With Vietnam's economy growing at more than 8 percent a year, real estate is booming in the underdeveloped Southeast Asian country. Industry experts forecast property growth of between 20 and 30 percent this year.
CapitaLand has developed The Vista, a high-end apartment complex in Ho Chi Minh City that sold out last summer before it was built, at prices ranging from $1,350 per sq metre to $2,700 per sq metre.
Thursday, February 28, 2008
Monday, February 25, 2008
Prudential Vietnam has initiated a program to disburse loans to locals
The program run by its finance affiliate, Prudential Vietnam Finance Company, lends up to 75 percent of vietnam property value and requires no mortgages from clients who qualify for loans ranging from VND160 million (US$10,000) to VND8 billion ($500,000) with a 20-year maturity.
Friday, February 22, 2008
Central bank policy and the overheating property market
Property prices in both Ho Chi Minh City and Hanoi surged in the fourth quarter last year.
The real estate market boil was then kicked up a notch when the central bank ordered local lenders to limit their loans against securities to fewer than 3 percent and doubled the reserve requirement rate.
The move cut the stock market down to size as the benchmark VN-Index soon fell from 1,170 points on March 12, 2007 to 927 by the year’s end.
The real estate market boil was then kicked up a notch when the central bank ordered local lenders to limit their loans against securities to fewer than 3 percent and doubled the reserve requirement rate.
The move cut the stock market down to size as the benchmark VN-Index soon fell from 1,170 points on March 12, 2007 to 927 by the year’s end.
Monday, February 18, 2008
Vietnam’s real estate market
Many asked Mr. Leech if he thought 2008 will be the year of banks and real estate, he says that 2008 will certainly be the year of banks, but not property.
2008, like 2007, will witness the groundbreakings of a series of major real estate projects, including Vincom City Tower 2, BIDV Tower, Crown Plaza, the Keangnam Hanoi Landmark Tower, The Landmark, CEO Tower, Indochina Plaza, and these are just those in Hanoi.
The projects will only be completed and become operational in two or three years, and the real estate market will see big changes by that time.
2008, like 2007, will witness the groundbreakings of a series of major real estate projects, including Vincom City Tower 2, BIDV Tower, Crown Plaza, the Keangnam Hanoi Landmark Tower, The Landmark, CEO Tower, Indochina Plaza, and these are just those in Hanoi.
The projects will only be completed and become operational in two or three years, and the real estate market will see big changes by that time.
Friday, February 15, 2008
Vietnam property rent prices to hit new records this year
The real estate researcher said offices, purpose-built retail, residential, industrial, hotels, resorts and golf courses would experience record rent rates in major centres like Ho Chi Minh City, Hanoi, Da Nang, Phan Thiet and Vung Tau.
Rent in A-grade office buildings will surge by US$65-70 per square meter a month from last year, excluding service charges and value-added tax.
According to CBRE, HCMC will see the greatest increases due to soaring demand from individuals and businesses.
Rent in A-grade office buildings will surge by US$65-70 per square meter a month from last year, excluding service charges and value-added tax.
According to CBRE, HCMC will see the greatest increases due to soaring demand from individuals and businesses.
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