Unprofessional real estate brokers will have no room on market

VietNamNet Bridge – Experts firmly believe that unprofessional real estate brokers will be eliminated from the market in the time to come due to the fierce competition on the market.

Real estate brokerage is believed to have a lot of opportunities for development and play a very big role in helping make the real estate market healthy. However, experts have pointed out that there exist a lot of problems with real estate brokerage.

A lot of real estate brokerage offices have been established recently. In order to set up brokerage offices, one should only have to hire a small business premises and advertise the office.

However, most of the offices, which were set up spontaneously, have been operating on a small-scale, and their employees are not professional. The offices do not have much information about land and houses that are offered for sale or purchase. In most cases, the brokers get information from personal relations rather than official channels. In other cases, they get the information from ad columns in newspapers, and then arrange trading deals with the information for commission.

Property sector looking positive for Vietnam's first international real estate

The real estate sector is showing signs of expanding in Vietnam as buyer interest increases and new projects begin construction.

The country's first international real estate brokerage conference in Ho Chi Minh City at the end of the month will hear that the future for the industry is looking brighter than in many other parts of the region.

The Ministry of National Resource and Environment, which is sponsoring the two day meeting which starts on March 27, says it is expected to attract domestic and international property investors and brokers.

Vietnam's property brokers will have the chance to discuss property brokerage with representatives from the Natural Resources and Environment, Construction and Finance Ministries as well the Taxation Office and the International Real Estate Federation.

Lai Chau Construction Private Enterprise

Construction on the building started last month and is expected to finish by the end of 2010. The investor says buyers will not be allowed to sell their houses for a certain period in order to prevent speculative transactions.

Son said his company plans to start building three 34-storied apartment buildings at Xa La next month and sell the flats two months later.

Nguyen Thang of the Housing and Urban Development Corporation said his firm is preparing to build an apartment building for medium and low income earners in Hanoi’s Me Linh District.

Hanoi Construction Corporation and Vietnam Construction and Import Export Corporation have also announced plans to build a series of low-income apartment buildings soon.

Frankfurt to Hanoi

It takes 12 hours to fly from Frankfurt to Hanoi, and Bernhard Franken is getting to know the route very well. Franken has a half-dozen projects in Vietnam. If his struggling Frankfurt practice has an angel looking out for it, she comes from the East. With startling speed, the German economy has turned sluggish and dyspeptic. Architects from Berlin to Bonn say small practices are shutting down or on life support. Larger ones are shedding staff, and Foster + Partners just closed its Berlin office.

“We can’t survive by working in Germany alone,” Franken says. “Practices have to be more specialized and globalized at the same time.” A chance meeting through a friend led Franken to a pitch his firm’s services to a Vietnamese real-estate concern working on a large, multiuse project called Tan Lab Green City in the coastal city of Nhâ Trân. Winning that project led to four others in Vietnam last year, and Franken soon opened a Hanoi office.

Vietnam property market shows signs of recovery

The real estate market is confident that prices will recover after a long cycle of decline in both HCM City and Hanoi. In the capital city, nearly 400 not-yet-built apartments in Keangnam Tower were sold not long after construction on the building started.

Lots in the Van Phu Urban Area and Xa La high-class apartment projects in Hanoi s newly-merged Ha Dong city have also been magnetic to investors, and prices have gone up nearly 20 per cent since Tet. Last year, investors paid little attention to these and other projects, as land prices were on a
heavy decline.

Moreover, property around these projects has also been selling like hot cakes.

One of Hanoi´s hottest realty projects is the Van Khe Urban Area, located next to the popular traditional silk craft village of Van Phuc, Ha Dong.