Land prices up after proposal to open more entrances to airport

That was announced by Long Thanh district People’s Committee deputy chairman Ngo The An at meeting hosted to review the province’s socioeconomic conditions in the first half 2017 in Bien Hoa city yesterday. Replying to Sai Gon Giai Phong reporter’s query about land price rocket in areas surrounding Long Thanh airport, Mr. An, authorized by deputy chairman of the provincial People Committee Nguyen Hoa Hiep, admitted that the land price increase is real. It has been caused by the airport and traffic infrastructure development in areas leading to the project such HCMC-Long Thanh-Giay Giay expressway, which has also affected land prices in the eastern part of the city such as Districts 2 and 9. The land price rocket is also been due to clearer than before land policies. Increasing land price is feared to expand the difference between market price and compensation prices and raise difficulties in state management and compensation later on. Therefore, the province has speeded up the project’s progress. On August 9, it organized a meeting with the steering board on compensation and site clearance to complete the feasibility report of the project. The report will be sent to the Ministry of Transport before August 20 and submitted to the Prime Minister afterwards.By staff writers – Translated by Hai Mien... [read more]

That was announced by Long Thanh district People’s Committee deputy chairman Ngo The An at meeting hosted to review the province’s socioeconomic conditions in the first half 2017 in Bien Hoa city yesterday. Replying to Sai Gon Giai Phong reporter’s query about land price rocket in areas surrounding Long Thanh airport, Mr. An, authorized by deputy chairman of the provincial People Committee Nguyen Hoa Hiep, admitted that the land price increase is real. It has been caused by the airport and traffic infrastructure development in areas leading to the project such HCMC-Long Thanh-Giay Giay expressway, which has also affected land prices in the eastern part of the city such as Districts 2 and 9. The land price rocket is also been due to clearer than before land policies. Increasing land price is feared to expand the difference between market price and compensation prices and raise difficulties in state management and compensation later on. Therefore, the province has speeded up the project’s progress. On August 9, it organized a meeting with the steering board on compensation and site clearance to complete the feasibility report of the project. The report will be sent to the Ministry of Transport before August 20 and submitted to the Prime Minister afterwards.By staff writers – Translated by Hai Mien... [read more]

Lately, all sectors are warming up again, with increasing transactions throughout the country. VinaCapital has recently launched the second phase of Dai Phuoc Lotus in the southern province of Dong Nai and Nine South Estates in Ho Chi Minh City. Meanwhile, Jen Capital, a Chiaphua Group subsidiary based in Hong Kong, also introduced its Caye Sereno villas to the market. Pham Vu Hai Anh, deputy director of Hong Hac Dai Lai, the developer of the Flamingo Dai Lai resort in the northern province of Vinh Phuc, said the TPP was considered one of the most effective motivators pushing foreigners to buy houses in Vietnam. “This is why the foreign demand for our villas will be increased,” Anh said. Meanwhile, a recent report by CBRE Vietnam clearly pointed out that industrial park developers and construction companies would benefit the most when a great number of foreign textile and fisheries companies migrate to Vietnam. The report said that the TPP would spur more investment capital to Vietnam, especially from countries that are big importers of Vietnamese products, like the US and Japan. “US investment projects in Vietnam remain modest compared to the Republic of Korea (RoK) and Japan. American companies will increase manufacturing activities in Vietnam and reimport made-in-Vietnam products, thanks to the country’s tax exemption on major products such as garments and textiles. They will likely target industrial land in the southern provinces of Vietnam, where a number of existing garment and textile factories are located,” the CBRE report said. “Similarly,…... [read more]

The TPP was expected to add US$46 billion to Vietnam's GDP of US$200 billion in 10 years, a report from CBRE (Vietnam) Co said. The sectors that would benefit the most are garment and textile, fisheries, and agriculture. The current tax of 17-20% slapped on Vietnam's garments and textiles in the US would go once the deal became effective. Japan was also committed to eliminating tariffs on 66% of fish and seafood import items and 32% of agricultural imports. Other tariffs would be reduced or eliminated gradually over the next 20 years. Australia, Malaysia and New Zealand would also scrap more than 90% of their agricultural tariffs immediately. "Although we believe the impact of TPP on the local real estate market is not as significant as the industries mentioned above, real estate-related sectors like industrial parks, warehouses, and logistics may observe a certain boost in demand resulting from increasing foreign investment. What it means for Vietnam real estate "Regardless of the long term impact of TPP, real estate stakeholders still had a very positive attitude towards the deal." Industrial land and warehouse: "The TPP will spur more investments into Vietnam, especially from countries that are big importers of Vietnam's products like the US and Japan. "US investment in Vietnam remains modest compared to the Republic of Korea and Japan. American companies will increase manufacturing activities in Vietnam and reimport made-in-Vietnam products thanks to the country's tax exemption on major products such as garment and textile. "They will likely target industrial…... [read more]

VietNamNet Bridge - A 3-star hotel with 50-70 rooms needs investment capital of VND100 billion. Meanwhile, annual revenue is not higher than VND20 billion. But more and more hotels arise every day. While the northern part of Phu Quoc Island is relatively quiet, the southern part is very noisy. On a road opened some years ago which connects Duong Dong town’s center and Ganh Dau Cape, there are dusty construction sites on which hotels and resorts are built. Not only on Phu Quoc, resort real estate projects have been developed continuously in the last two to three years in Da Nang, Nha Trang, Hai Phong and Thanh Hoa as well. These are cities and provinces believed to have great potential for tourism development. “A 3-star hotel with 50-70 rooms needs the investment capital of VND100 billion. Meanwhile, the revenue is no higher than 20 billion a year. But more and more hotels still arise everyday,” commented Trinh Bang Co, a businessman with 30 years’ experience. Not only privately run hotels, but condotels, priced at between several billion and tens of billions of dong have mushroomed. Buyers pay for condotels and lease condotels to developers with the promised interest rate of 10-12 percent. A 3-star hotel with 50-70 rooms needs investment capital of VND100 billion. Meanwhile, annual revenue is not higher than VND20 billion. But more and more hotels arise every day. The market has become busy with a series of huge projects such as Queen Pearl in Phan Thiet City,…... [read more]

Housing land offer price last year jumped up 20-40 percent over the previous year in many districts of HCMC especially Thu Duc, Binh Tan, District 9 and 12, said Commercial Real Estate Services Company on January 4. According to the company’s report, the price increase was because many infrastructure projects have been built and implemented and better connected these areas with downtown area. Last year, the city received 3,062 apartments from 13 projects, up 40 percent over 2015. Over 37,000 apartments were opened for sale from 28 projects including 18 new projects. With the up momentum, investors are planning to continue developing many new projects in potential districts such as Cu Chi and Binh Tan where traffic system has been upgrading and broadening.... [read more]

Protecting, maintaining and restoring ecosystems, especially water systems, is among the most urgent tasks for strengthening the country’s resilience to climate change, said Dr Tran Van Giai Phong, technical specialist at the Institute for Social and Environment Transition (ISET). He spoke at a recent workshop of a project to develop a city climate resilience index for Vietnam.The project, carried out by the Ministry of Construction’s Urban Development Department in co-operation with ISET and the Asia Foundation, aims at providing localities with an overview of their resilience against natural disasters and climate change, through which they can come up with appropriate solutions to tackle the problems.From surveys and research at five pilot cities in the first phase of the project, namely Lao Cai, Cam Pha, Hoi An, Gia Nghia and Ca Mau, experts find that critical ecosystems have been destroyed or degraded significantly in recent years.Particularly, lake and river systems and lowland areas of cities are highly prone to encroachment under the high pressure of urbanisation, which exacerbates flooding.“When land price increases, cities tend to fill in canals, rivers or lakes to build new urban areas. This considerably reduces the natural water drainage ability,” Phong said, adding that cities do not have effective mechanisms to protect and maintain the ecosystems providing environmental services to safeguard them.Another important factor that will make cities more climate change resilient is protecting the health and well-being of residents in urban communities, the project finds.Surveys show that poor communities in the five pilot cities, which are…... [read more]

Viet Nam News HÀ NỘI - Protecting, maintaining and restoring ecosystems, especially water systems, is among the most urgent tasks for strengthening the country's resilience to climate change, said Dr Trần Văn Giải Phóng, technical specialist at the Institute for Social and Environment Transition (ISET). He spoke at a workshop of a project to develop a city climate resilience index for Việt Nam. The project, carried out by the Ministry of Construction's Urban Development Department in co-operation with ISET and the Asia Foundation, aims at providing localities with an overview of their resilience against natural disasters and climate change, through which they can come up with appropriate solutions to tackle the problems. From surveys and research at five pilot cities in the first phase of the project, namely Lào Cai, Cẩm Phả, Hội An, Gia Nghĩa and Cà Mau, experts find that critical ecosystems have been destroyed or degraded significantly in recent years. Particularly, lake and river systems and lowland areas of cities are highly prone to encroachment under the high pressure of urbanisation, which exacerbates flooding. "When land price increases, cities tend to fill in canals, rivers or lakes to build new urban areas. This considerably reduces the natural water drainage ability," Phóng said, adding that cities do not have effective mechanisms to protect and maintain the ecosystems providing environmental services to safeguard them. Another important factor that will make cities more climate change resilient is protecting the health and well-being of residents in urban communities, the project finds.…... [read more]

By Ngoc Lan in Hanoi The Ministry of Finance has issued Circular 94/2011/TT-BTC modifying its previous circular that offers guidelines for implementation of Government Decree 142/2005/ND-CP of November 14, 2005 on land rent. However, it is expected to see whether the new circular will cope with unreasonable things over land rent and will lead enterprises to stop complaining and lamenting about the financial burden. Under the new circular, land rent, from August 15, will be as high as 1.5% against the land rent list issued yearly by city and provincial governments, according to Vietnam News Agency. For land to be used for developing urban towns, commercial services and residential projects which can generate better profits, annual land rent will depend on local governments’ land prices, but it is not allowed to double the basic land prices issued every year. The circular states that land rent for each project will be kept stable for five years. After that period, if the land prices set by local governments increase below 20% over the land prices used to calculate the current land rent, rent will be revised up to the new level for the next five years. Once land price increases over 20% as compared with the land price used for current land rent calculation, city and provincial finance departments will adjust land rent. Enterprises decry over land rent Around 200 companies in northern provinces early this month got together at a conference hosted by the Vietnam Chamber of Commerce and Industry (VCCI)…... [read more]

Property trading bustling in Dong Nai Within the first three days of last week, 300 lots of land priced at below VND200 million each have been sold at the Tin Nghia real estate trading center, or Tinnghia Land, in the southern province of Dong Nai, aside from 200 other lots for middle and low-income people were sold at the center a month ago. In an interview with the Daily, Tinnghia Land director Nguyen Thi Thanh Huong said that the segment for middle-income people is promising in Dong Nai though the country's property market is still in hibernation. - Nguyen Thi Thanh Huong: Customers have come to seek information at the center. I think they are still interested in low-priced land. I'm surprised that all lots near Bien Hoa City with prices below VND200 million were snapped up shortly after the project was introduced to the market. Unlike HCMC, Dong Nai's real estate market seems to be slightly affected by the economic slowdown. Besides, real estate in provinces are quite different from those in major cities. Last year, Dong Nai land prices increased by just 20%-40% amid the land fever in HCMC. Similarly, local land prices are down by 20%-40% while HCMC land has taken a nosedive. Land trading remains stable at projects worth less than VND1 billion. In addition, land prices in Dong Nai are still affordable for many investors and buyers with real housing demand. The highest land price in Bien Hoa City is VND20 million per square meter…... [read more]




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