Hanoi and Ho Chi Minh City have seen real estate sector transactions reach a total volume of more than $2 billion in the last two years. According to Adam Fitzpatrick, director of advisory and transactions and investment properties at CBRE Vietnam, residential projects are still sought after by many foreign investors. CapitaLand, Mitsubishi, and Keppel Land are just some of the big names involved in a range of large-scale projects of this kind in Vietnam. “We can read the growth rate of mergers and acquisitions (M&A) in Vietnam by looking at the initial public offering activities and the growth rate of private equities, which have been more active recently. We expect that this trend will continue throughout the next several years,” said Fitzpatrick. In the past two years, unlike a majority of transactions in Ho Chi Minh City, which were focused on the central business districts, those in Hanoi are mostly taking place in decentralised areas. Ho Chi Minh City made up three quarters of the aforementioned $2 billion. Investment transactions in Vietnam, said Fitzpatrick, are still low due to remaining challenges such as the poor-quality valuation as well as the lack of transparency, structuring, and track records. As for the rest of Vietnam, 75 per cent of transaction value stems from Hanoi and Ho Chi Minh City. While many different types of assets are put into transaction, development sites are experiencing rising interest. According to the recent survey ‘Emerging trends in real estate, Asia Pacific 2018’ by PwC, which… [Read full story]
by Le Hung Vong Following a troubled 2010, when the HCM City real estate market was in the doldrums, property investors expect 2011 to be equally bad, with funds being hard to raise due to the high interest rates and property lending policies tightened. "The real-estate market will be very gloomy in the first quarter of 2011," Doan Nguyen Duc, chairman of a large property company, Hoang Anh Gia Lai Group, has been quoted by online VnExpress as saying. High interest is a big obstacle for both property developers and buyers, he says. But he has his hopes pinned on…... [read more]
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There are optimistic signs of investors coming back to the real-estate market in HCM City after the State Bank of Vietnam (SBV) announced to lower interest rates. Optimism in HCM City real-estate market The general director of Dai Tin Real Estate Service – Trading Joint Stock Company, Phan Duc Tri, boasted that his company has made considerable achievements over the last week, when 16 out of 21 lots in a project in My Phuoc Commune, Binh Duong Province, which, in early April, that appeared to be unsalable, received orders. Tri attributes this to the recent SBV decision to lower deposit…... [read more]
The Ho Chi Minh City Real Estate Association (HoREA) has proposed to keeping an illegally built project on the banks of the Saigon River. Holm Residence or Thao Dien Sapphire project by Saigon River. In June, the authorities in HCM City issued a VND1bn (USD44,000) fine and ordered a halt to the construction of the Holm Residence or Thao Dien Sapphire project for various violations to no avail. The TDS Company increased the total area of their ground floor 1,127 square metres more than the registered and trespassed on the river protection corridor. They also built new construction that…... [read more]
Photo for illustrationAccording to Mr Minh, the amount would likely reach USD5.2 billion, up 6% over a year earlier. The economic situation in countries with remittances to Vietnam is quite positive. The US sent the most remittances to the country, accounting for more than 60%; followed by the EU (19%) and other continents (20%). In fact, the remittances still mainly flow into business activities (72%), real estate (22%) and the rest are for supporting relatives./. BTA... [read more]
