According to the Ministry of Construction’s Housing and Property Market Management Department, the capital city reported 1,650 transactions, an increase of 13.8% and the southern metropolis Ho Chi Minh City had 1,900, a rise of 8.6% over December’s figures. In Hanoi, many housing projects have been completed and offered with attractive trade promotion programmes. The offerings are in the high- and mid-end segments and are located in convenient places. There are many kinds of area and payment methods can be flexible, the department said. Some projects had many sales in January, including Season Avenue, Ha Dong; An Binh City-Bac Tu Liem; Sunshine Riverside Tay Ho and Romance Plaza, Ha Dong. Average offered price of an apartment in January rose 0.14% against the December price, of which, the price surged 0.17% for high-end apartments, 0.05% for mid-end apartments and 0.56% for affordable apartments. Price of house on land had an increase of 0.24% compared with December. Liquidity on the HCM City property market also increased in January. High- and mid-end apartment segments reported many sales. Customers paid attention to apartments having one or two bedrooms and price at about VND1 billion (US$44,000) per unit, but the supply was low. Projects reporting many transactions included New City Thu Thiem, District 2; Saigon Intela-Binh Chanh District; and Melosa Garden, District 9. Average selling price increased 0.24% for apartments and 0.81% for house and land. The price declined 0.05% for high-end apartments, but rose 0.33% for mid-end apartments and 0.5% for affordable apartments. The… [Read full story]
It has become easier for people who are foreigners, and not originally from Viet Nam, to buy houses in Viet Nam. Before, it was quite difficult for them to have the right to so do. However, the law changed. Lots of property sales are now expected to take place. HCM CITY (VNS)— Mark Cameron of the UK, who lives and works in Viet Nam, believes that he will be able to own residential property thanks to the revised Law on Housing, which has removed prior restrictions on foreigners from buying property in the country. It will take effect next month.…... [read more]
Thaco posts record car sales in September Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC - Truong Hai Auto Corporation (Thaco) sold 4,035 passenger cars in September, the highest monthly sales volume since the company joined the local auto market in 2007. The company ascribed the higher-than-expected sales to the record sales of Kia, Mazda and Peugeot brands distributed by Thaco last month, with respective figures of over 2,000, more than 1,900 and nearly 60 cars. Thaco delivered more than 27,500 passenger cars of all makes to customers last month, soaring over 60% year-on-year and higher than…... [read more]
Property sale plans diversified on poor demand Dinh Dung By Dinh Dung - The Saigon Times Daily HCMC – The local property market this year has seen sale plans diversified to attract homebuyers who don’t need to rush in times of steep price falls. The high-end condo project Hoang Anh Riverview developed by Hoang Anh Gia Lai Group in HCMC’s District 2 is known for its double discounts. In 2009, the project owner announced a 40% price cut, bringing down the condo price from VND49 million to VND28 million per square meter. This year, secondary investor An Binh Land has…... [read more]
HCM CITY (VNS)— While Government policies are yet to make a significant impact on the country's frozen real estate market, experts argue that discounts may provide property firms with a much needed boost to sales. The suggestion follows recent moves by two HCM City-based property firms which slashed prices for high-end villas and apartments in District 7 by half, to revive the sluggish market. Novaland Group on Sunday announced that prices for North Tower apartments, the third phase of the Sunrise City project, would be around VND27 million (US$1,280) per square metre, instead of initial price of VND50 million ($2,380).…... [read more]
Fears over plans to leave out notary services in property sales By Dinh Dung - The Saigon Times Daily HCMC - The Ministry of Construction has put forward ideas to leave out the notary legal service procedure that is seen as a must in housing transactions; however, many property experts are concerned the move will produce more potential risks to buyers and sellers. The construction ministry said simplifying administrative procedures and saving money is why they are proposing the Ministry of Justice amend the current Housing Law, allowing contracts of selling, giving, mortgaging, exchanging and leasing properties within six months…... [read more]
