Real estate

KTĐT -

Japanese real estate investors are diving into the Hanoi real estate market head first, particularly keen on the office, retail, and housing development segments.

Recipients of overseas remittance are buying land and houses instead of depositing money in banks or keeping the cash, as they believe that real estate prices will climb due to new government policies.

Leading economists say it is essential to have a separate financial system that is not run by State-owned banks to insure lending is based on merit, reduce the risk of a banking liquidity crisis and to better manage the country’s foreign exchange position.

On the afternoon of November 25, Congress passed the Housing Act (as amended). In that rule, individuals allowed to enter Vietnam is entitled to buy, lease, donate, inheritance commercial housing including apartments and individual houses in the project housing construction, except for the area to ensure defense and security.

Residential real estate sales are pushing Ho Chi Minh City into seller’s market territory with an increase in the number of properties changing hands in the last year ballooning by 85%, according to property company Savills Vietnam.

Representatives from over 50 Indian real estate agencies gathered at a seminar in Hanoi on September 12 to brush up their knowledge of the Vietnamese real estate market and learn about investment opportunities.

The demand for rented office space in Hanoi increased sharply in the second quarter of this year, pointing to a gradual recovery of the domestic economy, said property experts.

Vietnam`s property market is revising but depending too much on the financial market, which makes investment still risky, so developers should take prudential steps towards the market.

Many in HCM City have turned to buying homes to rent in the context of a sharp fall of deposit interest rates and the frozen real estate and stock market.

The property market has begun to show positive signs, with a recent increase in capital inflows.

Many in HCM City have turned to buying homes to rent in the context of a sharp fall of deposit interest rates and the frozen real estate and stock market.

Many villa projects in Hanoi are being sold at surprisingly low prices amid the slump in the market when their investors want to clear out the stocks.

Low-income buyers will be allowed to mortgage their new houses or apartments to access loans from the VND30 trillion (US$1.3 billion) housing stimulus package.

The Hanoi office market is thriving with new commercial infrastructure, leading to higher occupancy and decreasing rents, noted CB Richard Ellis Vietnam Co Ltd (CBRE)`s Hanoi branch.

A NA deputy has put up questions about the slow disbursal of the VND30 trillion (USD1.4 billion) real estate stimulus package which was launched in June last year.

Vietnam needs domestic and international assistance to carry out its housing plan for low-income earners to improve their living conditions, says Construction Minister Trinh Dinh Dung.

The local property market has shown signs this year that property development will continue, after a weak 2013, according to experts.

International Finance Corporation (IFC) is infusing US$7.5 million into Nam Long Investment Joint Stock Company to build 8,000 houses in HCM city for average income earners.

A number of real estate companies and experts were quoted by New York Times as saying that Viet Nam’s beleaguered property market is bottoming out just as macroeconomic indicators stabilize and the ruling Party makes new pledges to reform a struggling and corruption-riddled banking sector.