Want to be in the loop?
subscribe to
our notification
Business News
HCM CITY IN PROPERTY BOOM
The HCM City housing market will continue to grow this year, especially the VND1 billion (US$44,000) condo segment, the HCM City Real Estate Association (HoREA) has predicted. Le Hoang Chau, its chairman, said the VND1 billion segment would be the most liquid while the luxury segment will be restructured in line with actual demand.
Authorities would continue to cool down the land and condotel segments, it said.
In the second half of the year developers would continue to upgrade the city’s infrastructure, rebuilding old apartments, joining in resettlement programmes and developing smart urban areas, it said.
They would strengthen relations with foreign investors to raise more funds, it said.
In the first five months of this year the property market was slightly down compared to the same period last year, with only 29 projects launched, almost 10 per cent fewer.
Nearly 9,200 housing units were put in the market, 8,690 of them apartments and the rest houses, down by more than 44 per cent.
The slowdown had spread to the apartment market, with the luxury segment declining by 26 per cent, the mid-price segment by 32 per cent and the low-end segment by 70 per cent.
Land prices shot up, especially in District 9, though of late they have levelled off.
Fifteen M&A deals were done.
Property attracted the third highest amount of FDI.
According to HoREA, developers face challenges in getting loans since banks are tightening credit on instructions from the State Bank of Viet Nam.
The association wants the Government to control two main factors that affect the market: the imbalance between demand and supply in the luxury apartment and condotel segments and the disinformation spread by brokers to manipulate land prices.
Source: VIR
Related News
BUSINESS ENVIRONMENT REFORM NEEDS FURTHER PROMOTION: EXPERT
Ministries, sectors and localities need to drastically improve the business environment, including improving the efficiency in implementing reform. That was the message from Nguyễn Thị Minh Thảo, head of the Business Environment and Competitiveness Research Department at the Central Institute for Economic Management (CIEM).
MINISTRY ASKS CARRIERS TO DEVELOP FLEET OPERATION PLAN TO MEET SUMMER TRAVEL DEMAND
In a document sent to the Civil Aviation Authority of Việt Nam, the ministry said that the restructuring of some airlines’ fleet and flight networks, coupled with the recall of PW1100 engines by Pratt & Whitney for repair, have affected the load on both international and domestic flight routes, causing difficulties to passengers in terms of prices and schedules.
US AND VIETNAM BUILD MOMENTUM WITH UPGRADED TIES
In the six months since the historic upgrade of the US-Vietnam relationship to a Comprehensive Strategic Partnership, the United States and Vietnam have built on the momentum of our elevated relationship to advance bilateral cooperation across a range of areas.
LENDING SLOWDOWN THREATENS TO DELAY REAL ESTATE RECOVERY
Phan Duc Tu, chairman of BIDV’s Board of Directors, said, “Over the first 80 days of 2024, BIDV has disbursed loans totalling $18.95 billion to the economy. However, the figure is lower than its debt repayment of $19.55 billion. As of March 11, the bank’s outstanding balance contracted approximately 1 per cent compared with the end of 2023.”
PERFECT SPRINGTIME SIP AT LEGEND LOUNGE
Ho Chi Minh City, February 28, 2024 - The season of love dedicated to women has returned to the LOTTE HOTEL SAIGON, offering ladies impressive and sophisticated experiences. A highlight not to be missed at The Canvas seafood buffet restaurant is the masterpiece Lobster Ravioli. Visit Ottimo House to enjoy premium Italian cuisine prepared with Australian Wagyu beef. On Mondays and Tuesdays, Yoshino Japanese Cuisine Restaurant offers a 20% discount on sashimi. Discover the classy space and enjoy the new drinks available at Legend Lounge, including "Cherry Blossom Latte" and "Strawberry Afternoon Tea.". To end your self-love journey, Legend Healing Spa will be offering 20% off two special treatments.
VIETNAM RANKS IN TOP 5 FAVOURITE INVESTMENT DESTINATIONS AMONG ASIA’S EMERGING AND DEVELOPING COUNTRIES
The US' Milken Institute released the Global Opportunity Index (GOI) on March 5. The GOI remains a strong predictor of capital movements 10 years after its inception. The index alone explains 64.7 per cent of the variation in per capita foreign direct investment (FDI) inflows and 51.7 per cent of per capita portfolio inflows to countries across the world. The 2024 GOI report provides a global overview of countries' attractiveness and capital inflows.