Real Estate

Real Estate Market Trends in Hanoi

Oct. 26 – Investor interest in Hanoi’s residential property has increased in recent years. With an average population growth rate of 5 percent a year coupled with a considerable area of vacant land, housing prices in Hanoi have been pushed up to levels that are higher than they should be. Selling prices of upmarket houses remain high while prices of average houses climbed 8.5 percent.

“The population in the next 15-20 years will grow constantly with middle-class people and medium-sized enterprises having the fastest growth rates,” according to Mr. Vu Xuan Thien, deputy director of the Housing and Real Estate Management Department. Continue reading →

Posted in Business, FDI and Foreign Trade, Hanoi, Real Estate | Tagged Hanoi, Hanoi Real Estate, Vietnam FDI, Vietnam Housing Market, Vietnam Real Estate | Leave a comment

Vietnam’s MOF to Update Finance and Real Estate Regulatory Frameworks

Feb. 28 – Vietnam’s finance and real estate regulatory frameworks are set to undergo changes in the coming months, according to the Ministry of Finance.

New amendments to securities regulations to come into effect in July will allow companies and investors to negotiate investments in terms of cash or assets, contingent upon the mutual approval of contracts and price agreements by both parties. Continue reading →

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New Issue of Vietnam Briefing: Establishing Representative Offices in Vietnam

Aug. 4 – In this issue of Vietnam Briefing, we look at the process of establishing representative offices in Vietnam. As the second best performing economy in the region this year, many foreign investors are now considering building a presence in Vietnam to take advantage of the robust growth. A representative office is the simplest way to do so initially as a company tests the viability of the Vietnamese market.

We also cover related topics that include comparing representative offices with branch and wholly foreign-owned enterprises to determine which type is the most suited for your company; obtaining a foreign work permit in Vietnam; and regulations on applying as a foreign contractor. Continue reading →

Posted in Business, FDI and Foreign Trade, Finance, Tax and Accounting, Hanoi, Ho Chi Minh City, Legal and Regulatory, Real Estate | Leave a comment

Danang City Lures US$2.8 Billion Worth of FDI

Jul. 26 – The major port city of Danang in central Vietnam has so far lured in US$2.8 billion worth of foreign direct investment.

A majority of the investments were poured into 29 realty projects comprising of up to 73 percent of the city’s total FDI. Danang’s largest foreign investor was the British Virgin Islands followed by South Korea, the United States, Hong Kong and Japan. Continue reading →

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Stricter Bidding Process Set for Japanese Funded Projects

Jul. 12 – A pilot regulation will open Japanese-funded projects to third parties for bidding in an effort to clamp down on corruption.

The Ministry of Planning and Investment said (MPI) said that under the trial regulation, a third party will be allowed to join tenders; study documents related to the bidding process and send reports to investors, the MPI and the Japan International Cooperation Agency on bidding irregularities. Continue reading →

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Singapore’s Capitaland to Double Investments in Vietnam

Jun. 8 – Singapore-based real estate giant Capitaland, the largest developer in Southeast Asia, is planning to double its investments in Vietnam over the next three to five years to US$2.5 billion.

New projects will include affordable housing and shopping malls across Vietnam’s key cities like Hanoi and Ho Chi Minh City, Capitaland CEO Liew Mun Leong told reporters at the sidelines of a meeting with government officials in Hanoi. Capitaland currently maintains roughly US$1.2 billion in real estate projects throughout the country. Continue reading →

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Vietnam-Cambodia Trade Up by 130 Percent

May 11 – Trade between Vietnam and Cambodia jumped 130 percent in the first four months of the year, reaching US$432 million.

The two nations set a goal to bring in US$2 billion worth of bilateral trade for 2010. Last year, trade amounted to US$1.33 billion, a decrease of 19 percent compared to the previous year due to the global financial crisis. Continue reading →

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Vietnam Considers Restrictions on Steel Imports

Apr. 21 – Vietnam may consider restricting steel imports to reduce reliance on China, Japan and Russia, says a recommendation from the Vietnam Steel Association.

The restrictions will benefit local steelmakers who are capable of meeting construction material needs for wire rods, pipes and metallic-coated steel. The move will also help the country cut its trade deficit and mitigate the effects of its fluctuating local currency. Continue reading →

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Latest Draft of Pilot Public Private Partnerships Regulations Released

HANOI, Apr. 16 – The Ministry of Planning and Investment has released the latest draft of regulations on pilot Public Private Partnerships (PPP) projects for infrastructure development.

PPP projects are critical for Vietnam to be able to develop its infrastructure as it implements further reforms to grow the economy. It is estimated that Vietnam will need to entice US$150 billion worth of investments in the infrastructure sector alone. Continue reading →

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Foreign Companies Dominate Real Estate Service Market

Apr. 14 – Foreign real estate service providers dominate the market in Vietnam with an estimated 90 percent of market share, reports Vietnam Net Bridge.

The top three companies in the industry are foreign players CBRE Vietnam, Savills Vietnam and Colliers, followed by local service providers like Megagroup, Eden, Him Lam and VietRees. Continue reading →