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A new push for the upcoming Dong Nai Real Estate Market with an 18,600 Billion VietnamDong Investment in an integrated urban area https://t.co/canpFR5Hfp
A new push for the upcoming Dong Nai Real Estate Market with an 18,600 Billion VietnamDong Investment in an integrated urban area https://t.co/canpFR5Hfp
— Property Hub Vietnam (@propertyhubvn) Sep 14, 2021
from Twitter https://twitter.com/propertyhubvn
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A new push for the upcoming Dong Nai Real Estate Market with an 18,600 Billion VietnamDong Investment in an integrated urban area
Nam Long Group has just signed a strategic cooperation agreement with Hankyu Hanshin Properties Corporation to develop the 170-hectare integrated urban area Izumi City in Dong Nai, with a total investment of VND 18,600 billion.
Izumi City is an integrated urban area east of Saigon developed by Nam Long and Japanese partner Hankyu Hanshin Properties Corporation.
On August 28, Nam Long Group announced that they had just signed a strategic cooperation agreement with Hankyu Hanshin Properties Corporation – a real estate corporation from Japan to develop the 170-hectare integrated urban area Izumi City in Dong Nai, Vietnam. With an estimated total investment capital of 18,600 billion VND. This is a project to ensure the long-term development of Nam Long for many years to come.
Sharing about this cooperation, Mr. Toda Masahiko, Senior General Director of Hankyu Hanshin Properties Corp said: Dong Nai is adjacent to Ho Chi Minh City. Ho Chi Minh City has been developing many important transport infrastructure systems.
This is also a leading province in industrial development and has great potential for housing development.
We highly appreciate the development of Dong Nai as well as believe in the project development strategy of our long-time companion Nam Long with 5 projects implemented in the past 5 years, so we decided to invest with them. into Izumi City.
For his part, Mr. Tran Xuan Ngoc, General Director of Nam Long Group said: Nam Long is very proud to continue to cooperate with prestigious long-term strategic partners of international stature.
Hankyu Hanshin is one of the leading names in Japan with 100 years of experience.
Cooperating with Hankyu Hanshin, Nam Long Group not only strengthens its internal financial resources but also learns from experience in developing and operating large-scale projects.
“In the future, we hope that this cooperation will not stop at land bank and housing development but will expand to other core business segments of Nam Long such as commercial real estate – services. service, retail, hotel… to both benefit partners and contribute more to Vietnam’s real estate market,” said Mr. Tran Xuan Ngoc.
It is known that the integrated urban area of Izumi City has about 3,000 low-rise housing products located in the real estate ecosystem including service utilities, health care, schools, etc., expected to launch the first products. at the end of the third quarter of 2021.
Previously, at the end of 2020, Nam Long signed a principle agreement with Portsville Pte.Ltd – a subsidiary of Keppel Corporation Limited – Singapore to buy back all shares of a potential 170 ha project in Dong Nai .
Accordingly, Nam Long’s ownership rate in Dong Nai Waterfront City Co., Ltd is increased to 65.1%, strategic partner Hankyu Hanshin Properties Corp is 34.9%.
This is one of the key urban area projects of Nam Long in the period of 2021 – 2025 next to Akari City of 8.5 hectares; Mizuki Park 26 hectares, Waterpoint 355 hectares, Nam Long Central Lake 43 hectares, Nam Long Dai Phuoc 45 hectares and Nam Long Hai Phong 21 hectares…, contributing to Nam Long achieving its ambition to become a developer of integrated urban areas. Vietnam in the next 3-5 years./.
The post A new push for the upcoming Dong Nai Real Estate Market with an 18,600 Billion VietnamDong Investment in an integrated urban area appeared first on Property Hub Vietnam.
source https://propertyhub.vn/a-new-push-for-the-upcoming-dong-nai-real-estate-market-with-the-eyes-of-the-integrated-urban-area-invested-more-than-18600-billion-vnd/?utm_source=rss&utm_medium=rss&utm_campaign=a-new-push-for-the-upcoming-dong-nai-real-estate-market-with-the-eyes-of-the-integrated-urban-area-invested-more-than-18600-billion-vnd
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CASH FLOW FOR REAL ESTATE LOANS IN VIETNAM IS SLOWING DOWN https://t.co/95UijpGEFR
CASH FLOW FOR REAL ESTATE LOANS IN VIETNAM IS SLOWING DOWN https://t.co/95UijpGEFR
— Property Hub Vietnam (@propertyhubvn) Jun 23, 2021
from Twitter https://twitter.com/propertyhubvn
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CASH FLOW FOR REAL ESTATE LOANS IN VIETNAM IS SLOWING DOWN
According to data from the Department of Credit for Economic Sectors, credit growth in the real estate loans in Vietnam is slowing down, estimated at the end of June, the growth rate is only about 5.5%.
At the State Bank of Vietnam (SBV) press conference on the morning of June 21, Mr. Nguyen Tuan Anh, Director of the Credit Department for Economic Sectors, had specific information about the lending cash flow of banks in the following months. Potentially risky sectors such as real estate, securities, corporate bonds, etc.
Specifically, with the real estate sector, Mr. Tuan Anh said that this is always an area where the monetary authority strictly controls risks. In the past 3 years, credit growth in this field has tended to slow down markedly.
In which, credit to the real estate sector in 2018 increased by about 26.76%, this number has decreased gradually in the following years to 21% in 2019 and 11.89% in 2020.
CONTROL CASHFLOW FOR REAL ESTATE LOANS IN VIETNAM
“The main reason why credit to real estate grew slowly last year was due to the impact of the Covid-19 epidemic, so investment activities dropped sharply, even the above increase was lower than the average credit growth rate. the same year,” said the director of the Credit Department for Economic Sectors.
Mr. Tuan Anh added that by the end of April, the credit growth of the real estate sector was 4.83% and is expected to reach 5.5% by the end of June, still lower than the general growth rate of the whole industry.
Explaining the phenomenon of real estate prices increasing on a large scale over the past time, the Credit Department for Economic Sectors leader said that this market recorded a sudden increase in March-April and a hot increase in some areas. areas, especially land prices.
However, after the Government’s drastic direction and the State Bank’s analysis and warning of potential risks in real estate investment, the price of land plots in some localities has decreased considerably.
“The fact that some localities have well-controlled and followed the Government’s direction in publicizing the planning of projects also contributes to the basic handling of the phenomenon of increasing heat and contributes to reducing land fever,” said Mr. Tuan Anh. share.
However, the leader of the Credit Department for Economic Sectors said that the real estate market still has potential risks and must not be ignored.
With the current increase, the regulator still has good control, but the SBV has asked credit institutions to re-evaluate and strictly control growth in each field.
NEARLY 47,000 BILLION VNĐ FOR SECURITIES INVESTMENT LOANS
For the securities sector, it is expected that by the end of June, outstanding loans in this field will only account for about 0.48% of the economy’s total outstanding loans, unchanged from April-May.
According to Mr. Nguyen Tuan Anh, the reason is that the growth of securities credit by the end of June is expected to reach VND 46,700 billion, an increase of only VND 400-500 billion compared to April-May, while the general market also increased, leading to The proportion of loans in this sector is still low compared to the total outstanding loans.
The director also said that securities are an area that many management agencies and people are interested in, and over the past time, this market has also fluctuated continuously, so it is necessary to focus on inspecting and controlling investment activities.
It is expected that in the coming time, the State Bank will have solutions to closely monitor lending activities, especially restricting the law evasion to lend in this field, using capital for wrong purposes, strengthening supervision of credit institutions, etc. Borrower, the purpose of borrowing…
Information about the corporate bond market, data from the Credit Department for Economic Sectors shows that the outstanding balance of corporate bonds held by credit institutions is about VND 257,700 billion, equivalent to 2.6% of the total outstanding balance. debt in the economy.
According to the department’s leader, this loan balance is not too large, but investment in corporate bonds is a sensitive area, so it will be focused on supervision and management. It is expected that by the end of June, the fluctuation of outstanding loans in this field will only increase by about 2,000 billion VND.
“Currently, the management agency still basically controls the corporate bond investment activities of credit institutions, but the Credit Department insists that it is not subjective in management and will take more measures to strengthen the inspection. supervise this activity,” emphasized Mr. Tuan Anh.
Also at the meeting, Standing Deputy Governor Dao Minh Tu said that in the economy, the three markets of money, real estate, and securities are always connected and it is normal for money to move in these three markets.
The goal of the regulator is to create conditions for all 3 markets to develop, but to direct the cash flow to ensure the safety of the market, not to create bubbles.
“The Ministry of Finance manages the stock and bond markets, the State Bank manages the money and credit markets, the problem is how to make the markets interconnected, but still ensure the real estate and securities markets. securities do not create bubbles”, emphasized the deputy governor.
On the side of the State Bank, Mr. Dao Minh Tu said that the money management agency has directed banks with large outstanding loans for real estate, the rate has increased rapidly recently.
In general, the system’s real estate loans in Vietnam growth has not been high, even decreased compared to previous years, especially in the real estate business segments, high-end projects, and speculative projects. With the real estate market serving people’s housing needs, social housing, low-income housing, the State Bank still encourages lending.
The post CASH FLOW FOR REAL ESTATE LOANS IN VIETNAM IS SLOWING DOWN appeared first on Property Hub Vietnam.
source https://propertyhub.vn/cash-flow-for-real-estate-loans-in-vietnam-is-slowing-down/?utm_source=rss&utm_medium=rss&utm_campaign=cash-flow-for-real-estate-loans-in-vietnam-is-slowing-down
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“STUNNED” WITH APARTMENT PRICES IN HO CHI MINH CITY https://t.co/E6gkBuLiqi
“STUNNED” WITH APARTMENT PRICES IN HO CHI MINH CITY https://t.co/E6gkBuLiqi
— Property Hub Vietnam (@propertyhubvn) Jun 15, 2021
from Twitter https://twitter.com/propertyhubvn
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“STUNNED” WITH APARTMENT PRICES IN HO CHI MINH CITY
Luxury apartment prices in Ho Chi Minh City continuously set new peaks, pushing real estate prices in general and apartment prices in particular to towering, increasingly out of reach of the majority of people.
APARTMENT IN HO CHI MINH CITY RACE TO BREAK THE PRICE RECORD
For nearly a month, super-luxury real estate dealers in Ho Chi Minh City were excited about the appearance of the Grand Marina apartment project located on Ton Duc Thang street, announced a successful transaction price of 18,000 USD/m2 (equivalent to 423 million VND/m2). With this price, the apartments fluctuate from 18 to 24 billion VND / unit depending on the area from 40 – 110 m2. The rumor selling price (exploratory price and popular announcement) of the apartments in this apartment building has a starting price of 16,000 USD/m2 (equivalent to 376 million VND/m2), aimed at upper-class customers.
Although this is not the highest house price in the real estate market in Ho Chi Minh City at present, it also makes both people and real estate investors surprised because the new price level has increased rapidly in Ba Son area (District 1). ). Five years ago, when Vinhomes Golden River Ba Son was launched, the opening price was only about 3,500 USD/m2 (more than 82 million VND/m2) and was classified as super luxury.
House prices in Vietnam have increased far beyond the income of many people
By 2019, also in this area, Alpha King introduced to the market 2 adjacent projects with selling prices from 10,000 – 12,000 USD/m2 (235 – 282 million VND/m2), which “shocked”, becoming a project. The most expensive apartment project in history. However, less than 2 years later, the new peak price increased by nearly 100%, reaching 423 million VND, setting a new record for house prices in Ba Son area.
In fact, from the end of 2020, the high-end residential segment has been forecasted by consulting firms to witness new prices from the towering “pinning” The Spirit of Saigon project. Located right in the golden position is in the Ben Thanh quadrangle, with 4 fronts: Pham Ngu Lao, Pho Duc Chinh, Le Thi Hong Gam, Calmette and opposite Ben Thanh market, this apartment complex offers prices from 20,000 – 30,000 VND. 25,000 USD/m2 (equivalent to about 460 – 570 million VND/m2), breaking the price record of previously established projects, becoming the project with the highest selling price in the history of the apartment real estate market in Ho Chi Minh City. HCMC. Not to mention, the apartment area at The Spirit of Saigon is very large, from 90 – 275 m2. Calculated, the “giants” will have to spend from about 41.5 – nearly 157 billion to own an apartment in The Spirit of Saigon.
According to the latest report of CBRE in the first 3 months of 2021, the average selling price of luxury apartments in the whole Ho Chi Minh City market reached $6,898/m2, up 4.7% over the same period last year. Savills Vietnam also noted that despite the impact of the pandemic on the real estate industry in 2020, the luxury real estate model still recorded growth compared to other sectors globally. After a decade of growth at 170%, in 2020, the branded residence segment continues to grow strongly. Vietnam is in the group of 10 markets with fast growth in the field of “brand name” real estate in the world.
IT’S HARD TO HAVE AN APARTMENT WITH BILLIONS OF MONEY
Luxury apartments are located in the “diamond land”, luxury services and first-class utilities, so the price is pushed up. However, the increasing price of the high-end segment also pulls the price of real estate in general and apartments in particular in Ho Chi Minh City to a new level.
“There are housing projects that were previously in the affordable segment, but now have increased, in the middle class, exceeding the affordability of low-income people in big cities.” Ministry of Construction
Looking to buy a house for the past 2 years, Quynh Thi (living in District 4, Ho Chi Minh City) has not been able to choose a suitable apartment. Working in District 3, she needs to find an apartment of about 60 – 70 m2, the radius around the central area is no more than 7 km with an estimated amount of about 2.4 billion VND back. After a period of market survey, Ms. Thi targeted the high-class apartment complex Sunrise Riverside (District 7, Ho Chi Minh City) invested by Novaland Company. The company’s sales staff said that the open-sale blocks were sold out, customers sent some apartments also sold at the original price, but the money had to be paid “in one piece” or inherited the loan history from the customer.
The apartments introduced are mainly about 65 – 70 m2 (heart of the wall), so the actual usable area is only about 62 – 66 m2, the price ranges from 2.6 – 2.8 billion VND, equivalent to more than 41 million VND. VND/m2 raw house, only the frame, doors, electricity, and water lines; the walls are only plastered, not painted, not tiled, not divided into rooms, not have any other utilities inside. If it is just a little complete, you will have to spend billions of dollars to live there.
Compared to the average income of people, housing prices in Ho Chi Minh City are considered quite expensive
“That was the story of last August. Last month, I just consulted, the house price in this area has increased to more than 46 million VND/m2. During the past year of the epidemic, I thought house prices had decreased, but unexpectedly increased. Buying a house is more and more difficult, now holding billions of dollars in hand but looking with red eyes, still can’t find an apartment,” Ms. Thi sighed.
The Ministry of Construction’s report on the real estate market for the whole year 2020 of the Ministry of Construction noted that apartment prices in big cities such as Hanoi and Ho Chi Minh City still tend to increase in all 3 segments of affordable, mid-range, and high-end. despite the complicated developments of the Covid-19 epidemic. On average, apartment prices in Ho Chi Minh City increased by about 3-4% compared to the fourth quarter of 2019.
In which, the segment of affordable apartments priced at under VND 25 million/m2 has very few projects, only in areas far from the center, suburban areas, and underdeveloped infrastructure. In 2020, in Ho Chi Minh City, there is no project selling less than 25 million VND/m2; the mid-end apartment segment in Ho Chi Minh City has established a new price level, ranging from 35 to 45 million VND/m2. For high-class apartment products, priced at over VND 50 million/m2, in Ho Chi Minh City, there are many high-quality construction investment projects but the consumption is not much.
THREATEN THE GROWTH MOMENTUM OF THE NEXT YEARS
Mr. Tran Khanh Quang, General Director of Viet An Hoa Company, assessed: Although the demand for high-end real estate is real, recently, especially from the end of 2020, due to limited supply, investors have started “escalating” in price. Instead of before the profit on revenue was about 15%, now many investors push the profit margin up to 30-40%. If the real estate market increases according to demand, an annual increase of about 10-15% is reasonable. The sudden increase of 30-40% in one year threatens the growth momentum of the following years.
The demand for housing in Ho Chi Minh City is still great when the population increases by 1 million people every 5 years
Block speculation to reduce the price
Prof. Dr. Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, said that housing prices in Vietnam are increasing and are “virtual prices”. The main reason is too much speculation. Housing funds are put on the market not directly to people in need, but mainly through speculative gathering forces. Although not to the extent of forming a dangerous “bubble” for the economy, real estate prices are input for many other manufacturing industries, so when this price is too high, it will increase production costs, causing the cost of goods to increase. That makes the competitiveness of the economy low.
“In the past, Vietnam has calculated the average house price/average income ratio of about 25 people and had downtime at 15, but now it is estimated to be over 30. This shows that solving the need Housing demand for people is not stable, difficulties for people to settle down and work will make society unsustainable. The only way is to impose a property tax to prevent speculation from being too high. People will be completely free of charge for residential land according to regulations announced by the local government. For example, if there is a limit of 200 m2/household, if there is an area above this limit, the tax will be calculated and the tax will also be calculated in a progressive manner,” Prof. Dr. Dang Hung Vo said.
According to Mr. Quang, currently, the supply of real estate is developing in the direction of investment, giving investors more to meet housing needs. The price push for investment should not last 2-3 years because it will cause many negative consequences for the market. It is increasingly difficult for people in the city to live and buy a house when apartments of VND 40 million/m2 gradually become low.
“On the investor side, it is advisable to review the sustainable development orientation, if it is only developed in a hurry in the direction of investment, it is easy to cause a large product backlog while people’s needs are not resolved. On the government side, when the supply is limited, businesses will choose the segment with a high profit margin. Therefore, in addition to removing legal procedures to increase supply, there should be a general policy to develop low-cost and low-cost apartments to meet the housing needs of the people of the city, “said Quang.
The post “STUNNED” WITH APARTMENT PRICES IN HO CHI MINH CITY appeared first on Property Hub Vietnam.
source https://propertyhub.vn/partment-prices-in-ho-chi-minh-city/?utm_source=rss&utm_medium=rss&utm_campaign=partment-prices-in-ho-chi-minh-city
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WHY DO REAL ESTATE PRICES IN THE WEST OF SAIGON INCREASE? https://t.co/RgdeM3heWf
WHY DO REAL ESTATE PRICES IN THE WEST OF SAIGON INCREASE? https://t.co/RgdeM3heWf
— Property Hub Vietnam (@propertyhubvn) Jun 7, 2021
from Twitter https://twitter.com/propertyhubvn
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WHY DO REAL ESTATE PRICES IN THE WEST OF SAIGON INCREASE?
Currently, the population pressure of the central area of Ho Chi Minh City is increasing, causing the city to tend to expand its population to satellite urban areas. With the advantage of being the gateway connecting Ho Chi Minh City and the western provinces, the West of Saigon plays an important role in this process.
The population of the West of Saigon is the largest, the real demand is high
The population is large, while the products on the market are few, the demand for buying houses to stay is high, leading to the real estate prices in the West of Saigon (District 6, District 8, District Binh Tan, Tan Phuc District, part of Binh Chanh district…) has price fluctuations across most segments. However, compared with the East and the South of Ho Chi Minh City, the increase in real estate prices in this area is stable and sustainable over time, there is no erratic rise or fall. That is also the reason, many real buyers in this area have very good access to real housing needs. While for investors, the investment cash flow is also sustainable over time.
According to a representative of Colliers Vietnam, if the real estate market in the East has had many exciting developments in the past few years, the West has been quite quiet. This situation is reflected in the fact that there are not many projects launched on the market, the prices are also relatively stable, there are no unpredictable fluctuations. The report of the first quarter of 2021 of this unit indicates that it is forecast that about 40,000 apartments will be launched in the Ho Chi Minh City market this year, but most of them are concentrated in Thu Duc city, the West area is almost empty. new project ball. It is worth mentioning that the West area has the largest population in Ho Chi Minh City, the real demand is very large.
The West area has the largest number of residents in Ho Chi Minh City, according to 2019 census data. Binh Tan leads with more than 784,000 people, followed by Binh Chanh with more than 705,000 people, District 8 with 424,000 people, and District 8 with 424,000 people. 6 more than 233,000 people. The population is large and continuously increasing year by year, making the demand for real housing and business premises very high.
“Currently, the population pressure of the central area of Ho Chi Minh City is increasing, causing the city to tend to expand its population to satellite urban areas. Ho Chi Minh City and the western provinces, have an important role in this process,” emphasized Vietnam Colliers expert.
The price of the apartment is still affordable
Perhaps this is the area with the softest real estate compared to other areas of Ho Chi Minh City. Stemming from this reason, over the years, the cash flow of real home buyers and investors has concentrated in this area. The price sustainability makes the liquidity of projects in the West area quite good.
The survey shows that, currently, the average price of secondary apartments in Binh Tan district is about 30 million VND/m2. With projects that are about to be handed over, a good level of interest from the market has been recorded. For example, the Akari City project of Nam Long Investor (Vo Van Kiet Street, Binh Tan District) is currently trading apartments on the secondary market with prices ranging from 35-38 million VND/m2, apartments with an area over 100m2, the secondary price is about 30 million VND/m2. This is considered a “rare” soft price on the busy Vo Van Kiet street. Besides the affordable price, because the project is about to be handed over, it has received great attention from real housing demand.
While in the inner streets such as Kinh Duong Vuong, Huong Lo 2, Nguyen Cuu Phu … the price of secondary apartments also ranges from about 27-41 million VND/m2. For example, the Moonlight Boulevard project is selling at a secondary price of about 36-41 million VND/m2; Imperial Place costs about 30-35 million VND/m2; Tecco Town (Nguyen Cuu Phu Street, Tan Tao A Ward) costs about 30 million VND/m2….
In the area of District 6, the secondary price level is slightly higher. The projects here are offering prices ranging from about 31-60 million VND/m2. For example, the D-Homme project (Hong Bang street) costs from 60-68 million VND/m2; Saigon Asiana (Nguyen Van Luong street) price from 46-56 million VND/m2; Asiana Capella (Tran Van Kieu street) price from 38-43 million VND/m2….
So to see, if compared to the East area of Ho Chi Minh City, the price of apartments in the West of Saigon is much more comfortable. With a price of 30-40 million VND/m2, it is almost “extinct” in the South and East areas at present. While on the secondary market in some streets of the West, this price is still available, proving that the real demand problem has been solved very well in this area. When the real demand for housing increases, it means that the investment demand will be stable and sustainable over time. It is always easier to buy, resell or rent in a crowded market with great real demand.
It can be said that in the East area of Ho Chi Minh City since receiving positive information about city planning and infrastructure, real estate prices here have increased rapidly. In the blink of an eye, many people lose the opportunity to own a home because the price of real estate is much higher than their income. On the contrary, real estate prices in the West increased steadily, although not growing too “hot”, but the profit margin that investors receive about 15-25%/year is also considered a level worth investing in.
According to an industry expert, the price of 30-40 million VND/m2 for an apartment in the West area is the price that real buyers feel “comfortable”. In the context that apartment prices in many other areas are said to be “stunner” for many people, this price threshold is considered quite “soft” for many investors when they look at the long-term development potential of the area. West of Ho Chi Minh City.
Currently, real estate prices in Thu Duc city are increasing rapidly. The asking price of apartments here has increased by 45% on average compared to 2018. This increase is expected to continue. Therefore, many investors, as well as home buyers, are looking to move to less expensive areas.
Slow infrastructure, but well-invested arterial routes
If compared objectively, the infrastructure in the West is still relatively slow compared to the rest of the areas. Only the part adjacent to the South area where Phu My Hung urban area is present can receive some additional infrastructure advantages. Therefore, the West of Saigon does not have too much “leverage” to make the real estate market more exciting.
However, this place is being focused on investing trillions of dong to change the urban face. Therefore, it can be seen that the infrastructure of the West is at an emerging stage. That is also the reason why real estate prices increase stably and sustainably instead of being “hot” like other areas. The survey showed that the West area of Ho Chi Minh City began to attract investors with many large projects being developed.
Besides the roads that are playing the key role of “carrying” the regional connection such as National Highway 1A; Highway 22; HCMC – Trung Luong expressway; National Highway 50; Vo Van Kiet Street; Nguyen Van Linh and other inter-provincial roads, the West area of Ho Chi Minh City will open. At the same time, renew many strategic routes of the region such as upgrading 7 routes connecting Long An – Ho Chi Minh City with a total estimated cost of 24,400 billion VND; an additional VND 4,300 billion for the construction of a dynamic axis parallel to National Highway 50. Extending Vo Van Kiet Boulevard to connect directly with Long An for inter-regional traffic in the West and Southeast.
According to a representative of Colliers Vietnam, currently, the transport infrastructure of the West area includes several key projects, playing an important role in linking with the city center and inter-region such as Vo Van Kiet Boulevard, National Highway 1A. , Ben Luc – Long Thanh highway… Real estate prices in many areas in the West have not yet “followed” the metro lines, continuing to remain stable while still being able to find apartments for about 40 million VND/m2, even lower. That is considered the advantage of this market.
According to this unit, although there has not been a worthy investment in infrastructure, several trade arteries such as Vo Van Kiet Street have been and are making an important contribution to traffic activities as well as contributing to the transformation. actively improve the lives of people in many districts. Therefore, apartment projects along this route will inherit all of the above benefits, create great attraction for people with real housing needs and investors, and continue to increase in value.
“In a market that has not yet been formed clearly like the West, investors will earn more profits, the profit growth rate will definitely be higher than in previously developed markets. It can even be doubled. -5 times when the project is formed, but in the area where there are too many investors, the profit will certainly not be equal to the potential markets in the future”, Ms. Trang Bui Senior Director of JLL Markets Vietnam emphasized.
According to this expert, many individual investors are now starting to pay attention to the market in the West of Saigon. The reason is, the cost of investment is lower than in the East. For investors with financial capacity, it is very feasible to hold assets to wait for development opportunities in this market.
The post WHY DO REAL ESTATE PRICES IN THE WEST OF SAIGON INCREASE? appeared first on Property Hub Vietnam.
source https://propertyhub.vn/why-do-real-estate-prices-in-the-west-of-saigon-increase/?utm_source=rss&utm_medium=rss&utm_campaign=why-do-real-estate-prices-in-the-west-of-saigon-increase
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TOWNHOUSE FOR RENT IN HO CHI MINH CITY LOST GROUND AFTER 4 WAVE OF COVID 19 EPIDEMIC https://t.co/lU9YUngAlQ
TOWNHOUSE FOR RENT IN HO CHI MINH CITY LOST GROUND AFTER 4 WAVE OF COVID 19 EPIDEMIC https://t.co/lU9YUngAlQ
— Property Hub Vietnam (@propertyhubvn) June 4, 2021
from Twitter https://twitter.com/propertyhubvn
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TOWNHOUSE FOR RENT IN HO CHI MINH CITY LOST GROUND AFTER 4 WAVE OF COVID 19 EPIDEMIC
After consecutive Covid-19 outbreaks, the number of tenants paying for townhouses is increasing, especially in the central area of Ho Chi Minh City. Nguyen Thi Nghia Street – located close to the roundabout of Phu Dong 6 intersection – is one of the streets with the leading rental prices for townhouse in Ho Chi Minh in the center of District 1. However, a 3-story house at 24 Nguyen Thi Nghia with a rental price of more than 220 million VND/month has been vacant for nearly a year now.
Previously, a youth beverage brand used to rent this place as a downtown store and was forced to close during the Covid-19 outbreak in April last year. Through four Covid-19 outbreaks, townhouses for business are the most affected market. Before the request to close restaurants, cafes, barber and beauty salons and ask people to limit going out of their homes when not necessary… to ensure public health safety, many business establishments did not stand and were forced to return to the ground.
The wave of townhouses in the center of Ho Chi Minh City with signs for rent has become increasingly serious after 4 outbreaks of disease.
RENT PRICE DROPPED SHARPLY
In the central area of Ho Chi Minh City, on some roads in District 1 such as Ngo Duc Ke, Nguyen Trai, Pham Hong Thai, Ly Tu Trong, Ho Tung Mau, Huynh Thuc Khang, Le Thanh Ton, etc., there are many faces. The license has been posted and has a rental sign for many months.
As noted by Zing, although some new tenants quickly rented new premises with low prices and more “breathable” rental conditions, the impact of the epidemic on business operations still forced them to cancel their contracts first. due to insufficient operating costs.
The April real estate market report of Batdongsan.com.vn shows that the demand for renting private houses and townhouses in the first quarter of the second quarter decreased by 11-18% demand for renting shops and kiosks also decreased. down about 25% compared to March.
For businesses with financial potential, this is the time to re-evaluate the business results of the stores and possibly exchange for better premises or have good lease terms.
According to a survey by Savills Vietnam, landlords must reduce rents to retain current tenants. With properties on offer, landlords face requests for a 20-40% reduction in the current asking price. The contract term remains at 3 to 5 years. However, the tenant proposes not to increase the rent during the lease term.
Travel services, F&B, and fashion, especially chains, are industries facing many difficulties during the pandemic. To reduce long-term losses, many F&B and fashion businesses have converted their business to online form when e-commerce has spiked in the past and paid many non-business premises effectively to reduce costs. rental and labor costs.
Meanwhile, tourism service businesses, especially small and medium enterprises, closed their doors in series under the impact of domestic and foreign travel restrictions.
Industries such as healthcare, banking, and convenience store chains still maintain stable business operations during the epidemic season and tend to expand chains/branches, however, the speed of expansion tends to slow down. . They are also quick to get good locations and match good rental terms.
A STRONG BLOW TO A TOWNHOUSE IN HO CHI MINH FOR RENT
Talking to Zing, Ms. Vo Thi Khanh Trang, Deputy Director of Savills Research Department in Ho Chi Minh City, with the change of the townhouse market after 3 outbreaks, the 4th outbreak with a fast-spreading speed and prediction. The strongest impact on the socio-economic situation will be the stronger blow to the townhouse in Ho Chi Minh market.
Savills experts assess that the non-central area is more affected than the central area. The high concentration of office buildings, high-class hotels, and tourist attractions can attract retail/brand tenants both at home and abroad to open stores.
Therefore, the premises in the central area will still be more sought after than the non-CBD areas. Savills’ market research in the first quarter showed that the vacancy rate in the midtown area was only 3%, while the vacancy rate in the non-CBD area tends to increase to 7%.
In the short term, the townhouse rental market may continue to face paying or reducing rents and difficulties in finding new tenants. “The landlord will no longer have the upper hand. Tenants will take advantage of more options to keep up with the trend of changing consumer behavior. That is opening a store in a mall or expanding further. marketing and selling online,” said Ms. Trang.
Many shops are closed, and rental signs are hung close together on the street.
In the long term, Ms. Trang is still optimistic that the retail space market in general and the townhouse rental market, in particular, will have many positive signals.
Macro indicators are still forecasted to grow despite slowing down; Retail sales of goods in Ho Chi Minh City have recovered after each epidemic and achieved high growth rates of 12% in 2020 compared to 2019 and even in the first quarter compared to the same period last year.
Sharing about solutions for units doing business at physical premises in Ho Chi Minh City to survive in the most complicated epidemic situation ever, Ms. Trang said that businesses need to understand. changes in consumer behavior and changes in general trends.
“Besides asking for support from landlords, businesses also need to transform themselves to hold and expand customer sources. Depending on their financial capacity, small and medium-sized businesses can temporarily stop operating to cut losses or reduce the leased area and the number of rented spaces to maintain efficient businesses,” said Ms. Trang.
“At the same time, they need to strengthen brand promotion through e-commerce channels, increase delivery, care, and after-sales services to customers,” she added.
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5 REASONS BRANDED RESIDENCE IN VIETNAM ATTRACTS INVESTORS https://t.co/w1sOYVrwCj
5 REASONS BRANDED RESIDENCE IN VIETNAM ATTRACTS INVESTORS https://t.co/w1sOYVrwCj
— Property Hub Vietnam (@propertyhubvn) May 28, 2021
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5 REASONS BRANDED RESIDENCE IN VIETNAM ATTRACTS INVESTORS
Branded residence in Vietnam is said to be a place to accumulate long-term assets. With a history of nearly 100 years of development in the world, branded real estate or branded residence has proven its ability to withstand events and crises, is a tool for accumulating wealth. long-term product. In the context of the unpredictable pandemic, consumer behavior has changed drastically, this product line shows its advantages from both investment and settlement perspectives. Recently, the opening event of a luxury apartment project in Ho Chi Minh City has shown the interest of investors wishing to accumulate assets in the context of a volatile market.
BRANDED RESIDENCE: COMFORTABLE, PRIVATE, AND SAFE LIVING SPACE
In the trend that homebuyers pay more attention to health, green living environment, security, and safety, branded residence in Vietnam meet almost all criteria for finding a quality place to live. This product line is usually designed in a large open space, beautiful views, utilities, exquisite culinary services, wellness spas, and attractive amenities.
Branded Residence in Vietnam will grow strongly in the near future
The advantages of private space and a different system of high-class facilities help the branded real estate stand firm through many events. Paul Tostevin, a research expert shared in the report on branded real estate conducted by Savills, hotel brands will increase their activities in this segment, in the context of the hotel business is growing. face many challenges.
SUSTAINABLE ADDED VALUE
Experts say that in the period when investors are increasingly looking for safe funding channels, luxury real estate is attracting attention in the real estate market. The profitability of the product line is guaranteed by many foundational factors, making this segment one of the safest options.
That is why in 2020, the number of new projects in the luxury real estate segment in the world reached a record number, over 100 projects. Due to limited supply, luxury real estate often holds up well. The risk of devaluation from the deterioration of the building for branded real estate is minimized thanks to the brand’s investment in management and operation after the sale.
The average cost in this segment is usually 31% higher than another real estate
“When a brand attaches its name to a real estate project, they will continuously invest in the project, they will not sit idle. They invest in the project also for the benefit of the brand”, Mr. Paul Tostevin from Savills shared.
INTERNATIONAL BRAND HERITAGE
Branded real estate projects are developed based on a cooperation agreement between the project developer and the brand, often in the resort sector. Compared to conventional luxury residences, which are often developed by domestic or international real estate developers, hotel-branded real estate offers both buyers and users the attractiveness of real estate. leading to convenience, quality, familiarity in luxury experience, and peace of mind in operation management. This type of real estate is also guaranteed by a series of brand standards, making a difference in the market.
Similar to a branded handbag or a luxury car that brings quality, fashion, and style values, a real estate product with an international resort brand like Marriott in Ho Chi Minh City will bring the highest standards of quality. consistent standards of quality, management, and service, similar to New York or Dubai.
GUARANTEES OF BIG GAMES
To be associated with a famous global brand, the project must meet strict standards. The world’s leading brands such as JW Marriott or The Ritz-Carlton only select projects with the most prime and central locations of a city or resort, and select project developers. project with experience and capacity. This is a set of standards to control the quality and ensure the reputation of the brand.
Expert Muriel Muirden, who has spent more than 9 years working as deputy general director of strategy of WATG Group, said that the super-rich is increasingly interested in real estate in the core location of large urban centers. , because they understand that this is a safe haven for investments. That’s why there are more and more branded real estate projects in the city center instead of resort locations.
“Branded residence” is the most high-end segment
Brands are also often closely involved in the design and construction of a project to ensure the appearance and quality of the project conforms to the brand’s standards and identity. According to an analysis by Savills, the cost of developing a branded real estate project will be higher than that of a non-branded project, due to the high-class interior standards outperforming the market and the design giving a lot of space. common space and amenities.
BRANDED RESIDENCE GETS MORE EMOTIONAL VALUE
When owning a worthy real estate product, customers can indirectly assert their position in society. This is also a factor that acts as a “traction” to help buyers desire to own branded residence products, affirm their personal position and join the world elite community.
In Vietnam, Knight Frank’s The Wealth Report 2021 shows that there are 390 people with a net worth of 30 million USD or more. This number is forecast to grow by 31% over the next five years, reaching the world’s leading rate. By 2025, the number of people with a net worth of one million USD or more in Vietnam is estimated to increase to 25,812. The psychology of newly rich customers also contributes to the price difference of luxury real estate compared to conventional real estate, according to Savills analysis. With this customer group, luxury brands will be more attractive, because they see owning brands as a symbol of success.
The post 5 REASONS BRANDED RESIDENCE IN VIETNAM ATTRACTS INVESTORS appeared first on Property Hub Vietnam.
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LAND PRICE IN VIETNAM IS DIFFICULT TO REDUCE DESPITE THE SLOWDOWN IN TRANSACTIONS https://t.co/SQL4FhwD8p
LAND PRICE IN VIETNAM IS DIFFICULT TO REDUCE DESPITE THE SLOWDOWN IN TRANSACTIONS https://t.co/SQL4FhwD8p
— Property Hub Vietnam (@propertyhubvn) May 21, 2021
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LAND PRICE IN VIETNAM IS DIFFICULT TO REDUCE DESPITE THE SLOWDOWN IN TRANSACTIONS
The recent “fever” of land price in Vietnam has now subsided, but many are concerned that the “fever” is still smoldering and may continue to explode because the demand for land investment is still very large and many people are collecting money to wait to “catch the bottom”… With a series of solutions implemented by local governments, so far, the real estate “fever” has cooled down on a large scale. The situation of selling “stop-loss” is quite common.
“CUTTING LOSS” IS JUST A TRICK
Ms. Nguyen Phuong, a real estate investor with decades of fighting in this market, admits that: “This is just a “trick” to attract the attention of buyers, but the real estate price has not yet been established. did not decrease”.
According to Phuong, there are two reasons why real estate prices are falling. The first is because the recent land investors usually have their own money from taking profits from securities or withdrawing from bank deposits… Those who do not have enough capital to buy a lot/a piece separately, call on you. friends and family together. As a result, they have almost no pressure to pay off debt and need to sell at all costs. There are very few cases in which financial leverage must be used and the “stop-loss” must be accepted.
The second is that even if you get capital in the current context, you don’t know how to invest in other fields to make a profit.
Besides, several investors are putting money to wait, even hunting for cheap places, were to “cut losses” to “hug” in. This makes it difficult for land price in Vietnam to fall even if the transaction slows down.”
Also talking about the above fact, Mr. Nguyen Van Dinh, Deputy General Secretary of the Vietnam Real Estate Association analyzed: Covid is still complicated, the pressure of the market in the context of other economic sectors continues to be difficult. If there is no change in the official supply, even though the market’s absorption rate is low and slow, real estate prices still cannot decrease.
Moreover, in addition to the influence of Covid, real estate prices are also affected by the increase in input costs: the price of land, construction materials, etc., currently tend to increase. Therefore, in the short term, talking about real estate prices down is unlikely.
Meanwhile, according to Ms. Do Thu Hang, Senior Director, Ministry of Research and Consulting, Savills Hanoi, recently, the “fever” of land has subsided, but we still see the selling price of land. Real estate, especially land prices in some areas have increased and have virtual signs. This situation will not benefit all parties, so investors will need to make appropriate moves.
IN THE SHORT TERM, IT IS UNLIKELY THAT THERE WILL BE A LAND FEVER PRICE IN VIETNAM
Ms. Hang also predicts that, at least in the short term, the land fever will not happen anymore. Because after the “fever” pushed the price up, investors could not participate right away but also had to wait for the market to correct itself down to a reasonable threshold. Looking from the previous reality, when there are phenomena that exceed the real value, investors themselves also find that they need to adjust, unable to ride on high waves and take back a lot of risks. That is not to mention the current cash flow into real estate is also controlled, related to the regulation of short-term and long-term capital investment and some other tools for managing real estate business activities.
“In this context, we should invest in areas where land or real estate with land can be put to use. And if investing in the direction of “leave it” or invest in the long-term nature of the crowd, is not a reasonable solution. After all, that leads to not guaranteeing the desired profit. On the other hand buried capital. The liquidity of some areas is not high, which will make the pressure of capital use inefficient. Currently, investors have to self-regulate their investment activities in the short and medium-term, at least this year,” said Ms. Hang.
Sharing the same opinion, Mr. Matthew Powell, Director of Savills Hanoi added: “The phenomenon of land price increase, in essence, will lead to the market needing a certain time to rebalance between real supply and demand, which may be possible. establishing a new price base, creating room for development for localities and provinces. We hope the new price base will soon stabilize.”
However, a representative of Savills noted that it will take time for real estate prices to adjust. Obviously, in markets where there has been an increase in price transactions, the adjustment to the equilibrium price will take longer.
It is a fact that we realize that real estate, especially residential real estate, is always an attractive long-term investment channel, and is one of the ways to diversify the investment channels of investors. invest. But we still need to be careful about considering the value of this long-term investment channel. Only when the investment area has potential for development, then the investment is a decision to make.
The post LAND PRICE IN VIETNAM IS DIFFICULT TO REDUCE DESPITE THE SLOWDOWN IN TRANSACTIONS appeared first on Property Hub Vietnam.
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FOREIGN INVESTOR POUR CAPITAL INTO VIETNAMESE REAL ESTATE https://t.co/Ygu62xUAnI
FOREIGN INVESTOR POUR CAPITAL INTO VIETNAMESE REAL ESTATE https://t.co/Ygu62xUAnI
— Property Hub Vietnam (@propertyhubvn) May 14, 2021
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FOREIGN INVESTOR POUR CAPITAL INTO VIETNAMESE REAL ESTATE
FDI inflows into real estate in the first quarter increased sharply thanks to foreign enterprises’ confidence in Vietnam’s ability to control the epidemic, and major trade agreements were signed. In the report announcing information on the housing and Vietnamese real estate market in the first quarter, the Ministry of Construction affirmed that Vietnamese real estate has always been an attractive field for foreign investors, after the processing industry.
FDI CAPITAL POURED INTO VIETNAMESE REAL ESTATE INCREASED SHARPLY
By the end of March 20, the total newly registered capital, adjusted and contributed capital to buy shares of foreign investors in the real estate sector was 10.13 billion USD, up 15.56% compared to the first 3 months. 2020. The total accumulated registered capital in the real estate sector in the first quarter is 0.6 billion USD, up 56%.
Real estate businesses are in need of long-term loans.
There are many reasons for FDI inflows into the real estate sector as Vietnam has political stability, economic growth, and has actively improved the investment environment. In addition, the transition between the 2014 Investment Law and the recent 2020 Investment Law has had a positive effect on the issuance/adjustment of foreign investment projects in Vietnam.
According to forecasts, FDI inflows into Vietnam in the coming time will be even larger because foreign businesses believe in Vietnam’s ability to successfully control the epidemic. Besides, with major trade agreements signed, Vietnam can completely compete with other countries in the region in attracting FDI.
Meanwhile, in terms of credit granting, the Credit Department for Economic Sectors (SBV) said that the credit growth rate in the first quarter was higher than the 1.3% increase in the same period last year. last year. With this increase, the credit balance of the economy has reached over VND 9.46 million billion.
By the end of February, credit to the agriculture, forestry, and fishery sector reached VND 776,918 billion, up 0.16%; industry and construction reached 2.6 million billion, up 1.13%; the trade and service sector reached nearly VND 5.9 million billion, up 0.52% compared to the end of 2020.
Credit in the Vietnamese real estate sector is 1.8 million billion VND, up 2.13% compared to the end of 2020 (real estate business increased by 2.82%). Real estate credit has fluctuated in recent years, but the growth rate has slowed down (in 2019 it increased by nearly 30%; in 2020 it increased by over 11%; in the first quarter, it increased by about 3%).
Despite the epidemic, foreign investors still choose to invest in Vietnam
The Ministry of Construction said that real estate credit is still being strictly controlled, and at the same time, it can be said that the reason for the recent increase in the real estate market is not only from credit.
According to the analysis of experts, there is a phenomenon of financial resources instead of moving into production and business due to the Covid-19 epidemic, causing a series of difficult production and business establishments to switch to real estate. In addition, the savings interest rate has dropped sharply over the past time, causing idle cash flow to move into the real estate investment channel.
REAL ESTATE BUSINESSES INCREASE LOANS THROUGH BOND CHANELS
Regarding the issue of bonds, in the first 3 months of the year, the corporate bond market developed actively, showing that the long-term capital needs of enterprises are very large, while it is not easy to get loans at banks. because businesses have not really recovered from the pandemic. In particular, real estate businesses increased sharply in both issuance value and interest rates.
The Vietnam Bond Association reported that in March, businesses had a total of 19 bond issuances with a total value of VND 8,035 billion. Real estate enterprises continued to lead in terms of issuance value with VND 5,460 billion, equivalent to 68%.
Some real estate companies mobilized bonds with great value such as Nhat Quang Real Estate Development JSC (2,150 billion VND), Smart Dragon Investment JSC (1,900 billion VND).
In early January, many large real estate enterprises also participated in raising capital from the bond market. For example, Vingroup announced the offering of nearly 70 million bonds for the purpose of financing its subsidiary’s operations. Each bond has a par value of 100,000 VND with a term of 36 months, with a total value of nearly 7,000 billion VND.
Real estate has a lot of potential in the future
From the end of 2020 until now, bonds of real estate companies tend to have longer maturities, with an average of about 3.8 years, 1 year longer than in 2019; The average bond interest rate has also increased by nearly 210 basis points, from 9.7%/year to 11%/year.
For example, in the recent bond issuance, Sunshine Group called for capital with an interest rate of 11%/year, Novaland with an interest rate of 10.5%, or especially Phat Dat issued bonds with an interest rate of 14%/year. year. The most notable is Apec Group with Happybond bonds with guaranteed interest rates up to 13%/year guaranteed by expensive real estate in big cities.
According to experts, the increase in the issuance of bonds by real estate enterprises with high-interest rates represents the long-term capital needs of enterprises, as well as the effects of the industry’s outlook and the impact of other factors. the epidemic to the need to structure longer terms of bond issuers in the real estate industry.
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WHERE DOES REAL ESTATE INVESTMENT COME FROM? https://t.co/0xD1aEpTJ7
WHERE DOES REAL ESTATE INVESTMENT COME FROM? https://t.co/0xD1aEpTJ7
— Property Hub Vietnam (@propertyhubvn) May 7, 2021
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