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The apartment discount trend under pressure of bank loan repayment in late 2011 was expected to continue this year, but Vietnam’s property market has yet to record any sell-off like several other countries, experts said. |
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Although the real estate market is not out of the woods yet, it is likely that low cost housing projects will start to heat it up in the second half this year. |
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Limitless World Vietnam recently received an amended investment certificate for its $550 million Halong Star hotel project in northern Vietnam. |
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The State Bank of Vietnam (SBV) has assigned the Vietnam Bank for Industry and Trade (Vietinbank) to arrange funds for the Hanoi Railway Station – Nhon urban metro rail project (line 3). |
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The Tuan Chau Ecopark township and entertainment project in Hanoi has been given a new lease of life after the developer’s revised design was given the official seal of approval early this month. |
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A credit agreement for the Hanoi-Hai Phong Highway project was signed on February 22 in Tokyo between the Vietnam Development Bank (VDB) and Sumitomo Mitsui Bank Corporation (SMBC) and Citibank of Japan. |
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At a meeting, held by the Hanoi People’s Committee, to discuss a draft master-plan for trade development in Hanoi towards 2020, with a vision to 2030, the Committee revealed that nine large malls are planned for construction. |
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Hanoi was placed 13th and Ho Chi Minh City 12th among the most expensive cities in Asia in 2011 in terms of three-room apartment rent, according to an accommodation report from ECA International. |
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“In many countries, the percentage of houses for lease accounts for up to 80-90 percent. Vietnam has large populations and restricted land, so we do not encourage personal ownership of house,” says Deputy Prime Minister Hoang Trung Hai. |
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Ample supply of 21,000 apartments is likely to bring about price reduction in the quarter 2 of 2012. |
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