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Update news real estate market
VietNamNet Bridge - Large conglomerates in Vietnam have been quietly trying to buy rival companies or all or part of businesses because they want the companies' land.
VietNamNet Bridge - Expecting to be ‘Vietnam’s Las Vegas and Silicon Valley’, Da Nang has become a magnet for real estate developers.
VietNamNet Bridge - Many globally renowned investment funds have shown interest in the Vietnamese property market after announcing investment deals worth tens of millions of dollars in potential real estate firms.
VietNamNet Bridge - The 2014 Housing Law, which allows foreigners to own houses in Vietnam, has prompted real estate developers to introduce their projects overseas.
VietNamNet Bridge - Vietnam has the largest cement plant in Southeast Asia as well as many other plants, creating excessive supply. This has led to more merger and acquisition (M&A) deals in recent years.
The tourism property market has been hot this year with many new projects and increasing transaction volumes, insiders said.
VietNamNet Bridge - Real estate firms’ shares have become more attractive to investors as the property market recovery is expected to reap big profits.
VietNamNet Bridge - Some businesses have regained their strength after merger and acquisition (M&A) deals because foreign capital was pumped into the companies in a timely manner. Meanwhile, many others still are experiencing tough days.
VietNamNet Bridge - Ha Dong district and the western part of Hanoi have become hot areas for real estate developers because of big advantages in infrastructure and other facilities.
The reports about the real estate market in the first quarter of the year released by consultancy firms all show a sharp increase in the supply of high-end apartments in HCMC. This has raised concerns about oversupply in the near future.
Many incapable investors had to give up their projects as they could not survive the frozen market of the last few years. Now is the right time for financially powerful investors to take over these projects at reasonable prices.
VietNamNet Bridge - New credit packages to help stimulate real estate demand will be launched as the national VND30 trillion package for low-income earners ends disbursement in June.
Regulations banning the use of profits from property alienation to cover losses in other businesses discourage property firms from expanding their investments and make tax policies seem unfair, experts said.
VietNamNet Bridge - Though demand has increased as foreigners are now allowed to own houses in Vietnam, real estate developers dare not raise selling prices.
VietNamNet Bridge - Many banks began preparing to list shares on the bourse for many years, urged by the State Bank (SBV). But no further progress has been made.
VietNamNet Bridge – Statistics of the Ministry of Construction showed the value of real estate inventories had fallen to around VND44.85 trillion by the end of quarter one from roughly VND50.89 trillion late last year.
VietNamNet Bridge - Some Vietnamese brands have left large cities for rural areas, while others are under pressure from foreign competitors as the country integrates more deeply with the world economy.
VietNamNet Bridge - Vietnam is one of the biggest kieu hoi (overseas remittance) recipients in the world. But most profits from overseas remittance services go to foreign institutions’ pockets.
VietNamNet Bridge - Vietnamese manufacturers are equal in strength with foreign goods in the fast-moving consumer goods (FMCG) market.
VietNamNet Bridge - The Ministry of Planning and Investment (MPI) is drafting a legal document on allowing Vietnam to receive the venture capital flow, which is hoped to turn Vietnam into a country with startup movement.