Latest blog articles
More foreigners are buying apartments in Vietnam
The management board of an apartment building which delivered units to buyers in the first quarter of 2016 said that foreigners have been living in at least 20 apartments of the building.
Kevin, a biology specialist from the Netherlands, said he not only has an apartment on the seventh floor, but also has bought another on the 16th floor for leasing at $2,300 a month.
The man said the prices of the two apartments have increased since he bought them. However, he will not sell the apartments, because he plans to live for a long time in Vietnam and earn money with the apartment for lease.
Many foreigners have bought houses in Vietnam since the government removed strict regulations on foreign ownership.
Most of the 700 apartments sold to foreigners recently in HCMC are in the central areas of the city with good living space. Foreigners not only buy houses to reside in, but also to do business.
Many institutional and individual investors bought houses to lease, mostly the high-end apartments in the ‘golden land areas’ of the city.
A survey conducted by the HCMC Construction Department showed that since 2015, the apartment price has increased by 5-15 percent compared with 2014 thanks to higher demand. It is expected that 2016 would witness a ‘growth rate which must not be lower than 2015’.
According to Savills Vietnam, a real estate service provider, the apartment-for-lease market was bustling in the first quarter of the year with 4,400 apartments from 82 projects in supply.
The average leasing capacity has been stable at 83 percent. The business saw considerable improvement with the average rental up by 4 percent compared with the quarter before, and the capacity up by one percentage point.
Savills Vietnam’s CEO Neil MacGregor noted that buyers were paying attention to the view from apartments, which explains why the apartments with beautiful views always have higher selling prices than others.
Buyers are willing to pay high prices if they can get apartments which can satisfy them.
Also according to HoREA, $5.5 billion worth of kieu hoi (money sent by overseas Vietnamese to their relatives in Vietnam) was remitted to HCMC in 2015 and $1.15 billion in the first quarter of 2016. It is estimated that 21.6 percent of kieu hoi flows to the real estate sector.
HCMC attracted $1.3 billion worth of foreign direct investment (FDI) into the sector.
Caution over instant foreign property boom
80 percent of Phu Quoc real estate buyers are from Hanoi
Hanoi to conduct more fire-safety inspections at apartment buildings
NCDT Read on the original site
Vietnam to invest $1.2 billion in airports as passenger numbers skyrocket
The country has decided to pour more than VND26 trillion (nearly $1.2 billion) into upgrading infrastructure at a number of its airports from 2016-2018. The Airports Corporation of Vietnam said that the growing numbers of passengers in recent years has put great pressure on airport infrastructure. Vietnam’s airports are designed to serve about 80 million passengers per year, but that figure has already reached 63 million in the first four months of this year, ranking Vietnam fourth in… chat_bubble_outline Read More...
Battle for Mosul: a key test for US military strategy
Washington (AFP) - The Mosul offensive is a critical test for the Pentagon's strategy against the Islamic State group, which relies on local forces and keeping as many Americans as possible away from combat.After IS overran large parts of Iraq and Syria in early 2014, the United States formed a coalition that launched an air campaign to strike the Sunni extremists and to train local, partnered forces to do the fighting.Here are the basic elements of that coalition:Coalition numbersThe anti-IS… chat_bubble_outline Read More...
Apple weathers anti-US demo in China after South China Sea ruling
Some protesters chanted: "Boycott American products and kick iPhones out of China." Apple Inc found itself on the receiving end of a small, short-lived anti-U.S. protest this week in China, the tech firm's biggest overseas market and a country where foreign firms have suffered damaging boycotts following international spats. A handful of unofficial Apple stores were picketed and social media users encouraged each other to destroy their Apple goods, in a rare instance of the tech firm being… chat_bubble_outline Read More...
Ash Wednesday (Jonathan Storment)
Read on the original site chat_bubble_outline Read More...
Islamic State on the defensive: UN report
United Nations (United States) (AFP) - The Islamic State group is militarily on the defensive, facing a drop in revenue from oil and extortion and a shrinking ability to attract new recruits, according to a new UN report released Monday.UN Secretary-General Antonio Guterres warned however in the report to the Security Council that IS jihadists continue to pose a grave threat and are "partially adapting" to losses on the battlefield."ISIL is militarily on the defensive in several regions,… chat_bubble_outline Read More...