Articles worth reading
Image : Madeenaty; Magic Millions 2017; David Hayes

Madeenaty; Magic Millions 2017; David Hayes

person Orange Themes access_time Jan 12,2017

Madeenaty; Magic Millions 2017; David Hayes “Madeenaty went a bit cold with me when she won the Magic Millions race in NSW. She won the race, but from a point of view of taking the next step into the MM Classic, I would have liked her to be a bit

Image : Who is Caitlyn Jenner, when was she known as Bruce Jenner, what's her net ...

Who is Caitlyn Jenner, when was she known as Bruce Jenner, what's her net ...

person Orange Themes access_time May 12,2017

Who is Caitlyn Jenner, when was she known as Bruce Jenner, what's her net ... CAITLYN Jenner is currently promoting her new memoir, The Secrets Of My Life and has been hitting the headlines after opening up about undergoing gender reassignment

Image : How did Nguyen Thi Phuong Thao build Vietjet Air?

How did Nguyen Thi Phuong Thao build Vietjet Air?

person Orange Themes access_time Jun 04,2016

With Vietjet Air, Thao did not hesitate to attract attention and stir controversy.

Latest blog articles

Have Vietnam’s relaxed rules caught on with foreign homebuyers?

access_time Jan 09,2017 chat_bubble_outline 42 views
Have Vietnam’s relaxed rules caught on with foreign homebuyers?

Ho Chi Minh City's property market experiences strong growth in the last quarter of 2016. Photo by VnExpress/Nguyen Thanh Van

When Vietnam opened up its housing market to foreigners in July 2015, many thought there would be so many buyers rushing in to grab the villas and apartments here.

But after a year and a half since ownership restrictions were removed, it seems nothing like that has happened.

Troy Griffiths, deputy managing director of real estate company Savills Vietnam, said that the relaxed rules make Vietnam as appealing as Malaysia and Thailand, which have already taken similar initiative to drive home sales to foreigners.

But the new policy, he said, has not been doing much for the Vietnamese economy so far. “It’s not been anywhere near as sensational as we all expected,” Griffiths told VnExpress International.

He estimated that the number of sales has not reached thousands yet. His company has reported less than a hundred sales, mostly in high-end products, and smaller apartments to Taiwanese and Singaporeans.

There are around 80,000 foreigners working and living in Vietnam. Before July 2015, each of them could only buy one apartment here, under conditions that they were either married to Vietnamese nationals, held managerial positions, or had contributed to the country.

Industry insiders believe that easing ownership restrictions have at least created more interest in the local housing market. But many often complain that regulations and paperwork in general are still very complicated for foreign buyers.

Griffiths said that theoretically, there should be no regulatory problem with the new policy.

He said it is not easy to say for sure why the policy has not been a big success as expected. But he said the country might need more time for the new rules to work out, pointing out the case of Malaysia, which has implemented a similar law for more than 10 years and has only seen 3,000 foreign buyers a year at most.

Real estate was Vietnam’s best growing economic sector in 2016 with 3,126 new companies in 2016, a staggering 84 percent annual increase.

But it also saw a nearly 70 percent rise in closures, only after agriculture and healthcare.

“It’s an extremely competitive sector,” Griffiths said.

He said the competition will continue in 2017 with a lot of supply coming on.

A report released by Savills Vietnam on Monday showed strong growth in all asset classes in Ho Chi Minh City, the country’s most crowded city, in the last quarter of 2016.

Tourism boom, new public transport projects, and the current low rate of urban citizens will be key drivers for Vietnam’s property market in 2017, it said.

More than 60,000 apartments are expected to enter the market in 2017 and 2018, with a strong growth in the mid-end and affordable segments, the report said.

Only 34 percent of Vietnamese are living in urban areas, and according to Griffiths, there’s a lot of room for residential development.

An oversupply will be good for the competition, Griffiths said, dismissing concerns of a bubble similar to the one that hit the market nearly a decade ago. “The good developers will continue on and the poor ones will drop away,” he said.

Trump triumph deals body blow to US brand

New York (AFP) - With his stunning election triumph, Donald Trump has emblazoned his name in golden letters on the brand of the United States.The superpower of soft power that produces much of the world's most-loved music, movies and technology on Tuesday chose a president who is wildly unpopular in close US allies.Trump's surprise election could have far-reaching effects for the US image with potential consequences for companies, universities and tourism.Still, the extent of Trump's impact… chat_bubble_outline Read More...

GIC faces possible $5.6b loss on UBS bet

Read on the original site chat_bubble_outline

Live AFL Super Saturday: Follow all the round 2 action

Read on the original site chat_bubble_outline

More than 100 fast-spreading wildfires rage in Chile

CONCEPCION, Chile (AP) — Flames from more than 100 raging wildfires in Chile continue to spread quickly from the mountains to the Pacific Ocean, destroying forests, livestock and whole towns in a destructive path that is now dangerously close to the coastal city of Concepcion.Authorities say they found a body Friday, raising the overall death toll to 11. About 118 fires remain active and 53 of those are contained.Officials are hopeful that light rains and lower temperatures Friday will provide… chat_bubble_outline Read More...

Ban Gioc among Earth's most beautiful waterfalls

Russia’s Sputnik agency has revealed top 16 most beautiful waterfalls on Earth in observance of World Water Day (March 22), including the Ban Gioc waterfall on Quay Son River in the northern mountainous province of Cao Bang. The Ban Gioc Waterfall measures 35 metres high and spans 300m. Great water columns can be seen from a distance. It is separated into three layer-falls by rocks and trees. Large volumes of water pouring down to lime stone steps form a curtain of white spray. Rounding on… chat_bubble_outline Read More...

folder_open Assigned tags



Trends in Singapore

Trends in Indonesia

Trends in Philippin