HomeMemberlistUsergroupsSearchRegisterLog inFAQAnnouncementCalendar
Current Time

Latest topics
» : “MAYOR JENNY A. BARZAGA 2nd Table Tennis Cup 2011"
by cleamaes Tue Jan 31, 2012 4:20 pm

» 4Videosoft DVD to ipad suite helps you to rip DVD rapidly
by skygirl Sat Nov 26, 2011 11:42 pm

» Real estate market paralyzed as giants fall into insolvency
by mrthought Sat Oct 29, 2011 12:54 pm

» Vietnam office rents to fall 7% in 2012, Jones Lang Lasalle says
by mrthought Sat Oct 29, 2011 12:53 pm

» Vietnam Struggles to Attract Foreign Property Investment
by mrthought Sat Oct 29, 2011 12:52 pm

What brand of blade do you use ?
 41% [ 18 ]
 18% [ 8 ]
 5% [ 2 ]
 14% [ 6 ]
 7% [ 3 ]
729 Friendship
 7% [ 3 ]
 2% [ 1 ]
 2% [ 1 ]
 2% [ 1 ]
 2% [ 1 ]
Total Votes : 44
free forum

Share | 

 Foreign real estate investors set to pounce

Go down 

Number of posts : 92
Location : USA
Member of : forumotion
Registration date : 2010-08-28

PostSubject: Foreign real estate investors set to pounce    Sun Aug 28, 2011 1:03 am

The State Bank of Viet Nam’s tightening of monetary policies will benefit powerful foreign real estate investors and hamper local firms, according to property market analysts.
SBV and Government efforts to curb inflation since February this year, have made it difficult for real estate developers to access credit, leading to a decline in property projects.
Last May, CapitaLand announced that its subsidiary-CapitaValue Homes had bought a 65 per cent stake in Quoc Cuong Sai Gon JSC for VND121.2 billion (US$5.9 million).
In addition, CapitaValue Homes purchased three other projects in Viet Nam, including the acquisition of An Khang real estate company in District 2, HCM City.
According to HCM City authorities, there had been 20 real estate transactions between foreign, joint venture and domestic firms this year.
In Ha Noi, there have been fewer M&As but the trend is still up on last year.
Georgia (US) -based Archi Group now holds a large number of shares in real estate developers Song Da River Tourism Company and Kim Boi Tourism JSC.
Nguyen Van Duc, deputy general director of property firm Dat Lanh, said buying and selling was mostly conducted through banks and that tightened lending policies had made life difficult for local firms.
Duc added that there was a real danger of foreign firms cashing in on the depressed Vietnamese real estate market.
Duc fears that most real estate projects will fall into the hands of foreign investors. He attributes the difficulties the real estate market is facing to an imbalance in supply and demand. He said most people could not afford to buy an apartment costing VND2-VND4 billion (US$96,000-$193,000) without taking out a mortgage. As a result of a tightening in bank lending, a large proportion of mid – to high-end flats cannot be sold, he said.
Neil MacGregor, deputy director of Savills Viet Nam, said increasing inflation, economic instability and high lending rates would result in a spurt in M&As in the real estate market this year.
Le Hoang Chau, chairman of the HCM City Real Estate Association, said M&As would enable local firms to weather tough economic times.
William Young, MIPIM ASIA’s senior project director, said at a recent press briefing in Ha Noi that Viet Nam was an ideal destination for real estate investment this year.
He predicted that in the next two to five years, Viet Nam’s real estate market would become increasingly attractive due to growing liquidity.
Within the short term, investors would chiefly plump for apartments, trade centres and hotels, Young added.

Read more News about real estate in vietnam

real estate | real estate in vietnam | vietnam real estate
Back to top Go down
View user profile
Foreign real estate investors set to pounce
Back to top 
Page 1 of 1
 Similar topics
» Clay Matthews on Ebay... Fake or Real?
» The real price of protein ???
» Real GP 99G has open spots for players
» The REAL Scott Sterling...
» Recognize the Real (Motion) OBA tryouts this saturday

Permissions in this forum:You cannot reply to topics in this forum
Vernlen Table Tennis & Chess Club :: All About Table Tennis ::   :: History-
Jump to: