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New property law piles risk on banks

HCM CITY (VNS)— A proposed decree to guide the recent amendments to the Law on Real Estate Business that requires housing developers to get guarantees from banks before they can sell or lease out units needs to be more specific to ensure safety, a developer has warned.

Japanese group invests in HCM City

HCM CITY (VNS) — Japan's Creed Group, a real estate firm specialising in principal investment and property development, has signed a comprehensive investment co-operation contract with An Gia Real Estate Investment and Development JSC.

Nearly $1.7b of FDI pours into real estate market

HCM CITY (VNS)— The country's property market attracted US$1.69 billion in foreign direct investment (FDI) for 15 projects in the first seven months of 2015, according to the Foreign Investment Agency. This figure accounted for 19.3 per cent of the total FDI capital of $6.92 billion.

Foreigners Buy Houses In Vietnam - Stimulus Resource For Real Estate

On July 1st 2015, the law for foreigners to buy houses in Vietnam began to take effect. 2015 07 15 1This will make the real estate market have a larger demand. Thus, for approaching international standards, the investors have to adjust operations, ways of working and management to introduce the products with strict requirements on quality and attentive service ... so as to meet the requirements of this new market.

City's real estate boom needs good planning

While residential developments in the west and north of HCM City have few customers, the property spotlight is falling on the east and south of HCM City where Districts 2, 9, and Binh Thanh are seeing plenty of transactions.

Vietnam real estate market continues attracting foreign investors

Foreign direct investment (FDI) capital to Vietnam’s real estate market has continued increasing recently with high-value deals of many giants from South Korea, Japan and Singapore. The Foreign Investment Agency under the Ministry of Planning and Investment reported as of July 20, the country has licensed 1,068 new projects with the registered capital of US$6.92 billion, up 1 percent over the same period in 2014

VIR - New law widens foreign home rights on July, 2015

With a majority of 77 per cent vote the National Assembly last week passed the long-awaited amended Law on Housing which would expectedly make positive changes to home-ownership rights for foreigners. Bich Ngoc reports.

Foreigner property rights to boost Vietnamese realty market

Viet Nam's real estate market will become more competitive within the region because foreigner property rights will soon be allowed, Savills Viet Nam said in a statement last November 26.

Vietnam real estate market continues attracting foreign investors

Foreign direct investment (FDI) capital to Vietnam’s real estate market has continued increasing recently with high-value deals of many giants from South Korea, Japan and Singapore.

The Foreign Investment Agency under the Ministry of Planning and Investment reported as of July 20, the country has licensed 1,068 new projects with the registered capital of US$6.92 billion, up 1 percent over the same period in 2014.

Of these, real estate was ranked second with 15 new and seven supplementary capital projects at a total fund of US$1.69 billion, accounting for 19.3 percent FDI capital.

Experts said that the real estate market had experienced long-lasting difficulties but been still attractive to foreign investors, who have sped up investment via many forms.

The most outstanding deal recently was Japanese Creed Group’s contract to invest US$200 million in An Gia Investment. Of the fund, US$20 million will be spent on An Gia shares and US$180 million will be for housing projects to supply Japanese quality apartments in Ho Chi Minh City.

Director General of An Gia Investment Nguyen Ba Sang said that they were expected to market about 10,000 high class apartments in the city’s central districts by 2020.

The company has implemented four projects worth VND3 trillion (US$138 million) to provide nearly 2,000 apartments and been under negotiations to buy ten parcels of land in districts 2, 4, 7 and Tan Binh with investment capital approximating US$1 billion.

The contract with the Creed Group will provide the company with a steady financial source for its projects, he said.

Previously, the Japanese Group had poured US$100 million into a project in Vo Van Kiet Boulevard of 577 Investment Joint Stock Company.

Besides, VinaCapital Vietnam Opportunity Fund Ltd has invested US$15 million as part of a US$47 million syndicated investment into convertible preferred shares of Novaland Group Corporation.

Foreign ownership room at Khang Dien House Trading Joint Stock Company (49 percent) has been full with the largest investors namely Vinacapital, Dragon Capital, Mutual Fund Elite, Vietnam Holding and SAM.

The real estate market had been advantageous in some big cities of Vietnam. From macro view, the Government was going to conclude Trans-Pacific Partnership negotiations which would open big opportunities for the country’s economy to attract international investors, said Mr. Toshihiko Muneyoshi, chairman of the Creed Group.

Vietnam’s real estate market has other advantages from the policy to permit foreigners’ house ownership in the country and young population who are mainly living in urban areas with limited housing fund.

Statistics from real estate exchanges show that the number of foreign customers has significantly increased since July this year.

Deputy Chairman of Novaland Bui Cao Nhat Quan said that their exchange’s successful transactions reached 300 apartments monthly. Of them, five percent has foreign factor, meaning husband or wife are foreigners, and 10 percent are oversea Vietnamese.

Most foreign customers have paid attention to high-class and high-quality projects in center areas, good legal status and investors’ prestige, according to Commercial Real Estate Services Company (CBRE).
 
Chairman of Ho Chi Minh City Real Estate Association Le Hoang Chau said that some regulations of the revised Housing Law which permit foreign individuals and organizations to own houses in Vietnam should be shortened or streamlined to promote the policy’s effectiveness. Decrees and circulars should be clear to facilitate house trading.

By Do Tra Giang – Translated by Hai Mien

* More informations, please contact: An Phat Real Estate - Hotline: 0938.218.206 or saigon4sale4rent@gmail.com

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