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Vietnam Real Estate Market News

Real estate bubble - the accessory to inflation

No official statistics have been released, but it is estimated that the volume of traded land has reached several millions hectares with the added value of 30-40 percent. The value of the land may reach tens of trillions dong which obviously accounts for a big proportion in GDP.

Oversupply in resort real estate market

Five years ago, there were only several resorts, namely Mui Ne Domaine, The Nam Hai (in Binh Thuan province), or Olalani, Indochina Riverside Tower in Da Nang, and some in tourist cities of Nha Trang and Vung Tau. Most of them were foreign invested projects.

High grade apartment prices going down on profuse supply

FLC Company has announced the plan to put apartments at FLC Landmark Tower project on Le Duc Tho Road in Tu Liem District on sale for the second phase. The apartments are being offered at 28 million dong per square metre. The registrations to buy the apartments should be made

Investors wary of rising land prices

In Long Bien District, the price has surged from VND30 million ($1,500) per sq.m to about VND50 million ($2,600) in recent times. On Ngo Thi Nham Street in Ha Dong District, the price has increased to nearly $50 million ($2,600) per sq.m from $20 million ($1,000) last year. In My

First phase of Ha Noi bridge finished

Deputy Prime Minister Hoang Trung Hai inaugurated Vinh Tuy Bridges first phase on Septembet 26 in Ha Noi. The bridge is set to be the widest bridge in Viet Nam and is one of the major construction projects that is celebrating the 1,000th anniversary of Thang Long-Ha Noi.

Construction on Huu Nghi International Border Gate to cost 800b dong

The Management Board of Dong Dang-Lang Son Border Gate Economic Zone, Cao Loc Dist Peoples Committee and Dong Dang Town Peoples Committee have lately announced the construction milestone for construction project of Huu Nghi International Border Gate.

Savico starts construction on $20m Mercure Sontra Resort project

Located on Son Tra-Dien Ngoc St, in Bai Trem land plot, Son Tra peninsula, Tho Quang Ward, Da Nang City, the Mercure Sontra Resort is a high-class hotel-tourism-resort complex to be constructed with total area of 57,651 square metres, including a four-star hotel with 120 rooms and 22 high-end resort

Developers unhappy over new fees

Decree 69/CP, which becomes effective from the beginning of October, states that new land fees for real estate enterprises will be based on market prices. If the draft comes into effect unchanged, firms will be forced to pay the full market price, instead of 20 to 30 per cent as

Real estate trading inspections begin

The main subjects of the inspection are floors managed by groups, corporations and companies that are carrying out the construction of new urban areas. The inspection would focus on the opening and operation of property transaction floors, said Pham Gia Yen, chief inspector of the Ministry of Construction.

Price of apartment in HaNoi

Since then, the prices of older apartment units in four districts, including Hai Ba Trung, Dong Da, Ba Dinh and Cau Giay, have increased sharply, to an average of VND20-40 million (US$1,050-2,100) per square metre, according to Northern Green Land Real Estate and Services Company.

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