Monthly Real Estate News I February 2023

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Vietnam - 02 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

Mixed sentiment of property buyers in 2023

www.markettimes.vn

Housing demand stays high due to increased net migration rate and urbanization rate. Real values will drive decision-making of home-buyers. Mr. David Jackson - CEO, Colliers (Vietnam) shares that the way for market to recover must target at the right customers and their capabilities, meeting requirements on functions and utilies, locations and clear legal status.

Dong Nai lacks land for investors?

www.tuoitre.vn

After falling from the top 5 position in attracting FDI, Dong Nai province worries about lacking land funds for domestic and foreign enterprises (FDI) to lease. Up to now, not much land bank remains in industrial parks where have been invested in building complete infrastructure, especially in key areas of Long Thanh, Bien Hoa, Nhon Trach.

Ba Ria - Vung Tau speeds up site clearance for Bien Hoa - Vung Tau expressway

www.thesaigontimes.vn

Site clearance and technical infrastructure relocation for the Bien Hoa-Vung Tau expressway project are being expedited. The project will affect over 1,240 households covering more than 138 ha in Phu My Town and Ba Ria City, adding that work on checking land lots for the project at these affected households was 87% completed.

Hanoi: Apartments and townhouses for rent grow strongly

www.doanhnhanvn.vn

Timid activities in transactions has been replaced by a robust growth of rental market. Rents and interest increase sharply in Hanoi, while townhouses in central districts set new record of highest rents.

Dong Nai is short of land in industrial zones to attract big investors

Mixed sentiment of property buyers in 2023

Vietnam - 03 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

The trend of eco-industrial parks increases

www.tapchitaichinh.vn

More attention is paid to the model of eco-industrial parks. Mr. Chi Vu - Senior Manager, Colliers (Vietnam) said that in order to drive the industrial real estate forwards, market participants should focus on logistics facilities, infrastructure, and the development of eco-industrial parks.

Taxing apartments over 50 million VND/sqm?

www.thanhnien.vn

The Ministry of Finance proposes to implement different regulations for apartments having prices above 50 million VND/sqm in order to contribute to ensuring fairness in regulating residential income. However, the proposal causes mixed opinions.

HCMC wants private investors to renovate road traffic system

www.vnexpress.net

HCMC wants to upgrade national highways and routes linking the city with other localities under the build-operate-transfer (BOT) method, according to a proposal made by the Department of Transport.

Commencement of Lai Xuan bridge connecting Hai Phong with Quang Ninh

www.baogiaothong.vn

On February 2, Hai Phong People's Committee held the groundbreaking ceremony of Lai Xuan bridge and the project of renovating and expanding provincial road 352. When put into operation, the bridge will create a new traffic route connecting the inter-region between Hai Phong and Quang Ninh.

Mr. Chi Vu

Senior Manager | Industrial Services Colliers (Vietnam)

High-class real estate is proposed to be taxed to limit speculation

Daily Real Estate News Highlights

Vietnam - 06 February 2023 Top Daily Updated

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Condominium market continues facing challenges in 2023

www.datviet.vn

Apartment supply is showing sign of improvement in HCMC, yet demands are limited by strict credit conditions. According to Colliers' Q4 Market Report, primary selling prices started to drop, however, home-buying demand continues to decrease because of credit barrier, and more customers delay their plans in the hope of getting better prices.

Hau Giang approves investment policy of 3 urban areas worth 1,800 bln VND

www.baodautu.vn

Three residential areas will be located in Mai Dam town, Chau Thanh district and ward IV of Vi Thanh city, with a total investment of 1,825 billion VND. Next step, the province will select investors to implement thesse projects in accordance with the bidding law.

Four IPs in Ha Nam province added to national master plan

www.vtv.vn

Four industrial zones include Dong Van V, Dong Van VI, Kim Bang I, and Chau Giang I with priority given to the development of new types of industrial park.

Van Phong Economic Zone to welcome many big investors

www.plo.vn

With specific decentralization policies to attract investment, Van Phong Economic Zone currently has 13 corporations proposing to invest in priority projects.

Condominium market continues facing challenges in 2023

Vietnam - 07 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Six forces shaping real estate in 2023

www.bds.tinnhanhchungkhoan.vn

According to Colliers' latest update, defensive assets such as office, industrial and logistics in Asia Pacific will continue to outperform other regions in 2023. An asset re-pricing is underway across major real estate market in APAC, and is expected to stabilize by mid-2023.

Flexibility needed in allocating credit rooms for real estate

www.laodong.vn

Credit is one of the important sources of capital for real estate, however, the short-term quality of this source can cause great risks as real estate is considered a long-term investment. Thus, flexibility in credit management is crucial to ensure the direction of capital flows to the right subjects and control risks.

AES receives Investment Policy Decision for 2.2 GW Son My 2 CCGT plant in Vietnam

www.vir.com.vn

US energy major AES received the investment policy for Son My II combined cycle gas turbine project in Quy Nhon city, Binh Dinh province.

FPT Software to build new technology complex in Binh Dinh

www.vneconomy.vn

A complex of research, production, and technology training centers with total investment of more than VND2 trillion expected to turn Quy Nhon into the artificial intelligence (AI) center of Southeast Asia.

The real estate market is returning to equilibrium

Six forces shaping real estate in 2023

Vietnam - 08 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

Colliers: An abundant capital is waiting for opportunity in real estate

www.cafef.vn

Mr. David Jackson, CEO of Colliers Vietnam, forecast that the real estate market will start to stabilize from mid-2023 when the interest rate situation is more certain. Despite uncertainties, the market remains an unsatisfy amount of capital waiting for investment opportunities. Office, industrial and logistics real estate will be the most interested in Vietnam in 2023.

HCMC has 138 investment-expired projects and 30 projects have stopped construction

www.phunuonline.com.

The Department of Construction of HCMC reported on the city's urban development in 2022. According to Decree 11/2013/ND-CP, there are 354 commercial housing projects in HCMC that have been approved for investment. After checking, HCMC's Department of Construction reported 138 projects have expired as prescribed in the investment approval decision.

Binh Dinh: Prime Minister requires to prepare and commence the Pleiku - Quy Nhon expressway

www.vneconomy.vn

The Prime Minister required Binh Dinh to urgently prepare, plan and implement the Pleiku - Quy Nhon expressway project, the section which will be done under public-private partnership model. The project is expected to create a strategic breakthrough in infrastructure of Gia Lai, Kon Tum and Binh Dinh, connecting the Central Highlands and the Central Coast.

Real estate market tensed up before the rescue meeting

www.cafef.vn

Businesses and people hope that the State Bank's conference on credit work for the real estate sector on the morning of February 8 will provide specific solutions. Accordingly, many units proposed a series of issues related to corporate and project credit.

Project Park Vista project in Phuoc Kien commune, Nha Be district is on the list of projects that have expired investment approval

Mr. David Jackson Chief Executive Officer Colliers (Vietnam)

Daily Real Estate News Highlights

Vietnam - 09 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

Some exceptional opportunities await in real estate market

www.cafeland.vn

Colliers projects that the current market conditions are opening new opportunities for equity-driven investors when the market has limited buy-side environment. To achieve higher returns, businesses are re-assessing their portfolio and investors are sharpening their strategies to find a right market and asset.

SBV: Credit rooms are sufficient for real estate

www.vnexpress.net

Top bank leaders assure "no shortage of credit rooms" or lending policies, but many corporate collaterals do not meet the legal requirements. Difficulties in capital mobilization and liquidity are due to the "problematic" structure of the real estate market and also to businesses.

Ha Noi to have a new 8-hectare Aeon Mall

www.zingnews.vn

The Hanoi People’s Committee has approved detailed planning for a new Aeon Mall on over 8 ha straddling Dai Kim and Thinh Liet wards in Hoang Mai district, with a parking lot capable of accommodating 4,000 vehicles.

HCMC:

Unable to start construction of 2,800 social housing units

www.phunuonline.vn

HCMC's Department of Construction sends a petition to the People's Committee to remove obstacles for 3 social housing projects facing legal problems in order to start construction in time. If construction is started, the 3 projects will provide 2,778 apartments.

The real estate credit conference was held by the State Bank on the morning of February 8.

Some exceptional opportunities await in real estate market

Vietnam - 10 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

Signs of foreign investments pouring to Vietnam

www.vnexpress.net

FDI in Vietnam projects good growth in H2 this year while Foreign Porfolio Investment (FPI) through securities remains unclear. Colliers expects APAC real estate markets to stabilize by mid-2023 with Vietnam keeps a consistent reputation of a safe play to park money amid global turmoil.

Ben Thanh - Suoi Tien No.1 Metro to be completed in Q4.2023

www.thesaigontimes.vn

The Prime Minister approves to adjust the investment policy of the first metro in HCMC, construction completion time in Q4/2023, warranty period of contractors from 2024-2025, and operation & maintenance time from 2024-2028

Ha Noi prepares a zoning plan for many

www.vneconomy.vn

industrial zones

Hanoi People's Committee issued a Decision on the addition of the list and planning of urban planning and construction planning for the period of 2021-2025. Accordingly, the list includes 4 projects: zoning planning scale 1/2000 Soc Son clean industrial park with a scale of 302.8 hectares; zoning scale 1/2000 Dong Anh Industrial Park with a scale of 300 hectares; zoning scale 1/2000 Bac Thuong Tin Industrial Park scale of 112 hectares; zoning scale 1/2000 Phung Hiep Industrial Park scale 174.8 hectares.

Work starts on Aeon Mall Hue

www.vietnamplus.com

Work on Aeon Mall Hue, the 7th mall of Aeon in Vietnam and the first of its kind in central region, began on February 11. Covering over 8.6ha, the shopping mall has total investment of more than 169 million USD and is expected to be put into operation in 2025.

A corner of Linh Dam urban area, Hanoi.

Ben Thanh - Suoi Tien No.1 Metro to be completed in Q4.2023

Vietnam - 13 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Taxing on the second property: Cannot rush

www.diendandoanhnghiep.vn

Experts say that collecting a second property tax is in line with market principles, but with special properties such as real estate, there should be no rush. According to Mr. David Jackson, CEO of Colliers (Vietnam), with the basic principle of the market, when you buy two items, you have to pay tax on those two items and they become your property. However, unlike other assets, real estate is a special kind of tangible fixed asset because land and space are finite resources. Therefore, according to Mr. David, the real estate market needs a mechanism to ensure that people who own more real estate share and contribute fairly to society

Binh Duong to establish Tan Uyen city

www.vnexpress.net

The National Assembly passed a resolution to establish administrative boundaries in 10 provinces including Tan Uyen city. The city was formed based on the status quo of 191.76 km2 of natural area, population size of 466,053 people, 10 wards and 2 communes of Tan Uyen town.

First % ARABICA store opens in Vietnam

www.thethaovanhoa.vn

% Arabica has just entered the Vietnamese market on February 12 at 42 Nguyen Hue St., District 1, HCMC. As of 2023, the chain has more than 100 stores in 18 countries, most of which are franchises. The brand cooperates with TKG Vietnam to bring first store in Vietnam.

Apple's supplier invests 260 million USD in Vietnam

www.cafef.vn

At the Conference on socio-economic development and assurance of national defense and security in the Red River Delta until 2030, with a vision to 2045, Thai Binh province leaders awarded the investment registration certificate for the project "Investing in the construction of a factory to produce and process electronic components, computer components, smart devices, etc." with a total investment of VND 6,467 billion. This is the project of Compal, one of the manufacturers of Apple and major global technology corporations.

An adjacent housing area in Tan Uyen city, Binh Duong in March 2021.

Mr. David Jackson Chief Executive Officer Colliers (Vietnam)

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers

Real estate: Finding a niche market

www.tinnhanhchungkhoang.vn

There's concensus that when cash is king, private buyers can bid for asset in an environment with limited buy-side competition. They are immune to market forces and will continue to be active despite market flux, Mr. Hoang Nguyen - Director, Business Development, Colliers (Vietnam) added.

Ho Chi Minh City revokes the 52-ha Saigon Silicon Park project

www.tienphong.vn

HCMC is preparing paperwork to terminate the Saigon Silicon City project, revoke its investment certificate and land allocated to the project within this year due to the project’s long delays.

Can Gio breaking through with a billion-USD ‘superport’

www.thanhnien.vn

The development of a billion-USD "superport" in Can Gio was mentioned twice last weekend. According to the plan to develop seaport infrastructure system in HCMC, investing in an international transshipment container port in Can Gio is a priority task for conducting research. Can Gio bay is an opportunity to create a turning point for HCMC and change the city’s development mode from land-based to sea-based growth.

Fear of responsibility in determining 'market' land prices halting many projects

www.tienphong.vn

The determination of ‘market’ land prices accounts for more than 50% of the projects’ problems, according to a report of the Ministry of Construction regarding the halt in construction of housing projects and urban areas. The reason is the anxiety of authorities about causing losses if the valuated price is lower than the market price.

Perspective of Saigon Silicon Park project.

Mr. Hoang Nguyen Director, Business Development Colliers (Vietnam)

Daily Real Estate News Highlights

Vietnam - 15 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

It takes 29 years to buy a house in Ho Chi Minh City

www.congluan.vn

Demand gets weak while selling prices of apartment show no sign of decrease. According to Mr. David Jackson - CEO, Colliers (Vietnam), the slowdown of housing market has hindered many economic sectors. New investment channels should be considered to ease the capital outflow, yet legal framework and tax regulation are required.

THACO to commence 24 realty projects in 2023, earn

VND126,000

www.cafef.vn

billion from automobiles and agriculture

The conglomerate aims to be a multi-industry industrial group. In real estate segment, the company is promoting legal work to commence 24 commercial and infrastructure projects, and handover 3 projects. The total investment value disbursed in 2023 is 6,731 billion VND.

Shopee predicts 3 consumer trends in Vietnam in 2023

www.dantri.com.vn

Three outstanding consumer trends expected to impact the digital economy in Vietnam in 2023, include the rise of time usage and proficiency on digital service platforms, the increase in the use of digital consumer services in small cities, and young people to become the main group of digital users.

Thai Binh breaks ground on VND2,214-bln Hai Long IP

www.congthuong.vn

On February 15, Bao Minh Industrial Park Infrastructure Investment JSC broke ground on Hai Long Industrial Park - Thai Binh Economic Zone. The project has a total infrastructure cost of VND 2,214 billion and is planned up to 7,000 ha of industrial land.

THACO to commence 24 realty projects in 2023, earn VND126,000 billion from automobiles and agriculture

Mr. David Jackson Chief Executive Officer Colliers (Vietnam)

Daily Real Estate News Highlights

Vietnam - 16 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

Challenges faced by domestic companies bring opportunity for foreign investors

www.dothi.realtimes.vn

According to Mr. David Jackson - CEO, Colliers (Vietnam), demand outstripping supply in all segment brings the Vietnam real estate market more potential. The FDI inflows will help diversify the sources and ease pressure on capital mobilization. Thus, the market would have more diversified products, improving competitiveness and standards in the industry.

Binh Duong allows subdivision and sale of land plots in housing projects

www.cafef.vn

Binh Duong Provincial People's Committee promulgates Regulations on areas where housing construction and business projects can be implemented for sale or for sale in combination with a lease, which is entitled to transfer land use rights in the form of subdivision and land sale in the province. Except for areas with high requirements for landscape architecture, the central area and around the works are architectural highlights in the urban area (the new urban area of the Industrial-Service - Urban Complex of Binh Duong).

Prime Minister approves urban planning for a province near Hanoi

www.tienphong.vn

Van Giang urban area (Hung Yen province) will be an important traffic hub of the Capital Region, the Northern Key Economic Zone, the Red River Delta and the whole country. The planning scale covers the entire area. natural area of Van Giang district 7,194.82 ha. According to forecasts, by 2040, Van Giang urban area will have about 363,000 people.

Hanoi plans three development axes to 2030

www.vnexpress.net

On the morning of February 15, at the meeting of the Standing Party Committee of Hanoi, Vice Chairman of the city Ha Minh Hai presented the outline of the orientation of the Capital Planning period 2021-2030, with a vision to 2050. The Red River is the green and landscape axis, the West Lake - Ba Vi axis connects the central urban area with satellite cities, and Nhat Tan - Noi Bai is the smart urban axis.

Binh Duong allows subdivision and sale of land plots in housing projects

Challenges faced by domestic companies bring opportunity for foreign investors

Vietnam - 17 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

What can be seen in the notary offices at the beginning of 2023?

www.dothi.realtimes.vn

Mr. David Jackson, CEO of Colliers (Vietnam) said that although investors should be cautious in 2023, opportunities can be found in the assets of industrial, retail or hospitality segments. Meanwhile, the residential real estate segment continues to face difficulties in terms of legality, liquidity as well as capital and is expected to last until at least the third quarter of 2023.

Prime Minister: Real estate businesses must take responsibility of themselves

www.zingnews.vn

Concluding the National Conference on promoting the healthy and sustainable growth of real estate market on February 17, Prime Minister said that governmental agencies, businesses and customers must altogether work out the problems. But first and foremost, real estate companies must act to save themselves.

Social housing for rent getting sluggish

www.diendandoanhnghiep.vn

Social housing projects must reserve at least 20% of the housing area for lease and investors can only sell after 5 years after putting into use. In fact, many projects cannot rent those aparments, leaving it vancant and wasted.

Diesel inks distribution deal for Thailand and Vietnam

www.retailinasia.com

Italian fashion brand Diesel has inked a new partnership with Jaspal Co., for the distribution of the luxury brand in Vietnam and Thailand. As part of the new Jaspal deal, Diesel also landed in Vietnam, in shopping mall Takashimaya, in Ho Chi Minh City, in the fourth quarter of 2022. The luxury goods market in Vietnam generated revenues of approximately USD 911.5 million in 2022, according to research firm, Cekindo.

The Prime Minister asked state management agencies, businesses and customers to join hands to handle problems of the real estate market.

Mr. David Jackson Chief Executive Officer Colliers (Vietnam)

Daily Real Estate News Highlights

Vietnam - 20 February 2022

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Da Nang apartment price reached nearly 150 million VND/m2

www.zingnews.vn

Luxury apartments in Da Nang were being sold at record high prices in Q4/2022. Colliers experts forecasted that the whole market will have 6 new projects opened for sale in 2023, providing nearly 4,000 luxury apartments from investors such as Sun Frontier, Sun Group, Alphanam... However, the majority of customers who buy apartments in Da Nang are mainly for investment and come from

Thai largest retailer to pour over $1.4bln in Vietnam

www.vietnamplus.com

Central Retail Corporation, the largest retailer of Thailand, announces its biggest investment in Vietnam at 50 billion baht ($1.45bln) in the 2023-2027 period to accelerate its market presence.

Adjusting the direction of retail strategies

www.vir.com.vn

Consumer shopping behaviour has changed since the pandemic, prompting major retailers to align their business strategies to be consistent with the changing situation.

HCMC: Latest updates on meeting to remove legal obstacles for 7 housing projects

www.vietnamnet.vn

HCMC leaders and real estate developers met on Feb 20 to work out 7 pending residential projects with problems of determining land use fees. Solutions expected to be announced next week.

Central Retail Corporation sees Vietnam as a high-potential market that posted continuous economic growth.

Average selling price of apartments in Da Nang

Daily Real Estate News Highlights

Vietnam - 21 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

The recovery of retail real estate

www.baodautu.vn

Consumer index remains positive post-pandemic, driving new retail developments and expansion plan in 2023. Ms. Trang Do, Manager, Retail Services at Colliers (Vietnam) shares that multiple retail platform is a rising trend. However, amid global uncertainties, the Vietnam's retail market will also be impacted. Some investors and big brands are investigating new premises with suitable locations, and waiting for market adjustments as well as more invesment incentives.

Apartment rents surge

www.plo.vn

Rental properties are performing well with apartment rents increasing 4% in HCMC and 8% in Hanoi compared to last year. highest rents recorded in apartments. Customer's interest also increases, showing stronger demand.

Government targets 95% public investment

disbursement

www.vnexpress.net

in 2023

At least 95% of the public investment budget, or VND676 trillion ($28.47 billion), must be disbursed this year to speed up growth, Prime Minister Pham Minh Chinh said on Feb 21.

Cleared land must be handed over to Long Thanh airport project in Q1

www.vietnamnet.vn

Deputy PM Tran Hong Ha told Dong Nai and the Airports Corporation of Vietnam to expedite the clearing of the remaining areas to deliver all sites of the first phase of the Long Thanh International Airport project this quarter.

Apartment rental prices in Ho Chi Minh City in January increased by about 4%.

Ms. Trang Do Manager | Retail Services Colliers (Vietnam)

Vietnam - 22 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

IP rents set new high record

www.zingnews.vn

Reaching 300USD/sqm/term, IP rents in Southern market expected to rise 5-10% this year with more room for growth. Mr. Chi Vu - Senior Manager, Industrial Services, Colliers (Vietnam) reveals 2 important industries shaping the investment landscape in Southeast Asia and recommendations for Vietnam.

Money can't buy social housing

www.thanhnien.vn

A credit package of about 110,000 billion VND is proposed to spend for social housing projects under the method of refinancing from commercial banks. However, there are many concerns that it will be difficult for people and businesses to access this credit package leading to social housing projects being "frozen" and there being no house to buy.

Do massive layoffs put industrial real estate market in trouble?

www.cafef.vn

Industrial real estate segment expected to face a quiet outlook in short term as IP developers are challenged by rising costs and delayed investment process.

Housing prices should be decreased to untie capital bottlenecks

www.baotainguyenmoitruong.vn

Economic experts said that, after a long time of price increase, real estate businesses must accept a reduction in selling prices to relieve financial obligations, so that people can buy houses, thereby opening the door. capital flows are congested.

Money can't buy social housing

The industrial real estate market sees continued interest from manufacturers around the globe.

Daily Real Estate News Highlights

Vietnam - 23 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

Property woes offer opportunity for some

www.vir.com.vn

After a period of rapid growth, the real estate market is currently in a restructuring phase to determine a more sustainable development direction, offering an opportunity for buyers and investors, so long as they have access to available capital.

Vietnam high-end home prices could fall over 10%, expert warns

www.asia.nikkei.com

High-end home prices are poised to fall this year as property speculators struggle with higher mortgage costs and are being forced to sell, according to industry executives.

Nearly VND 10,000 billion 'poured' into a series of projects in Hai Phong

www.tienphong.vn

Vietnam is experiencing a rare reversal in its property market with an oversupply of high-end apartments and shortage of regular housing

Hai Phong People's Committee awarded investment certificates for 3 projects of social housing, cell battery production, and container ship operation with a total investment of nearly 10,000 billion VND.

A series of key tourism projects in Ninh Thuan is unfulfilled

www.baodautu.vn

Many key tourism projects of Ninh Thuan province have been granted investment policies for more than 10 years, but have been continuously extended and have not been completed so far resulting in failure to put them into operation.

Industrial real estates boasting good growth rate

Vietnam - 24 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

HCM City high-end apartments remain empty despite steep fall in rents

www.vietnamnews.vn

While rents for affordable apartments remain steady in HCM City, they have fallen sharply and continue to do so in the case of high-end apartments. According to a report by Colliers (Vietnam), the highest rental for a serviced apartment has decreased from US$8,125 per month (VNĐ190 million) last year to $7,500 (VNĐ175 million) now.

What benefit could be derived from the amended Land Law?

www.cafef.vn

Experts say that the land law amended with many new points will help people to remove many problems that have existed for many years. According to experts, the removal of this land price frame will benefit people when the compensation price for site clearance will be close to the market price.

Vietnam’s 3 top pharmacy chains go their separate ways in strategy terms

www.vnexpress.net

After a period of scorching growth drugstore chains An Khang, Pharmacity and Long Chau have begun to diverge in their strategies. An Khang has stopped opening new stores, Pharmacity restructured and rationalized its chain and Long Chau now has the largest number of stores. In August 2022 Pharmacity had the most outlets -- some 1,100 after opening more than 200 during the year. But then it closed many of them to lose its leading position despite opening new ones in more strategic locations. It now has 936 to Long Chau’s 1,009, while An Khang has 504.

VND6.3 trillion to be disbursed for North-South expy this month

www.thesaigontimes.vn

The Ministry of Transport has announced it would disburse nearly VND6.3 trillion of public investment capital for the North-South Expressway project this month. The Government has tasked the Ministry of Transport with disbursing nearly VND94.2 trillion of public investment in 2023. According to its plan, the ministry would distribute over VND45.2 trillion to the second phase of the expressway project. It disbursed nearly VND1.2 trillion in January, aligned with the plan.

The revised Land Law will help resolve complaints from people about inadequate compensation.

Demand for high-end apartments in HCM City and their rents have been declining rapidly in 2023.

Daily Real Estate News Highlights

Vietnam - 27 February 2023

Top Daily Updated Real Estate News

Colliers Vietnam's Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

Colliers News

The real estate growth cycle will return

www.realtimes.vn

After a decade of booming, housing prices are plummeting in demand as interest rates soar in 2022. This drives dramatic changes in many real estate markets across the globe. According to 2023 Colliers Global Investor Outlook Report, the stabilization of global real estate market will take hold in a return to relative rationality by mid-2023.

HCMC: Apartment prices along Metro No.1 getting more expensive

www.zingnews.vn

Most of the projects near the Ben Thanh - Suoi Tien metro station are increasing rapidly, becoming more & more expensive. According to Rever's statistics, there are about 45 projects growing up close together along the Ben Thanh - Suoi Tien metro axis. It is worth mentioning that most of these projects were recorded with a price increase of 20-50% compared to the time of sale.

Ministry of Construction proposes to reduce the target of social housing development

www.vietnamplus.vn

The Ministry of Construction has just reported to the Prime Minister after consulting the Government members on the Project "Building at least 1 million social housing apartments for low-income people and industrial park workers in the period 2021 -2030." Specifically, the Ministry of Construction proposed to reduce the number of social houses built by 2030 from 1.4 million to more than 1 million, and the implemented capital was also reduced by 280,500 billion.

Commencement of a VND4,120-bln project connecting Hoa Binh-Hanoi with Son

La highway

www.thesaigontimes.vn

On February 26, in Hoa Binh province, Prime Minister Pham Minh Chinh attended the groundbreaking ceremony of the road linking Hoa Binh - Hanoi and Son La highway in the Hoa Binh - Moc Chau section. The project has a total investment of 4,120 billion VND, the route length is more than 49 km. This is a very important project for the socio-economic development, national defense, and security assurance for Hoa Binh province. In addition, this linking route will also create an axis linking the Northwest region with the Northern key economic region, forming a belt axis connecting traffic axes, helping to shorten the travel distance in the direction of Hanoi – Hoa Binh city – Kim Boi.

The real estate growth cycle will return

HCMC: Apartment prices along Metro No.1 getting more expensive

Vietnam - 28 February 2023

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Colliers Vietnam’s Real Estate Highlights is the daily news summary which features the latest updates on the Residence, Serviced Apartment, Office, Retail, and Industry Real Estate market.

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Giants compete for commercial center space

www.vnbusiness.vn

Whether in the active or passive position, the withdrawal of retailers from Bitexco Tower shows that the market for commercial space is fiercely competitive, forcing even iconic brands to change or "die".

Contrary to speculations of many people, Bitexco's representative has just clarified that the return of commercial premises at the 68-storey tower in the past time is part of the investor's reconstruction plan, there is no such thing as customers "running away".

The industrial capital aims to have 15 new IPs by 2025

www.thesaigontimes.vn

By 2025, Hai Phong will have 15 industrial parks and 23 industrial clusters meeting modern standards in the direction of synchronous, smart, and ecological, including technical and social infrastructure.

Forms of land compensation should be diverse

www.tuoitre.vn

In the draft Land Law (amended), the Ministry of Natural Resources and Environment proposed to amend and supplement the principle of compensation in the direction of diversifying forms of compensation for land. Accordingly, households and individuals whose land is recovered shall be compensated with land for the same purpose as the reclaimed land or in money, another land, or houses suitable to the needs of the land owner and land fund of each locality.

Hanoi wants to build millions of square meters of social housing

www.thanhnien.vn

Having failed in the goal of developing social housing for the period from 2015 to 2020, recently, Hanoi has set a target to build millions of sqm of social housing in the period of 2021 - 2025.

3 expectations for the real estate market

www.vnexpress.net

Amending Decree 64, focusing on social housing, and reducing interest rates are what businesses expect the Government to do to remove difficulties for the market. In addition, DSC experts also expect that by the end of this year, when the cash flow shows signs of loosening, there will be a potential for recovery for businesses.

The industrial capital aims to have 15 new IPs by 2025.

The retail space market is increasingly attractive, but competition is also fiercer.

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