Vietnam Real Estate News

Vietnam Housing Market News

Trade ETHUSD, Bitcoin and Cryptocurrencies

BUY & SELL ETHUSD | View ETHUSD News & Updates


Buy Sell ETHUSD, Bitcoin and Cryptocurrencies

Property buyers wait for prices to fall further   2008-11-23 - VNS

An urban area in HCM City’s District 2. Property prices in the city have declined 40 to 60 per cent from the peaks reached at the beginning of this year.

- The HCM City real- estate market could not recover this year as buyers were waiting for prices to fall further and were unable to get loans to buy property, according to some experts.

Le Hoang Chau, chairman of the HCM City Real Estate Association, said prices had fallen by an average of 40-60 per cent, although losses of up to 70 per cent were not uncommon from the peaks at the beginning of this year.

He said the market remained frozen, with hardly any deals taking place. Even potential buyers said they were hoping for prices to fall further, he added.

Liquidate

Do Thi Loan, general secretary of the association, said many people were being forced to liquidate their properties to repay bank loans.

But apartment prices were unlikely to fall any further, she said.

The State Bank of Viet Nam Governor, Nguyen Van Giau, announced this month that banks could lend for real-estate development and many domestic and foreign banks had resumed lending to actual house buyers.

But they imposed stringent conditions and the loans were still extremely hard to obtain.

The Personal Income Tax Law, set to take effect next January, is also hurting the market. It requires property sellers to pay a tax of 25 per cent of the profit or 2 per cent of the sales price.

Nguyen Manh Ha, head of the Ministry of Cons-truction’s Housing Management Department, said there was still big demand for moderately priced houses. As a result, strong price declines had occurred, mainly in the new apartment and high-end housing segments. The prices of cheap and medium-priced property have remained unchanged or fallen just a little.

Ha also recommended that developers follow market trends and focus on building smaller apartments.


Other news

Indochina, VinaCapital seek property deals in Vietnam   2008-11-21

Real estate market: who needs to be rescued?   2008-11-19

Real estate firms look to government for support   2008-11-19

Rushing to learn for real estate practice certificates   2008-11-18

Access to credit key to reviving property market   2008-11-13

Interest rate decreases won’t help real estate market   2008-11-12

Real estate prices plunging   2008-11-11

Real estate loans not a worry: SBV   2008-11-11

Foreign investors venturing to buy price-decreasing real estate   2008-11-11

Deflation a genuine threat to real-estate market   2008-11-10

Deflation a genuine threat to real-estate market   2008-11-10

Building booms as construction costs drop   2008-11-09

Figuring out the bottom of the real estate market   2008-11-06

TN, Agencies - Real estate exchanges off to brisk start   2008-11-04

Vietnam New Homes and Real Estate Development Projects


Binh Phu Condos and Townhomes

Phu Thanh Condominium Project

Hoang Anh Condos and Housing

An Lac Building

Hung Vuong Building

The Mansion Building