REAL ESTATE MARKET EXPECTED TO RECOVER IN Q2 NEXT YEAR
Apartment prices have stabilized, and demand has cooled. However, apartments remain the most liquid assets among real estate products, with stronger interest in Hanoi and HCMC, the Vietnam News Agency reported, citing Nguyen Quoc Anh, deputy general director of the local realty website batdongsan.com.vn.
MINISTRY WANTS 12 TYPES OF GOODS, SERVICES REMOVED FROM VAT EXEMPTION LIST
These include fertilizer, machinery and equipment specifically used for agricultural production, offshore fishing vessels, securities depository, public utility telecommunication services, and internet services under government programs.
CREDIT GROWTH REMAINS FAR FROM GOVERNMENT TARGET
Credit within the banking system to the end of May 2024 increased by only 2.41 per cent against the end of 2023, far from the credit growth targets, the Government reported. The Government has set a credit growth target of 5 per cent for the first six months of 2024 and 15 per cent for the whole year.
SOUTHEAST REGION PLANNING WITH VISION TO 2050
Under Decision No. 370/QD-TTg issued by the Prime Minister on May 4, 2024, the Southeast Region will be developed in to a civilized, modern, and dynamic area, becoming a hub not only in Vietnam but also in Southeast Asia in terms of economy, finance, education, training, science, technology, innovation, and digital transformation.
APARTMENT RENTAL PRICES ON THE RISE IN COUNTRY’S LARGEST CITY
According to a report by JLL, rental prices for apartments in the city increased by 1.6 per cent quarterly and 5.9 per cent annually in the first three months, averaging 10 USD per square metre per month, particularly in new high-quality developments.
VIETNAM’S ECONOMIC PERFORMANCE IN JANUARY-MAY
In the first five months of this year, the country saw a 2% increase in foreign direct investment, over a 9% increase in total export-import turnover, and nearly a 65% rise in the number of international visitors.
BANKS LIMITS FOREIGN ROOM, WAITING FOR STRATEGIC BUYERS
Chairman of Techcombank, one of Việt Nam's largest commercial joint stocj banks, said the bank's current foreign room is 22 per cent, allowing it to sell as much as 10 per cent to potential strategic shareholders. The bank has also been considering issuing additional shares to strategic shareholders, which typically results in a positive move in terms of stock prices.
MEETING DISCUSSES NEW REGULATIONS FOR REAL ESTATE BUSINESSES
According to the Ministry of Natural Resources and Environment (MoNRE), new provisions will allow investors to implement construction works to prevent land erosion within their projects. The land created or reclaimed by such construction works would be given to the investors' use for a fee, without the need to go through auctions.
