Want to be in the loop?
subscribe to
our notification
Business News
HIGH-END REAL ESTATE SALES PICK UP SPEED
From the beginning of this year, Vingroup has sold hundreds of villas developed under Vinpearl Premium brand in Nha Trang, Da Nang and Phu Quoc.
Recently, more than 300 villas in the FLC Samson Beach and Golf Resort complex in Thanh Hoa Province were sold in the first sale. Last month, FLC Group launched the construction of a seven-star beach golf resort in Quy Nhon City, Binh Dinh Province.
Villas of Naman Residences and The Point projects in Da Nang City were also released for sale.
Nguyen Ngoc Thanh, deputy president of the Viet Nam Real Estate Association (VNREA), said high-end properties, especially luxury resort projects in tourist cities and provinces, were making strong recovery with a large number of successful transactions.
Ngoc said resort projects were expected to boom when the amended Law on Housing, allowing foreigners to buy houses in the country, took effect on July 1.
Experts said an increasing number of investors were pouring money into high-end projects as long-term investments, as the property market emerged as a more attractive investment channel when compared to deposits, the stock market and gold.
An expert from VNREA said that a number of investors were seeking high-end projects with promising profits, such as villas in luxury resort projects along the beach.
Buying property and then leasing it out would generate greater profits than keeping money in savings when the interest rates were about four to five per cent per year, analysts said, adding that more people were adopting this kind of investment method.
For example, Vingroup promised a lease profit of at least eight per cent per year for 10 years for Vinpearl Premium villas. IDJ Investment also pledged a 10 per cent profit in the first 10 years for investments in the A-class Chamvit Tower.
An individual investor in Ha Noi said he had recently bought a villa on Truong Sa Street in Da Nang with the expectation of making large profits from leasing the villa.
A representative from the Thanh Do Investment Development and Construction JSC., the developer of Naman Residences, was quoted by as saying that more than half of the orders for purchasing its villas came from investors in Ha Noi and HCM City.
Christopher Piro, director of Viet Nam Sotheby's International Realty, was quoted by the newspaper as saying that property investors had shifted to long-term investments for profits.
The latest report by the construction ministry said the real estate market was on the path to recovery in the first five months of this year, reflected in stable prices, high liquidity, gradually appropriate product structures and falling inventories, as well as improved confidence.
Source: VIR
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.