Each week we post a news flash with notable articles related to the real estate market in Vietnam. We asked our team to pick the top stories from the past month and we’ve tallied the results. Check out the headlines that made big news in our office below. Have any of the articles we’ve shared impacted you? Is there any important news we’ve missed? We’d love to hear from you!
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3. Danang approves the construction of Lien Chieu port for about 2,950 billion VND
5. Da Nang authorized a plan to spend more than 1,700 billion VND on a social housing project
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NOVEMBER 2022 CENTRAL VIETNAM REAL ESTATE NEWS SUMMARY
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1. A bright spot in the real estate market: Industrial park real estate has all the factors that attract investors, especially in the Central region
Industrial park real estate is being evaluated as being as attractive as residential real estate, in which attention is focused on the Central region, where there is still a lot of development space.
The attraction of industrial real estate and great opportunities in the Central region:
While many real estate segments face difficulties, industrial park real estate has enough favorable factors for development. After the Covid-19 pandemic, all activities in Vietnam were quickly normalized, paving the way for foreign investors to return. The signing of memorandums of understanding and lease contracts began to take place and was completed a lot this year.
The first logistics center project in Quang Ngai:
Realizing the large untapped investment potential of the Central region, Singapore’s Sembcorp company decided to conduct the Sembcorp Logistics Park project at VSIP Quang Ngai industrial park, starting on December 2, 2022. .
This is the first ready-built warehouse project in the region, promising to provide modern, sustainable infrastructure, ensuring safety and operational efficiency for businesses. The project displays 3 modern single-storey warehouse blocks, with a total land area of 6 hectares and a total floor area of 35,500 m2, expected to be completed in the fourth quarter of 2023.
“Central Vietnam possesses great untapped investment potential. This is where the advantages of the East-West Economic Corridor are located, connecting important trade hubs in member countries,” said Mr. Charles. Chong, Sembcorp Development Manager in Vietnam shared.
Interested in learning about investing in Central Vietnam? With a decade of experience, we’re your number one resource for residential and commercial real estate opportunities in and around Da Nang. Contact the CVR team today
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2. Investors searching for “bargains” on multi-million dollar properties offered at loss-making prices
Towards the end of the year, when interest rate pressure increased, credit capital flow was still strictly controlled, making investors, especially those who poured money into million-dollar products, struggled even more. If in the past, million-dollar products with discounts were just a small phenomenon, at the end of the year, the downward trend is going to be stronger. An opportunity has been opened for capital market investors.
Many months ago, the million-dollar product line, which is villas, townhouses, shophouses in high-class urban areas or resort villas in strong tourism markets, began to show signs of liquidity loss. . Some projects do not generate transactions for many months in a row. From July to September, some investors in need of money offered to sell at a discount of about 5-10% compared to the market price. But this is only a small, isolated phenomenon. Since the end of September, when lending rates increased and continued to increase in October, investors faced many difficulties. The amount of loss-stopping products offered to the market increased sharply compared to before. The reduction is also high, from 5-10%, increased to 15-20%.
“One person’s difficulty is another person’s opportunity. An opportunity to hunt real estate at good prices is really opening up for capital market investors. Looking at the long-term, I think that raising interest rates, leading to the decline of the market, is necessary to adjust the market, adjust product structure as well as capital sources. Capital flows in the market need to be more substantive, aiming for sustainable values”, emphasized an investor
CVR is here to help you understand the trends of the market so you can make the best investment decisions. Our experience, highly regarded reputation and strong legal knowledge keep us at the forefront of the real estate industry. Interested in learning more about opportunities in Central Vietnam? Contact the CVR team today!
Source:https://batdongsan.com.vn/tin-thi-truong/nha-dau-tu-san-bds-trieu-do-cat-lo-sau-ar110272
3. Danang approves the construction of Lien Chieu port for about 2,950 billion VND.
Lien Chieu Port is one of three deep-water seaports of Vietnam, planned as a special port with the scale to receive general ships, bulk cargo up to 100,000 tons, and container ships with a capacity of 6,000 to 8,000 TEUs.
On November 28, the Management Board of priority infrastructure investment projects of Da Nang City has just issued a decision approving the results of contractor selection for the construction bidding package of the Port Construction Investment Project. Lien Chieu, part of shared infrastructure.
Accordingly, the winning unit is a joint venture between Phu Xuan Consulting and Construction Joint Stock Company – Lung Lo Construction Corporation – Truong Son Construction Corporation – DACINCO Construction Investment Company Limited – Joint Stock Company Xuan Quang Construction, won the bid for more than 2,945 billion VND (including 10% VAT and 11.96% provision for fees).
In the form of a contract with an adjusted unit price, the implementation time under the contract is 1380 days (including 1080 days of implementation + 300 days of completing legal procedures related to the contract).
More information about the project, the leader of the Management Board of priority infrastructure investment projects in Da Nang said that as expected, on December 14, the construction investment project of Lien Chieu Port will start. – Shared infrastructure part.
As Da Nang continues to develop into a major economic center and international destination, CVR can help you find suitable real estate that fits your specific needs whether it’s for a business or new home. Interested in learning about opportunities in Central Vietnam? Contact the CVR team today!
Source:https://cafef.vn/phe-duyet-nha-thau-xay-dung-cang-lien-chieu-gan-2950-ti-dong-20221128100401033.chn
4. The time when anyone can work as a real estate broker is over, real estate market getting more stable?
When the real estate market is hot, it is not difficult to find cases such as engineers, office workers, saleswomen, students… who quit their jobs/dropped out of school to work as brokers.
In fact, the “hot” real estate market has created unpredictable consequences, which are often recognized by insiders after each fever. Rising real estate prices have shaken the psychology of many people. They do not have a career or are from another field, they all have a “fear of missing opportunities” mentality. Wage workers from other professions also rushed into the land fever. He even quit his job, and quit school to work as a “broker”.
But as the market has been very difficult recently, those “brokers” have come back to their normal careers. According to an industry expert, in a difficult market like this, if viewed on the good side, this is a purge of both investors and real estate brokers. This is also good for the real estate market. Certainly, when there is no land fever, it means that the market will no longer see the scene of “people and people” trading land. With untrained brokers, it will leave significant consequences for real estate buyers in particular and the real estate market in general.
“The real estate market has entered the purification stage, which is a playground for investors to use “meat money”, idle money, money from stable income from other products and business activities. Real estate products must also be aimed at real needs, which can be liquidated quickly and easily.
Importance: For good liquidity, the product must have clear legal status and can be used immediately. This is also the time to purge brokers who do business snatching, making room for professional brokers, and purifying operations of the real estate market.
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5. Da Nang authorized a plan to spend more than 1,700 billion VND on a social housing project
Chairman of the City People’s Committee Le Trung Chinh approved the investment policy of the social housing project in apartment block No. 5 in zone B – Residential area South of Cam Le bridge in Decision No. 3018/QD-UBND dated 11/23/2022.
The objective of the project is to invest in the construction of social housing for sale or rent in accordance with the law on housing; commercial exploitation of synchronous utility services to meet the needs of residents in the project.
The project has a total estimated investment of 1,737 billion VND, excluding compensation and resettlement costs, land use fees, and land rents. Incentives, investment support, and applicable conditions will be implemented in accordance with regulations.
The successful investor is responsible for implementing the project according to the schedule granted in this approval of the investment policy.
Why it is important: This information provides information for investors who are interested and want to own social housing in the future.
Danang is also home to some of the most stunning luxury resorts in the country. CVR can help you find suitable real estate projects that fit your specific needs whether it’s from international chains to boutique properties. Contact CVR today!
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