Week 39/2021 – Central Vietnam Real Estate News Summary
In this weekly or sometimes bi-weekly news flash – CVR: Central Vietnam Realty will provide a choice of articles from mainly Vietnamese media sources related to the real estate market in Vietnam.
We will be focusing on issues related to Da Nang and Hoi An, while also looking at national news and their possible impact on Central Vietnam’s property market.
You will find a summary, a link to the source as well as CVR’s take on the article.
We believe that local knowledge is the key to making the best possible decision and that’s what we offer to all our clients.
“CVR: Western Management – Local Knowledge”
1. What are the gain and losses when renting real estate through a broker?
Experts provide specific analysis on the role of the rental brokerage team and the factors that tenants can gain and lose when working through a brokerage. The role of leasing brokers is very important, especially in the current period when Vietnam is increasingly attracting foreign investment and developing its economy rapidly. In real estate transactions for foreigners such as apartments, villas, warehouses, logistics… almost 100% are through brokers. They are the bridge for market supply and demand to meet, helping the market develop more sustainably.
– Lessees and lessors will find it easier to find customers through a team of professional brokers. Besides helping customers find a suitable place to rent, helps to complete the procedures and lease contracts quickly and legally. Factors such as legal procedures, tax declaration documents, temporary residence, etc., especially for foreigners, are quite complicated and sophisticated. If through an intermediary that is a broker, the tenant will save time, effort, and unnecessary costs and come to an agreement more easily.
– However, because it is a 3rd party rental, most customers will work with a broker, not a landlord. This poses the risk of brokers colluding with landlords to defraud tenants. That is why finding a reputable broker is extremely important. If you encounter a broker who lacks professional ethics, customers will suffer losses.
Brokerage services are essential and help tenants and lessors stay informed about the rental situation in the place of their choice. Finding a reputable and professional broker to work with will avoid many potential risks. CVR company has been specializing in the field of real estate in the Vietnamese market for roundly 10 years with a team of reputable and professional staff that will satisfy customers, bring high benefits to tenants and owners.
Contact the CVR team for more information on current and upcoming opportunities.
2. Covid-19 opens up opportunities for investors with stable financials to “hunt” real estate property
The complicated developments of the Covid-19 epidemic caused many difficulties for the market but also opened up opportunities for financially stable real estate buyers to join the real estate hunt. In the secondary market, since the beginning of August 2021, there have been a number of stop-loss transactions because investors are under pressure from interest rates to sell at a discount to recover capital.
The application of many support programs by investors will contribute to helping many people with real living needs soon own their dream residence. These policies will also contribute to better market sentiment after a rather “dismal” period due to the prolonged effects of the pandemic and are an opportunity for buyers to put down money.
The context of the epidemic is the time when investors have the opportunity to find real estate at reasonable prices. The market is at the moment of real buyers and strong capital investors, the discount and preferential payment of many investors shows that the market has changed its policy, repositioned products, and opened up new opportunities for investors. association for buyers. Accordingly, for “shark” investors with a stable financial flow towards investment in the medium and long term, this is a rare opportunity, appearing only during a prolonged epidemic.
Talking about the type of real estate that is prioritized in the current period, the apartment segment will dominate. If there is an opportunity, buyers should boldly buy apartments and choose projects with good prices, good investors, especially good management.
In the context of the market being negatively affected by the epidemic, many experts believe that this is the right time for investors with a medium and long-term vision to collect money in real estate.
With the current market situation, finding a great realtor is key to finding the right investment opportunity. All of these points are strong signs of the growth of the real estate market in Vietnam and give a good outlook for capital appreciation for investments in the long run. Interested in investing in Vietnam? Contact the CVR team for more details on available properties today!
3. Will the cash flow return into the real estate sector in the last few months of this year?
Batdongsan.com.vn‘s market report for the third quarter of 2021 showed that the real estate market was negatively impacted by the epidemic, However, the market still has bright spots from some areas and types of real estate, especially, real estate prices continue to trend up.
The heat of the housing market in the time of the epidemic has been reduced, but after the epidemic, there is a large recovery and rebound due to the compressed demand. Currently, a large amount of money withdrawn from other fields is poured into real estate looking for investment opportunities, also creating upward pressure on prices. Despite economic difficulties due to the Covid-19 epidemic, housing demand is still high. The more people are enduring the epidemic, the more they want to own safe and private homes.
In addition, during the pandemic, capital flows from many investors who cannot be circulated into production and consumption channels, and who are not knowledgeable about securities, will tend to pour their money into real estate, the capital investment channel is always preferred, sustainable in the long term. Investor sentiment with the current real estate market is still believing in the recovery.
Why it is important: This is positive news for investors who choose real estate as a long-term investment.
Considering an investment in 2021? Whatever the requirement, we provide our clients the highest standard of service tailored to their specific needs and always stay ahead of the curve. Reach out to us today!
4. Vietnam to reduce 30% land lease price for businesses affected by the pandemic
The Prime Minister has just issued Decision No. 27/2021 / QD-TTg on the reduction of land rent in 2021 for those affected by the Covid-19 epidemic.
Accordingly, the subjects of application are organizations, companies, enterprises, households, and individuals that are directly leased land by the State under a decision or contract of a competent state agency in the form of payment for annual land rent (land tenant).
This provision applies to both cases where the tenant is not eligible for land rent exemption or reduction and the land renter is receiving a reduction in land rent according to the provisions of the law on land and other relevant laws.
The new decision stipulates a 30% reduction in land rent payable in 2021 for land tenants specified above; do not reduce the amount of land rent owed in the years before 2021 and late payment interest (if any).
The reduction of land rent specified above is calculated on the payable land rent amount of 2021 in accordance with the law. In case the land renter is receiving a reduction in land rent as prescribed, the reduction of 30% of the land rent shall be calculated on the payable land rent after the reduction has been made in accordance with the law.
Importance: The reduction in the land lease will help a lot for businesses to recover from a hard time with Covid.
At CVR we offer our clients the best in commercial real estate sales and leasing in the Central Vietnam marketplace. We have assisted a wide range of businesses, from IT companies to Industrial warehouses. Thinking about moving your current business or opening a new business in Da Nang or the surrounding area? We can help!
5. Industrial real estate aiming towards high-value industries
In the past, Vietnam often focused on attracting businesses producing low-value items such as textiles or furniture. However, with the new orientations of the Government, the market is focusing more on attracting high-value manufacturing enterprises or new types of industrial real estate.
The expert mentioned that the development of exports and the attraction of foreign investment (FDI) will help industrial parks, large transport infrastructure, seaport system and urbanization process. These factors will be a solid foundation for the real estate market in the medium term.
Besides, Vietnam is continuing to attract investors in the high value-added industrial sector; which includes hi-tech equipment manufacturing industries, research facilities, data centers, industrial cold storage. In particular, the demand for ready-built factories and warehouses is keeping at an optimistic level.
Currently, Vietnam has recorded high-quality industrial real estate projects that meet the requirements of international investors in the high-tech sector.
As a result of increasing rent due to high demand and more high-quality industrial real estate, the number of businesses in manufacturing industries with low-profit margins will gradually decrease. For instance, large leather, footwear factories with 10,000 workers will gradually move to more remote areas where costs are lower; maybe even neighboring countries like Cambodia or Myanmar. It can be seen that developers are now focusing more on attracting high-value manufacturers, for example, in the field of electronic components or cars from Europe and the US.
Why it’s important: This movement will make a great impact on Vietnam’s economy, less pollution. For example, in Da Nang, there are new IT parks which are expected to attract many high skill workers in the future and increasing accommodation and services nearby.
As always, CVR is at your service and happy to provide help anyways we can!
Contact Us today to find the real estate investment in Da Nang which is right for You!
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