Real estate is one of
the sector with important position and role for the national economy, have
a direct relationship with the financial and monetary market, the construction
market, building materials market and the labor market… The sustainable
development and effective management of this sector will contribute
significantly to promoting economic-social development, creating the ability to
attract investment capital, contributing to the development, industrialization
and modernization of the country.
There
have been more favorable developments for the country’s economy in 2015 and
2015. The prices of oil continued to fall; GDP grows at stable rate around 6%.
The inflation rate was controlled at 4.09% average; reduced deposit rates,
lending rates were adjusted down to 10%. Foreign direct investment in Vietnam
reached US $ 20.23 billion, exceeding 19% compared to the target (17 billion
dollars) and expected in increase in 2016.
Mr.
Nguyen Tran Nam, Former Deputy Minister of Construction, president of the Vietnam Real Estate Association,
said the real estate market has been recovering, particularly in 2015. There
were 40,000 successful transactions, increased 75% compared to 2014 in only
Hanoi and HCM. In addition, the Vietnamese laws have changed which allow
foreigners and Vietnamese people living abroad to own real estate in Vietnam
from January 7/2015. The metro construction projects in Hanoi and HCMC, modern
road system construction suchas Nhat Tan Bridge, Long Thanh – DauGiay
highway … are also factors contributing to boost the real estate market.
Along
with these positive factors, the volatility of the financial markets due to the
impact of political issues and global movement (the gold market, securities,
forex have reduce the lending rate) has turned the property into a safe place
for investment at the moment.
In
the current favorable environment, the property becomesa channel to attract
investors who want to own property not to live but to invest in. This is an
appropriate time for investment after nearly 7 years. In a report, Mr. Marc
Townsend, Managing Director of CBRE Vietnam, saidthat ” in 2015 the real estate market will
witness the spectacular comeback of property speculators”
According
this report, if in 2014, cheap apartment was considered as the hottest segment
of the market, in 2015, the segment of medium and high-end apartments returned
to be the hottest attraction. According to data from CBRE, yielding from investing
in luxury apartments in Vietnam is quite high compared to other countries in
the region (7- 8% compared to 3% in Singapore, 4-6% Bangkok and 4% in Hong
Kong). With a minimum profit margin of 7-8% a year and the highest one at
15-20%, this segment is attracting the attention of real estate speculators.
The
project with big scale which delayed during freezing period such as Goldmark
City, Sapphire Palace, Gemek Tower in Hanoi, Vista Verde, the Park Residence,
Le Meridien, City Gate Towers, has been released to sell up.
As
reported by CBRE, in the quarter 4/2014, in HCM, it was recorded that 6670
apartments were offered, increased 117.8% from the previous quarter and 150.2%
over the same period last year. For the whole 2014, it was sated that 60% of 14
807 apartments from 37 projects were offered while this figure was 47% in Hanoi
of total 16,200 units from 31 projects.
In
terms of price, the projects inside the city and surrounding areas with
developed infrastructure continue to attract buyers and tends to keep the price
high. The average selling price luxury apartments in Hanoi and Ho Chi Minh City
are in the range of US $ 1500-1700 / m2, apartment Range US $ 1,000 / m2, the
budget – US $ 700 / m2.
The
companies with foreign investors are allowed to sublet the property which has
been leased or acquire buildings which has been built. This contributes to
dynamic of office properties in Vietnam. According to
CBRE’s report, in 2014, many office buildings have adopted methods of long-term
lease or buy off the area. In 2015, this trend will be more popular in terms of
office building.
In
the segment of real estate retail, restructuring the dynamics of retail businesses such as Parkson Hanoi Co. and the
close of Parkson shopping center in Keangnam Landmark Tower Complex (Hanoi)
showed very strong pressure this segment due to increase in supply and
competition. With more than 90 million people, Vietnam is a leading nations in
the Asia – Pacific region in terms of growth of retail market (9.3% versus 6.3%
in Hong Kong, 4.5 1.7% of Malaysia and Singapore). Thus, the segment of retail
market is still promising.
A
series of big brand to expand the retail network such as as Aeon Group (Japan)
plans to open 20 hypermarkets in Vietnam. Vinmart plans to build 9 shopping
center, 100 supermarkets and 1,000 Vinmart convenience stores in 2017. Lotte Group
(Korea) announced that it would open 60 supermarkets in Vietnam in 2020…
However,
in 2015, the new game will be very intensed. According to the CBRE, in
2015-2016, the market will welcome nearly 800.000m2 retail space from 24
projects. Therefore, retailer market will be faced a new challenges. Rising
operating costs, the development of electronic commerce and improved knowledge
of consumer in purchase decision will be the factors that led to high level of
market competition.
Also
in 2015-2016, villa projects seem to become very attractive investment in
Vietnam. In 2016, Vingroup will launch the resort in Da Nang, Nha Trang, Quy
Nhon, PhuQuoc that combines financial investment to attract investors.
Especially, at the beginning of March, the Group will launch VingroupVinpearl
Resort & Villas project in Long Beach – Nha Trang.
ANT
Consulting is here to assist you from the outset; providing corporate
intelligence, risk advisory, management consulting services
that assist market entrance, and ensure efficient business start-up
operation. Our services are as following:
We
strive to save your cost by guiding you towards economical solutions that
comply with local legislation and procedures. We support you through early
logistic solutions and carry you through as your business grows. We aim to bridge the gap
between international best practices and local cultures and assist foreign companies
and organizations entering Vietnam market to overcome commercial and regulatory
issues.
We could be reached at
email: ant@antconsult.vn or
tel: +848 3520 2779 . To learn more about us, please visit www.antconsult.vn
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