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CBRE Vietnam Real Estate Spotlight – W40 – 2020

Vietnam to outperform Singapore in terms of GDP growth in 2020, Deposit rates fall to record low as credit growth crawls, Affordable home shortage plagues Vietnam: government report…





  • One New Launched

    • Vinhomes Smart City (Grand Sapphire 2) – Nam Tu Liem District

      • Total units: 695 units
      • Scale: 5,190 sqm    
      • Unit size: 28.1 – 75.6 sqm (Studio and 1 – 3 bedrooms)        
      • Price*: from VND 35 million psm     

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    • Tay Ho River View – Tay Ho District

      • Total units: 224 units
      • Scale: 3,215sqm    
      • Unit size: 55.4 – 99.5 sqm (2 – 3 bedrooms)  
      • Price*: from VND 29 million psm             
    • The Summit 216 – Cau Giay District

      • Total units: 288 units                         
      • Scale: 2,373 sq
      • Unit size: 86.4– 145.4 sqm (2 – 3 bedrooms)                                 
      • Price*: from VND 49 million psm

* Prices included VAT



  • No New Launch
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    • Masteri Centre Point (District 9)  

      • Developer: Masterise Homes
      • Total scale: 10 towers                                                               
      • Unit size: 1 – 4 bedrooms

* Prices included VAT

Note: Selected newspapers include Dau Tu Bat Dong San, Thoi bao kinh te Vietnam, The gioi thong tin bat dong san, CafeF, Tuoitre, Tap chi dau tu bat dong san, Vietnamnet, Thi truong Bat dong san & Tai san, Nguoi dua tin, VnExpress

Vietnam to outperform Singapore in terms of GDP growth in 2020
VIR
Vietnam is anticipated to see positive GDP growth of $340 billion by the end of 2020 which will help the country’s GDP exceed Singapore's, becoming the fourth-largest economy in Southeast Asia. The World Economic Outlook report of the International Monetary Fund (IMF) showed that Vietnam is among the few countries in the world that has positive growth this year, about 1.6 per cent. Additionally, Vietnam’s GDP would increase by 6.7 per cent. The number is higher than last year, resulting in Vietnam’s economy going beyond Singapore ($337 billion) and Malaysia ($336 billion).
Deposit rates fall to record low as credit growth crawls
VnExpress
Commercial banks have lowered their deposit interest rates to their lowest levels in years as the Covid-19 pandemic slows credit growth. Vietnam’s four biggest state-owned banks by charter capital, BIDV, VietinBank, Vietcombank and Agribank have all lowered their annual interest rates for 12-month term deposits from 6 percent to 5.8 percent this month. Private banks like Techcombank and MB have also cut their annual rate on fixed term deposits to 5.8 percent, while VPBank lowered its rate from 6.2 percent to 5.7 percent. Nearly 20 banks in the country have lowered the rate since the beginning of this month by up 0.5 percentage points.
Affordable home shortage plagues Vietnam: government report
VnExpress
The housing market has an oversupply of mid- and high-priced units but a shortage in the affordable segment despite large demand. Demand for houses and apartments in the former category, priced at VND25 million ($1,078) per square meter onwards, only accounts for 20-30 percent while the remaining 70-80 percent of the demand is for affordable housing, according to a recent government report. The report, compiled by the Ministry of Construction for the National Assembly, said residential property prices are bloated, volatile and out of reach of most people.
Foreign capital poured into education in Vietnam
SGGP
With a surge in capital contribution and share purchase, foreign capital investment in education in Vietnam rose by nearly 58 percent to US$78.89 million  in the first nine months of this year despite the COVID-19 pandemic, reported the Ministry of Planning and Investment’s Foreign Investment Agency. Among 15 countries and territories investing in education in Vietnam, the British Virgin Islands took the lead with $23.68 million  in value, or 30 percent of the total, followed by the Republic of Korea, the US and Singapore.
Largest solar plant in Southeast Asia begins operating
VnExpress
The largest solar farm in Southeast Asia has been commissioned in Vietnam’s central province of Ninh Thuan. The 450 megawatt Trung Nam Thuan Nam Solar Power Plant, which spreads over an area of nearly 560 hectares in Thuan Nam District, went on stream on Monday evening, 102 days after construction began in mid-May.
F1 Vietnam cancelled due to COVID-19 pandemic
Vietnamnews
The F1 race in Hà Nội scheduled to take place in November has been cancelled, organisers confirmed on Friday. The original event, set to be the first F1 race to be held in Việt Nam, was due to take place in April, but it was postponed due to the COVID-19 pandemic. But now those in charge say a decision has been made to cancel this year’s race. Two months after the postponement, there were plans to host the race in November.
Binh Duong industrial parks prepare for growing FDI flows
Vietnamnews
Binh Duong Province, which is a major destination for foreign investment, has been focusing on developing industrial parks. The parks are quickly building technical infrastructure: since the start of this year businesses have invested VND146 billion (US$6.3 million) in infrastructure, 3.8 per cent more than in the same period last year. Infrastructure work is nearing completion at the upcoming Viet Nam – Singapore Industrial Park III, which will open to investors in the near future. The 1,000-hectare park, which has seen over VNĐ6.4 trillion invested in its infrastructure, is expected to be a green industrial park, and will only house factories that are modern and environment-friendly.
Vietravel Airlines cleared to take off in December
VnExpress
Leading tour company Vietravel has received the license for its airline and will operate its first flight in December. If things go to plan Vietravel Airlines would start flying on December 18 instead of 2021 as originally planned, Nguyen Quoc Ky, chairman and founder of the company, said at an aviation business forum organized by Forbes Vietnam on Thursday. The decision came as the COVID-19 pandemic forced the company to change its strategy and "wholly" focus on the domestic market, he said. Vietravel expects to get delivery of three aircraft in the first year, and five more by the fifth year. It will mainly carry people booking its tours but also some commercial passengers, Ky said.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOR MORE INFORMATION,CONTACT:

Dung Duong MRICS

Senior Director

T +84 286 284 7668

dung.duong@cbre.com

 

An Nguyen
Director

T +84 24 6288 6379

an.nguyen@cbre.com