Home   »   Property News   »   CBRE Vietnam Real Estate Spotlight – W43 – 2020
CBRE Vietnam Real Estate Spotlight – W43 – 2020

Hanoi needs $3.9 bln for social housing projects, AEON to open mall in Hai Phong in December, Requirement for refuge area might push up housing price: association…

  • No New Launch
  • Advertisement

    • Solforest – Ecopark Township – Hung Yen Province

      • Total units: 1,194 units             
      • Scale: 20,710 sqm
      • Unit size: 29 – 100 sqm (Studio, 1 – 3 bedrooms)                            
      • Price*: from VND 38 million psm  
    • Hanhomes Bluestar – Gia Lam District

      • Total units: 816 units
      • Scale: 8,221 sqm
      • Unit size: 57.1 – 75.1 sqm (2 bedrooms)  
      • Price*: from VND 22 million psm             
    • AQH Riverside – Gia Lam District

      • Total units: 378 units
      • Scale: 6,925 sqm    
      • Unit size: 55.9 – 72.9 sqm (2 – 3 bedrooms)  
      • Price*: from VND 27 million psm             

* Prices included VAT

  • No New Launch
  • Advertisement

    • 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

Hanoi needs $3.9 bln for social housing projects
Hanoi needs VND90 trillion ($3.88 billion) to develop 7.2 million square meters of social housing in the next five years amid a shortage of low-cost residential real estate. The capital city had planned to develop 6.2 million square meters of social housing in the 2016-2020 period, but only managed a little over four million square meters, or 65 percent, Chu Nguyen Thanh, CEO of the Hanoi Investment Fund for Development (HANIF), said at a recent meeting. The figure comprises 59 social housing projects and three commercial ones that have parts dedicated to social housing.
AEON to open mall in Hai Phong in December
AEON Vietnam announced the AEON – Hai Phong Le Chan General Merchandise Store and Supermarket will officially open its doors for customers of Hai Phong city on December 14. The Hai Phong Le Chan General Merchandise Store and Supermarket will be the company’s first AEON Mall department store and supermarket in Hai Phong city, bringing the company’s total to six in Vietnam, including two in Hanoi, two in HCM City and one in Binh Duong province. Speaking at a press conference on November 2, AEON Vietnam General Director Nishitohge Yasuo said the company planned to expand more specialised stores outside shopping centres to diversify products and services and bring AEON closer to customers.
Requirement for refuge area might push up housing price: association
The requirement for an area of refuge in high-rise buildings was necessary, but this might push up housing prices, according to the HCM City Real Estate Association. The Ministry of Construction recently made public a draft about national technical standards for residential and commercial buildings which had a new point that high-rise buildings must have areas of refuge where people could take shelter in case of fire or other emergencies. The area for refuge would be compulsory for buildings with height of 100m or higher, meaning that 30-50 storey buildings should have one to two floors for refuge.
Long Thanh property market expects to take off
The development of Long Thanh International Airport is expected to directly affect the real estate market in the southern province of Dong Nai and neighbouring areas. Nguyen Manh Ha, vice chairman of Viet Nam Real Estate Association (VNREA) and former Director of the Housing Management and Real Estate Market Department, told a conference held in Hanoi on Thursday that Long Thanh District would be an important gateway for trade with major intersections of established and existing roads such as HCM City – Long Thanh, Dau Giay – Da Lat, Dau Giay – Phan Thiet and Bien Hoa – Vung Tau, that helps connect the province with HCMC and other areas quickly and conveniently. In addition, Long Thanh was also preparing to develop the Bac Sơn – Long Thanh boulevard, which will be 60 metres wide with four lanes. This would be the axis of trade and service development from Bien Hoa to Long Thành International Airport.
Government reduces taxes on car parts to support domestic automotive industry
The General Department of Vietnam Customs held a seminar on tax policy for automobiles and the role of customs in promoting the automobile industry in Vietnam on November 3 in Hanoi. According to Mr. Luu Manh Tuong, Deputy Director of the General Department of Vietnam Customs, to support the domestic automobile industry to replace imported automobiles and step by step head to export, the Government has had preferential policies for automobile manufacturers that meet the conditions on production and assembly. Accordingly, automobile manufacturers will receive a zero-percent import tax on imported car parts that domestic manufacturers cannot produce.
Vietnam's M&A market possibly reaches US$7 billion by 2022
Experts predict that the M&A market in Vietnam will likely make the V-shaped recovery in the period from 2021 to 2022, reaching US$4.5 billion-US$5 billion by 2021 before rebounding stronger with a value of $7 billion by 2022. The total value of global M&A in the first six months of this year is $901.7 billion, 52 percent lower than the same period last year. Meanwhile, the published volume was 6,943 deals, down 32 percent from that in the same period. In the Vietnamese market alone, the total value of M&A deals in 2019 reached $7.2 billion, accounting for 94.7 percent of that in 2018. Due to the impacts of the Covid-19 pandemic, as well as some other factors, the value of M&A deals this year is expected to continue declining, touching an estimated of $3.5 billion, equal to 48.6 percent of that in 2019.
Pandemic cuts demand for overseas jobs
Vietnam’s labor export has plunged this year due to pandemic imposed travel restrictions and fear of contracting the virus abroad. The number of Vietnamese leaving abroad for work in the first nine months fell 59% y-o-y to just over 42,800, according to the overseas labor department. Japan and Taiwan, the largest and second largest foreign markets for Vietnamese labor, saw the number of new workers go down nearly 49 percent and over 56 percent, respectively.
Overseas remittances to HCMC reach US$4.7 billion in first ten months 
The State Bank of Vietnam (SBV) branch in Ho Chi Minh City said that overseas remittances to Ho Chi Minh City are estimated to hit US$4.7 billion in the first ten months of the year, a significant increase compared to the first nine months of the year when it reached (US$4.2 billion). It is expected that the overseas remittances to the city in 2020 would reach US$5.5 billion, an increase of 8 percent compared with the same period in 2019.




















Dung Duong MRICS

Senior Director

T +84 286 284 7668



An Nguyen

T +84 24 6288 6379