CBRE Vietnam Real Estate Spotlight – W48 – 2020

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  • Le Capitole – Dong Da District                          
    • Total units:167 units
    • Scale: 2,184 sqm                                                  
    • Unit size: 41 – 94.8 sqm (1 – 3 bedrooms)     
    • Price*: from VND45 million psm  
  • TNR The Nosta – Dong Da District                                 
    • Total units: 480 units                        
    • Scale: 3,361 sqm
    • Unit size: 31.4 – 92.1 sqm (1 – 3 bedrooms)                                 
    • Price*: from VND45 million psm
  • Le Grand Jardin – Long Bien District   
    • Total units: 1,120 units                        
    • Scale: 5,800 sqm
    • Unit size: 49.87 – 105.09 sqm (2 – 3 bedrooms)                                 
    • Price*: from VND28 million psm

* Prices included VAT

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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

HCMC sets economic growth target of 6 percent for 2021 SGGP HCMC is targeting a gross regional domestic product (GRDP) growth rate of around 6 percent in 2021. This is among the targets the 9th-tenure municipal People’s Council set for next year on December 7 as part of its 23rd session. Accordingly, the southern economic hub aims to maintain the services sector’s share in the GRDP at over 60 percent, total investment in society accounting for about 35 percent of the GRDP, and labour productivity increasing 5.7 percent annually.

Housing loans dominate Vietnam real estate credit VnExpress It is a positive sign that housing loans have dominated real estate credit, but bad debt could rise, too, experts caution. Most commercial banks have cut their interest rates for residential property loan by 1-2 percentage points since the beginning of the year to 7-11.5 percent a year as they seek to boost credit growth amid the COVID-19 pandemic.

Deposit interest rates continue to drop SGGP Although deposit interest rates are currently at low levels, since the beginning of December this year, State-owned commercial banks have continued to cut interest rates by 0.1-0.2 percentage point further for many terms compared to before. Specifically, Vietcombank reduced the interest rate for the 36-month term from 5.6 percent per annum to 5.4 percent annum; for the 24-month one from 5.9 percent per annum to 5.7 percent per annum. The interest rates of six to nine-month terms were also lowered from 4.1 percent per annum to 4 percent per annum by this bank.

NA Standing Committee approves Thu Duc City establishment SGGP The project of establishing Thu Duc City and the decree of ward and district-level administrative divisions adjustment have been officially approved by the Standing Committee of the National Assembly in its 51st session on December 9. Accordingly, Thu Duc City will be established on the basis of merging three eastern districts of Thu Duc, 2 and 9 with 34 wards, spread over more than 211 sq.km and home to more than 1 million people, has a border with districts of 1 ,4, 7, 12, and Binh Thanh District, and neighboring provinces of Dong Nai and Binh Duong. The commune and ward-level administrative units of the new city will be also adjusted.

Five new rail lines to be built in southern region    SGGP Five new high-speed rail lines between Ho Chi Minh City and southern provinces expected to be built by 2025 would help to ensure smooth transport of goods and improve logistics services and connections between major seaports. The new rail lines are included in a larger project for the city’s logistics sector until 2025 with a vision to 2030 that has been approved by the municipal People’s Committee. They will connect to the national railway system and cross-border transport routes.

Hanoi metro test run to start at weekend VnExpress Hanoi’s first metro begins a 20-day test run on December 12 for safety evaluation, the final requirement for the start of commercial operations. The Cat Linh-Ha Dong Metro Section’s 13 trains will run from 5 a.m. to 11 p.m. every day, nine during rush hours and six during other times, Vu Hong Phuong, director of the Hanoi Metropolitan Railway Management Board, said.

Amazon has over 100,000 Vietnamese sellers VnExpress Over 100,000 Vietnamese sellers have successfully debuted on Amazon, with fashion and household goods being some of their best selling products. Gijae Seong, head of Amazon Global Selling Vietnam, said amid the Covid-19 pandemic, sellers have been focusing on products with high demand such as kitchenware, sport gear and house decoration items.

Vietnam spends less than half of ODA funds VnExpress Only VND6.3 trillion ($271.7 million), or 45.5 percent of official development assistance funds has been spent so far this year. Only four out of the country’s 63 provinces and cities, Hanoi, the central province of Binh Dinh and the southern provinces of Tay Ninh and BR-VT achieve a spending rate of over 70 percent, according to the Ministry of Finance.