CBRE Vietnam Real Estate Spotlight – W2

Vietnam GDP to grow by 8 per cent: Oxford Economics, Central bank targets credit growth of 12 percent in 2021, HCMC prioritises developing four key industrial sectors, …

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- Vinhomes Ocean Park – Ruby – Gia Lam District
  - Scale: 420 ha
  - Unit size: 30 – 108 sqm (studio, 1-3 bedrooms)
  - Price*: from VND 39 million psm
- Grandeur Palace Giang Vo – Ba Dinh District
  - Total units: 72 units
  - Scale: 9,024.8 sqm
  - Unit size: 77.6 – 153.8 sm (2 – 3 bedrooms)
  - Price*: from VND 80 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 VND 45 million psm

* Prices included VAT

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- Dream Home Riverside (District 8)
  - Developer: Ly Khuong
  - Total units: 2,000 units
  - Units size: 55.6 – 75.12 sqm
- Masteri Centre Point (District 9)
  - Developer: Masterise Homes
  - Total scale: 10 towers
  - Unit size: 1 – 4 bedrooms
- King Crown Infinity (Thu Duc District)
  - Developer: Gia Khang
  - Total units: 2,000 units
  - Unit size: 53.8 – 102.8 sqm

* 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 GDP to grow by 8 per cent: Oxford Economics
Vietnamnews

		Southeast Asia’s economic growth will rebound to 6.2 per cent in 2021 with Vietnam achieving 8 per cent growth, according to the latest economic outlook report from Oxford Economics commissioned by chartered accountancy body ICAEW. GDP across the region contract by 4.1 per cent in 2020, with countries that had been successful in controlling the pandemic like Vietnam and Singapore leading the recovery. Indeed, Vietnam was expected to be the only economy to record positive growth in 2020. The rebound was in part due to the low-base effect of 2020, but policies were set to remain very accommodative with extensive fiscal support and low interest rates.

Central bank targets credit growth of 12 percent in 2021
Nhandan

		The State Bank of Vietnam (SBV) targets a credit growth rate of 12 percent in 2021, equivalent to the growth of 12.13 percent last year, according to SBV Deputy Governor Dao Minh Tu. However, the goal is not a fixed figure, as the central bank may adjust it if necessary, Tu said at a press conference in HCMC on January 7. He said that in case the COVID-19 pandemic is totally controlled, and the economy needs fast recovery, leading to an increased credit demand, the SBV will expand credit to support businesses and economic recovery.

Phu Quoc island city draws US$16.5 billion in investment
Vietnamplus

		Phu Quoc, Vietnam’s first island city, has attracted 372 projects to date with capital totaling some US$16.5 billion. Tourism, service, and urban areas are the most attractive sectors, according to the city’s authorities, adding that investments in these fields helped Phu Quoc become a second-tier city. Major economic corporations such as Vingroup, Sungroup, BIMgroup, CEOgroup, MIKgroup, and Milltol have made significant contributions to the island’s economic growth over recent years.

HCMC prioritises developing four key industrial sectors
Vietnamplus

		HCMC sets a target of 5 percent industrial growth in 2021 and its four key sectors expanding by at least 6.7 percent, according to its Department of Industry and Trade. The four are food processing, pharmaceutical chemicals-rubber-plastic, mechanical engineering, and electronics. The city also targets 10 percent growth in retail sales of goods and services and exports to VND905.563 trillion (US$39 billion) and US$49.2 billion.

HCMC prioritizes developing social houses, cheap houses for low-income earners
SGGP

		For the 2021-2030, HCMC will prioritize the building of more social houses and cheap houses for low-income workers, said the Department of Construction at a meeting organized yesterday to review the last year mission and implementation of the next year. Reporting at the meeting, a representative of the Department of Construction said that some remaining problems must be undertaken in the upcoming time. One of them is the regulation of compensation and resettlement support for people living in dilapidated apartment buildings. The decision for compensation and support for these people has not been issued so far meanwhile district administrations have asked people to move out of apartment buildings to rebuild them. Total 539 households have been moving out of 15 condominiums in poor state of repair.

Tax, transparency important to bring housing prices to appropriate levels
Vietnamnews

		Imposing asset taxes and improving market transparency would help bring skyrocketing housing prices in Vietnam to appropriate levels, experts have said. The market has not had a balance between supply and demand for many years, according to Nguyen Manh Ha, Deputy President of the Vietnam Real Estate Association. There was also a severe shortage of housing supply in major cities nationwide. Ha pointed out that affordable homes at prices of below VND25 million (US$1,120) per sq.m had nearly disappeared from the market in HCMC while in Hanoi, this segment accounted for just about 10 per cent. Thus, housing prices were becoming unaffordable for a majority of citizens, he said.

Vietnam determined to fulfil socio-economic development goals in 2021
Nhandan

		The positive achievements in socio-economic development in 2020 amid the prevalence of COVID-19 have offered Vietnam a further premise for the successful realisation of its socio-economic development targets this year. Despite facing unprecedented difficulties and challenges due to the COVID-19 pandemic, along with the negative impacts of climate change, last year Vietnam still maintained positive economic growth in the context of a severe global economic recession and overall negative global growth of 4%. Moreover, the country still realised quite comprehensively the goals set out not only for 2020 but also for the 2016-2020 period with many new outstanding efforts.

Samsung urged to back Hanoi in smart city development
Vietnamplus

		Chairman of the Hanoi People’s Committee Chu Ngoc Anh suggested Samsung provide the city with technical support in developing smart city and smart transport and promoting digital transformation. He made the suggestion during a January 14 meeting with the General Director of Samsung Vietnam, Choi Joo Ho, who paid a courtesy call to report on the Republic of Korea (RoK) company’s projects in Hanoi. Choi said that work on Samsung’s Research & Development (R&D) Centre in Hanoi started last March and is on schedule, with 23 percent completed. Once opened, the centre will employ about 3,000 tech engineers primarily responsible for developing software, the 5G network, artificial intelligence (AI), and Big Data, he said, adding that this will contribute to economic growth in Hanoi and Vietnam at large.

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

CBRE Vietnam Real Estate Spotlight – W2 – 2021

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