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Local property developers are finding ways to survive the gloomy property market which experts say is unlikely to recover in 2012. For instance, Ho Chi Minh City-based Construction and Investment 8 Joint Stock Company (CIC8) is encouraging shareholders to share the difficulties by using last year’s dividends to buy the unsold condos and land lots. [...]
The HCMC Real Estate Association (Horea) has blasted a suggestion to impose the housing tax, saying it is inappropriate to discuss this issue in the face of the current stagnant market. Le Hoang Chau, chairman of Horea, told the Daily that his association had yet to receive any official information regarding this suggestion from the [...]
Further price cuts are inevitable if developers want to woo homebuyers back to the market, news website Vietnamnet cited industry insiders as saying. Le Chi Hieu, vice chairman of the Ho Chi Minh City Real Estate Association, said property developers have to change to survive these tough economic times. The first steps are to lower [...]
Lower interest rates will help Vietnam overcome economic difficulties in 2012, said Vu Viet Ngoan, head of the National Financial Supervisory Committee. “Interest rates need to be cut by four or five percentage points, which will allow the economy to reduce costs for production by a total of VND100 trillion (US$4.8 billion),” Ngoan told Thanh [...]
High end property prices are falling in Shanghai and Hong Kong but rising in Jakarta, Bangkok and Mumbia, the latest report on Asian real estate shows. Average capital values rose marginally by 0.2% in the fourth quarter of 2011, according to the latest Asia Pacific Residential index from Jones Lang LaSalle which tracks eight luxury [...]
The number of European Union and Chinese buyers of prime central London property declined over the course of last year while the number of purchasers from the UK and Russia grew, according to the latest report from Hamptons International. The report, which tracks the nationality of prime central London buyers, highlights the proportion of buyers [...]
Property prices in Australia’s eight capital cities decreased by 1% in the fourth quarter of 2011, according to preliminary estimates from the Australian Bureau of Statistics published today (Wednesday 01 February). It means that on an annual basis residential prices are now down by 4.8% and prices are not expected to fall much in 2012. [...]
Residential property prices in the UK fell by 0.2% in January but are 0.6% higher than a year ago, according to the latest house price index from the Nationwide Building Society published today (Wednesday 01 February). It means that the Price of a typical home is now £162,228 and prices are not expected to change [...]
The property rental market in Portugal is surging due to strong demand as the country’s sales market remains downbeat, according to the November Portuguese Housing Market Survey. Activity in the lettings market is benefiting from the continued fallout in the sales market and letting transactions are set to increase further, says the report from the [...]
Pham Nhat Vuong, head of real estate firm Vingroup, remained the richest Vietnamese this year in terms of stock assets. As of December 30, Vuong owned 168.5 million shares worth around VND16.68 trillion (US$797.1 million). Vuong held the top position for the 2nd year in a row with his total assets increasing by VND905 billion [...]