Wednesday, June 20, 2018 4:50:31 PM - Markets open
VN-INDEX 980.95 +18.79/+1.95%
HNX-INDEX 112.11 +1.53/+1.38%
UPCOM-INDEX 52.02 +0.34/+0.66%
Hot cash flow in the real estate market in 2017
Source: Vietnamnet - 12/27/2016 1:22:10 PM
 (0 ratings. You must sign in to rate.)
A report of the State Bank’s HCMC Branch showed that 22% of overseas remittances goes to the real estate sector, 72% to production and business and the remaining to other fields.

Meanwhile, a large proportion of FDI capital in 2016 went to real estate projects, while the same thing is believed to continue in 2017.

Tran Kim Chung, deputy head of CIEM, commented that there were not major hallmarks in the financial market this year.

The VN Index of the Vietnam’s stock market at the end of 2016 exceeded the 650 threshold set since 2009. The total capitalization value of the stock market has increased from 32.4% of GDP in 2015 to 40% in 2016. The total market value of the investment portfolios held by foreign investors has increased by 20.7% by the end of 2016 compared to the end of 2015, reaching US$19.55 billion.

The interest rate has decreased and nearly bottomed out. The lending is estimated to increase by 18% in the year.

The State Bank released Circular 06 which tightened control over the credit flow to the real estate sector.

The state’s revenue from land and houses has increased by 32.6% over estimates, of which receipts from land use increased by 28% and the tax on agricultural land use rose by 38.75%.

The number of real estate businesses has increased by 99.1%, while registered capital has increased by 242.5%.

According to Chung, the real estate price in the primary market has increased by 5-7% compared to earlier this year, while the price in the secondary market has increased by 10-15%.

Transactions in the real estate market became busy in the second half of the year. He cited a report as saying that in the apartment market segment, the absorption rate is up to 80%, the highest rate in four years.

As the market has warmed up, the scale and value of projects has increased. The number of medium- and high-end real estate products is far higher than low-cost properties.

Regarding market prospects in 2017, Chung said the market fervor would be less intense because of a decrease in speculation. Banks’ lending to the real estate sector will also be decreasing.

Su Ngoc Khuong from Savills Vietnam said the housing market segment may encounter difficulties, but other segments such as office and retail premises will still see strong rises.

He noted that some real estate developers have jumped into the low-cost market segment as they realize that more young people want to be independent from their parents.
Newer News
16/05 Hà Nội to crackdown on delayed projects
09/05 Fallow projects amidst land plot fever
02/04 Banks begin tightening screws on property credit
27/03 Hanoi earns 349 million USD from land auctions
14/03 Property market expected to be stable in 2018
26/02 Vietnam’s property market expected to grow
06/02 Property market attracts 77.6 million USD in FDI in January
05/02 Market records more property sales in January
19/12 Hà Nội prepares land for developing resettlement apartments
08/12 Hanoi plans Hoa Lac as satellite town of 600,000 residents
Older News
23/12 Experts present three scenarios for property market next year
21/12 Multi-house owners won’t be taxed in 2017
21/12 Real estate bubble unlikely next year: HoREA
20/12 Experts: realty bubble on horizon
12/12 Property inventory value reduced
12/12 Top developers eye affordable housing
19/11 Third investment wave from RoK now at peak
18/11 Less cash to flow into real estate
16/11 Housing market keeps developing
13/11 Multi-house tax proposal causes stir
 
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:09:31 PM
VN-INDEX 980.95 +18.79/+1.95%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.