News updated:
 Verification of granting investment certificate   Cases that investment certificate is obligated   Consultancy on adjusting investment certificate   Speeding up ODA Projects   “Investors Will Have Dual Incentives”   Hanoi Attracts More Foreign Direct Investment   “Foreign Investment Promotion Needs to Be More Creative”   Consulting visas for foreigners in Vietnam   Litigations at Court Services   Litigation And Arbitration   Labor law consultancy   Tax consultant service   Internet content providers licence registration services   Barcode registration service   Regular legal consultancy   Draft contracts consultancy   Residence Certificate in Vietnam   Trademark Registration Service in Vietnam   Registration of Industrial Designs Services in Vietnam   Inventions Utility Solutions Filing in Vietnam 
Today: 6/2/2020 12:16:36 AM
Intellectual Property
work permit
Legal Utilities
Information Law
Southern hub property market still in nightmare (Updated : 28/12/2011)
Ho Chi Minh City’s sleepy apartment market sees no sign of improvements amid a difficult economy.
“Never before has the property market been as stagnant as it is this year. There were a number of homebuyers by late 2008-2009, a period which was hurt by economic turmoil but there was almost no transaction at this time of the year,” said property firm TechcomReal’s general director Nguyen Xuan Loc.

Loc added that while homebuyers were almost absent, scores of customers wanted to sell apartments under consignment at prices equal or even lower than original prices to recoup capital.

“It seems that there are no opportunities for apartment projects at this point of time. The customers are reluctant even towards attractive sales promotion policies,” said Hoang Anh Sai Gon Company’s general director Doan Chi Thanh.

Tac Dat Tac Vang Company’s general director Hoang Anh Tuan said the market problem was rooted in the big gap between the supply and demand.

“Amid squeezed credit lines, many real homebuyers could not or did not dare to take on loans with high lending rates. How can developers sell out products when there are no buyers?” said Tuan.

Tuan said it was unlikely the southern property market would see the light at the end of the tunnel next year.

Reality shows that though the land and housing price slid remarkably in the past months, the customers are waiting for further reductions.

“The customers have taken a wait-and-see approach while firms wanted to sell out products as soon as possible through rolling out diverse promotions and discounts. This could worsen market situation,” Tuan commented.

Later last week, real estate firm Anh Tuan Group offered land plots under Anh Tuan Garden land plot project in Ho Chi Minh City’s Nha Be district at price of VND6.5 million ($309) per square metre against VND8.2 million ($390) per square metre offered in the previous launch. However, the project did not grab much attention from customers.

Recently, Vietcomreal launched its Moon Garden apartment project in the city’s District 4 at prices ranging from VND24-26 million ($1,140-$1,240). The project, however, could not appeal to customers despite having a ‘good location’.

According to Vietnam Housing Joint Stock Company chairman Tran Van Thanh, a number of property firms were brought to court as they had violated contract terms signed with the customers. In anther case, some firms had to take on quick loans with high interest rates to pay up staff salaries and cover operation expenses.

“These disorders are just the start unless market rescue policies are introduced in a timely manner,” said Thanh.

 Viewed : 2541 Print this page Go back
For more detail please contact us:
Address : Room 442, Building VP5 Linh Dam, Nguyen Duy Trinh Street, Hoang Mai District, Ha Noi
Phone : 02422.081.171
Hotline : 093.675.0123
Utilities system
: -
Email : or  Yahoo: Gửi tin nhắn tới luattructuyen luattructuyen or Gửi tin nhắn tới lawyer_doantienichphaply

Please complete the following form to send consultant request to
Full name *
Address *
Telephone *
Request *
Change image

View more related articles:
Enhancing Foreign Investment Efficiency
Speeding up ODA Projects
Bringing Life to Consumer Protection Law
Conflict resolution
“Foreign Investment Promotion Needs to Be More Creative”
Hanoi Attracts More Foreign Direct Investment
“Investors Will Have Dual Incentives”
Speeding up ODA Projects
Cases that investment certificate is obligated
Online support

Investment consultant

Work Permit

Enterprise Consultant

Intellectual property
Inventions Utility Solutions Filing in Vietnam
Updated : 05/01/2012
Registration of Industrial Designs Services in Vietnam
Updated : 05/01/2012
Litigations at Court Services
Updated : 06/01/2012
Tax consultant service
Updated : 06/01/2012
Barcode registration service
Updated : 06/01/2012
Consulting visas for foreigners in Vietnam
Updated : 08/01/2012
Trademark Registration Service in Vietnam
Updated : 05/01/2012
Internet content providers licence registration services
Updated : 06/01/2012
Geographical Indications Filing Requirements in Vietnam
Updated : 05/01/2012
Labor law consultancy
Updated : 06/01/2012
Document search
Latest documents
Decree no. 108-2006-nd-cp providing guidelines ...
Law on Investment passed by ...
Articles : 36
Law documents : 2

Set as hompage

Address : Room 442, Building VP5 Linh Dam, Nguyen Duy Trinh Street, Hoang Mai District, Ha Noi
Phone : 02422.081.171 – 0974.278.172
Hotline : 093.675.0123 – 091.860.1238
Utilities system
: -
Email : or  ; Support online: Gửi tin nhắn tới luattructuyen luattructuyen or Gửi tin nhắn tới lawyer_doanlawyer_doan

Legal Utilities - Network Legal Advice Online Community
Copyright by Tu Van Viet Group - Write "" when using the information from this website

Thiet ke web luat