[ Home ]
[ Site Map ]
Army Vet - Veteran News & Benefits for Army Vets
Vietnam Property Market Needs Flexibility
(PRWEB) February 12, 2008 -- Property prices in Vietnam increased by 50% on average in 2007, largely fuelled by investors shunning the stock markets in favour of the more gainful property investment sectors.
In 2007, Vietnamese expatriates purchased property en-mass creating an exponential hike in housing and land prices, prompting the Vietnamese government to draft new laws in a bid to curb soaring prices.
The estimated capital injection into the Vietnamese property investment (http://www.obeliskinternational.com/Vietnam_Property_Market_Needs_Flexibility.html) market for 2007 is US$5 billion, the majority of which is from foreign direct investment (FDI).85% of total FDI was pumped into the Ho Chi Minh City (HCMC) property development; many districts in HCMC saw land prices increase by 70% to 200%.
At present only transfer taxes are payable on the sale of a property. However, as most sales are paid in cash, the government has experienced difficulties gauging exact volumes and collecting capital gains tax.
Property prices in Hanoi and HCMC have tripled in the past year alone - especially in the luxury sector. In 2006, new apartments were sold for US$80,000 but by the summer of 2007, this rose to a massive US$240,000 in Hanoi. Foreign investors can buy into 'pure investment' property, such as hotels and resorts, for rental and leasing contracts by investing in construction and development of the projects - none of which can be for their own personal use.
A foreign citizen can own property outright as long as they are a registered Vietnam resident. However, if the Vietnamese residency is relinquished the dwelling will automatically become state property, unless it is sold, donated, or bequeathed etc. within 90 days of departure.
Although market indicators are very good in Vietnam (albeit a guesstimate), I personally believe there needs to be stronger assurances and fewer restrictions put in place for foreign property investors. As part of the rigorous market analysis we carry out at Obelisk, we will continue to monitor the market for changes that will enable a safer environment for property investors to enter.
In our recent market analysis, over 30% of our client-base favours the more accessible, transparent Eastern European markets, with many dismissing the notion of the new Asian markets. Not one of our clients expressed interest in purchasing property in Vietnam, regardless of a 20% to 30% growth rate forecast for 2008.
If foreign property investors are given full and complete ownership rights to property in Vietnam, the market will become much more flexible and therefore, much more desirable.
About James Gonzalez
James has a vast market knowledge and background within the world of property. Prior to joining Obelisk as Market Analyst, James worked for CB Richard Ellis (Hong Kong), Healey & Baker and Hamptons. James' key role at Obelisk is to research, analyse, and identify viable and profitable emerging markets for property investors to enter.
About Obelisk
Our extensive research and analysis, whether it is through an Obelisk own development or via a developer partner, determines exactly where to build, what to build and when to build, from concept through to completion, making Obelisk unique within the property investment (http://www.obeliskinternational.com/Vietnam_Property_Market_Needs_Flexibility.html) market.
Obelisk's market leading, robust selection process ensures only the best financially secure property investments, safeguarding the future of our investor clients.
All projects undertake compulsory due diligence making Obelisk the only overseas property investment company who provides clients with complete peace of mind.
For more information on overseas investment (http://www.obeliskinternational.com/), and to find out about Obelisk's latest projects, contact Obelisk free on: 0808 160 0670 (UK) or 1800 932 514 (IRE) or visit http://www.obeliskinternational.com/.
MORE ARTICLES:
The New Art of War, Tactics, and Power
To rise and flourish in the world, you need to act according to how things really are, and you need to be a good strategist and manager. Most of the tactical information in the world lacks much practical value.
World War Two Veterans Encouraged to Create Free Online Autobiographies, Families Invited to Help
Veterans empowered to share their stories and help create a national record of first hand experiences from World War II.
Nike Air Force 1's
1THOLOGY!
Past Air Force Academy Teacher & Portland Oregon ROTC Commander Jim Boyle will talk at the Oregon 8th Air Force Historical Society Quarterly Meeting o
WW II pilot Jim Boyle, who had learned to fly B-25s by May of 1945 and subsequentially went onto a career in the Air Force flying fighters, bombers and transports. He spent two years teaching at the Air Force Academy in Colorado in the early 1960s before going on a tour in Vietnam flying C123s. Jim will be the guest speaker at the November 3, 2007 meeting of the Eighth Air Force Historical Society of Oregon quarterly meeting.
On a Wing and a Prayer Soldiers' Angels Helps Support Our Troops and their Families With Emergency Airplane Flights
A wounded American soldier lies in a bed in a military hospital in Lundstahl, Germany. He is post-op, in intensive care, and holding on to his life. He is literally across an ocean and thousands of miles from home. The military rushes his mother and father to his side. His grandmother wants to see her grandson and support her daughter but the family does not have the money for the last minute airfare.
War of Worlds: Printers and Email Marketers Waive Competition to Leverage Business
Despite prevailing differences in opinion, global printing press corporation is a leading sponsor in a marketing bootcamp that will set the record straight on whether email marketing or direct mail marketing predominate.
The Computer Virus: The Ongoing War
When you buy a new computer, your sales agent would strongly advise you to install a good and effective antivirus program especially if you plan to connect to the Internet The virus is a common word for those versed in computer lingo, but to those who are just entering the world of computers, such an advice would result to confusion and is sometimes unfortunately neglected
Home | Site Map | Website Resources | Exchange Links | Link Partners | Advertise | NAVYVET.ORG
