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Vietnam’s Top Property News – Week 20/2021

Posted by Khoi Pham on May 19, 2021

The top residential and commercial real estate news of the Week 20/2021 and property recommendations:

Information herein has been obtained from sources believed reliable, please analyze and use it at your own responsibility and independently confirm its accuracy and completeness.

NEW – Grand Marina Saigon (District 1, HCMC)

  • Developed by Masterise Homes
  • First branded residential project by JW Marriott & Marriott
  • Expected launch in May 2021
  • Refundable booking is now available

NEW – Shophouse at LUMIÈRE riverside (District 2, HCMC):

  • Developed by Masterise Homes
  • The last shophouses in Thao Dien, District 2
  • 4.8-5.6mx12m
  • 13 units in East Tower and 46 units in West Tower

NEW – Angsana Residences Ho Tram by Banyan Tree:

  • Developed by Banyan Tree and Madison Land
  • Located at a prime location at Ho Tram, only 2 hours away from HCMC
  • 2 and 3 Pool Villas from 360-384m2
  • Price per unit from 990,000 USD

The 9 Stellars (District 9, Thu Duc City):

  • 3000 apartments and 159 Villas
  • 2,300USD/m2 for apartments and 5,500USD/m2 for villas
  • Developer: SonKim Land

Meyhomes Capital Phu Quoc:

  • Developed by Tan A Dai Thanh Awarded with Labor Medal and 25 Years with Good Contributions to Vietnam Economy
  • Is the First and Limited Landed Property with Freehold Tenure on Phu Quoc City (just Upgraded to City)
  • Shophouses from 117-206m2
  • Affordable from 350,000 USD
  • Special Promotion: 8% Discount

NEW – The River Thu Thiem, Phase 2 (District 2, HCMC):

  • Phase 2 location is opposite to Phase 1
  • Refundable booking is now available

NEW – The Marq, (District 1, HCMC):

  • Developed by Hongkong Land
  • 1-4 bedroom (48-145m2)
  • Price from 9,000USD/m2
  • Expected launch Q2/2021
  • Refundable booking is now available

Maia Resort Quy Nhon:

  • Developed by VinaCapital
  • Located at an untouched beach of Quy Nhon
  • A Fusion branch, Maia, new and promoting food and culture of Quy Nhon
  • 2 Bedroom from 453-611m2
  • Price per unit from 666USD/m2

Ixora Ho Tram by Fusion:

  • Developed by VinaCapital
  • Located at Ho Tram, 2 hours away from HCMC
  • 46 beach view villas (229-486m2) and 164 beach view apartments (45-98m2)
  • Managed by Fusion Resorts
  • Price from 2,600 USD/m2

Kallias Complex City Phu Yen:

  • Developed by NDMReal
  • Located at a prime location: on coastal road at the beach city center, Tuy Hoa City, Phu Yen
  • With an AccorHotels Group brand operating right at the project
  • Shophouses from 90-100m2
  • Price per unit from 260,000 USD

Hyatt Regency Ho Tram:

  • Developed by Hyatt Hotels & Resorts
  • President Villa/Beach Front Villa/Sea View Villa/Garden Villa from 290-1000m2
  • Limited 63 units
  • Million Dollars Project
  • Beach Property

Aqua City (Dong Nai Provice):

  • Townhouses/Villas/Shophouses from 120m2-360m2
  • Decent Eco Satellite City Adjacent to HCMC
  • Affordable from 300,000 USD

Masteri Centre Point (District 9, Thu Duc City):

  • Developer: Masterise Homes
  • Total scale: 10 towers
  • Unit size: 1 – 4 bedrooms
  • Affordable from 140,000 USD

HCMC launches pilot project to tighten taxation of rental income

Apartments and villas alongside the Saigon River in HCMC. Photo by Shutterstock/demamiel62

HCMC will launch a pilot program to collect income tax from landlords who lease out apartments in a bid to tighten implementation of existing regulations.

The pilot tax collection program will be implemented at five District 11 buildings: the Res 11 apartment complex; Khai Hoan building on Lac Long Quan street; Thuan Viet commercial and residential area on Ly Thuong Kiet street; the Bao Gia building on Le Dai Hanh street; and the apartment complex on Lu Gia Street.

Landlords who rent out their apartments in the above-mentioned buildings as well as individuals and organizations that do business in the rented apartments will be subject to the taxation program.

The city’s Tax Department will work with the management boards of the five buildings to make a list of landlords who have let out apartments for rent and those who are doing business in the rented apartments.

The Hanoi Tax Department has also been asking apartment owners to declare returns and pay taxes for rented properties. Landlords who have rented out their properties to foreigners in Hanoi must register temporary residency for their tenants.

Taxation of rental incomes is not new in Vietnam, but it is a regulation that is rarely enforced or complied with.

Under regulations of the Ministry of Finance, landlords with an annual rental income of over VND100 million ($4,340) are subject to a 5 percent value-added tax and a 5 percent personal income tax.

Source: VnExpress

Steel price rise ‘unusual’ amid plentiful supply: construction ministry

Steel products seen in a factory. Photo by VnExpress/Anh Minh

Steel prices have surged by 40-50 percent this year though there is no shortage, the Ministry of Construction said, calling it “unusual.”

There is supply of 14 million tons of steel, enough to meet domestic and export demand, it said in a statement.

Prices are usually determined by demand-supply but recent price surges have not followed that principle, it added.

Steel is an important construction material that typically accounts for 10-30 percent of a project’s cost. The surge in the price of steel and other materials has cut into the profits of contractors and threatens to send them out of business.

The ministry has called on province and city authorities to prevent speculation in steel and other construction materials. They could publish monthly reference rates to help businesses plan, it added.

The Vietnam Steel Association (VSA) had said in March that prices could rise by the end of the third quarter due to a shortage of raw steel in China and India, though not in Vietnam.

The pandemic has caused deliveries to be delayed which caused prices to rise, it added.

The Ministry of Industry and Trade said it would recommend that the government should temporarily limit the exports of steel products that are in high demand in the country to stabilize prices.

Steel production in the first quarter rose 34 percent year-on-year to 7.6 million tons, while exports rose 59.5 percent to 1.6 million tons, according to the VSA.

Source: VnExpress

Experts rue false sense of security in Vietnam’s Covid-19 fight

Many Vietnamese people seem to have a false sense of security, which needs to be removed so new Covid-19 outbreaks don’t get out of hand, experts say.

They stress that people’s compliance has become the most crucial factor in the nation’s fight against the pandemic.

One reason the number of new cases in Vietnam is increasing fast is the immunity of 2020 is absent, said Dr Ali Mokdad, Chief Strategy Officer, Population Health, University of Washington.

He explained that previous exposure to the novel coronavirus had provided Vietnamese with some immunity, but it does not protect people from the new variant, the Indian one. So people are susceptible to it. Immunity for the new variant is zero percent, he stressed.

The second reason, Mokdad said, was that before the latest outbreak, citizens had a “false sense of security.” They may have thought “we haven’t seen it for a long time, so we can go out and do whatever we want, we are not going to get Covid-19.”

Most notably, the rate of mask wearing in Vietnam at some points in time seemed to be lower than last year when people seem to be “tired of the pandemic.”

The ratio of mask use in Vietnam since September 2020, according to the Institute for Health Metrics and Evaluation. Graphics by IHME

Mokdad warned that Vietnam could see a rapid rise of new cases, like that seen in India, if the government does not pay attention. He noted that in late April, Vietnam had a long holiday and many people went on vacation. Increased mobility and lower mask wearing is a recipe for disaster, he said, adding: “The situation in Vietnam is very dangerous.”

At a time Vietnam does not have enough vaccines for its population, people’s awareness and compliance is the most important thing for the country to control the new Covid-19 wave, Mokdad said.

The IHME projects that by September this year, only about 18.5 million Vietnamese citizens will be vaccinated. Therefore, vaccines are not going to provide immunity for a long time because the country does not have enough vaccines to vaccinate needed numbers, Mokdad said.

Professor Mark Jit with The London School of Hygiene & Tropical Medicine said scientists do not know enough about the Indian variant for now. It is possible that it spreads faster than most other variants, so Vietnam and other countries need to be careful while further data is being collected to understand it.

Jit agreed with other experts that Vietnam, like other countries, is caught in a dangerous situation, because there are many variants. Some of them are more transmissible, the mortality is higher and immunity programs work are less effective against them.

The Indian variant is the one people are most worried about, he said.

“Therefore, it needs to be taken very seriously.”

Source: VnExpress

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