The property market tends to stagnate in August, a normal thing for this time of the year as August coincides with the seventh lunar month, traditionally called the Ghost Month.
Hanoi (VNA)😼 – The property market tends to stagnate in August, a normal thing for this time of the year as August coincides with the seventh lunar month, traditionally called the Ghost Month.
The folk belief makes many people keep off making “big” business this month such as real estate sales and purchases.
Meanwhile, some people have taken advantage of this time to make deals at better prices as property sellers also want their business affairs to remain smooth during the Ghost Month, according to real estate agents.
As a result, the unsold property inventory has shrunk though the pace of reduction has slowed down.
Total unsold real estate is valued at nearly 36 trillion VND (1.6 billion USD) nationwide, down over 14.9 trillion VND (or 29.3 percent) from the end of 2015 and 1.5 trillion VND from Q2 this year.
Notably, up to 16 trillion VND of the inventory is housing land at nearly 4.4 million square metres. It is followed by low-rise houses (4,951 units worth some 9.9 trillion VND), and condominium apartments (4,883 units – nearly 6.9 trillion VND).
More than 1 million square metres of land for commercial purposes worth 3.25 trillion VND remain unsold.
Ho Chi Minh City posts the largest unsold property value in Vietnam at present, about 6.6 trillion VND – a decline of over 3.5 trillion VND (or 35 percent) from 2015 and 216 billion VND against the end of Q2.
The value of unsold real estate in Hanoi is around 5.8 trillion VND, down 923 billion VND (or nearly 14 percent) from 2015 and 64 billion VND from Q2.-VNA
The local apartment-for-sale market, which saw positive developments in the first half of this year, is expected to maintain growth till the end of 2016, experts said.
Hanoi Municipal People’s Committee has decentralised power in granting construction permits, which is expected to help it better manage and curb violations in construction.
Investment from Singapore into Vietnamese real estate is increasing with the presence of seasoned investors, according to Dau Tu (Investment) newspaper.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Condominiums under construction (Photo: VNA)
