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Posts Tagged ‘cool’

Cool real estate market replaces foreign distributors with local ones

In Uncategorized on January 8, 2011 at 4:06 am

High-end real estate segment used to be dominated by foreign-owned firms such as CBRE Vietnam, Savills Vietnam, Coliers, Cushman Wakefield or Knight Frank, who have the upper-hand in design consultancy, management, marketing and sales.

(Photo: Minh Tri)

But those days are gone.


With the market cooling off and investors turning their back to high-end properties, foreign real estate firms over the past year no longer had a good time.


Savills, Knight Frank and CBRE for the past year had to give the chance to distribute the Indochina Plaza Hanoi project to Hanoi-based DTJ Group.


The priority to distribute the project was once associated with Savills Vietnam. Then its competitors such as Knight Frank and CBRE, the famous real estate service provider stepped in. But all have been replaced by DTJ.


Other big projects in Hanoi such as Mulberry Lane or Cana Park have also replaced foreign distributors with local ones.


Vincom Group has also broken up with its long-year foreign partners. The corporation is selling its projects itself, such as it did with the Royal City project recently.


Several developers of high-end real estate projects in Hanoi said they are willing to invite local distributors instead of foreign-labeled ones.


For a long time, hiring a foreign distributor was the optimum choice as the foreign firms made good business and they gave the project a better name.


But according to experts in the field, difficulties of the market have made the matter of fame no longer important.


Meanwhile, foreign distributors asked for higher payment and have failed to renew their sales and marketing measures to fit in the cooling market. They have failed to sell the project on time or make the profit promised to the developers.


These foreign firms have lost a lot of spotlight. Their reports have been more biased and less accurate. Some were even contradictory to each other.


So they were replaced or supplemented with local firms, which have made big improvements over the past time with proven successes in sales, management and marketing.


It showed good signs for Vietnam’s real estate market, insiders said.

Source: SGGP

Rains cool off scorching northern and central regions

In Uncategorized on May 11, 2010 at 12:49 pm

A cold front from the north overwhelmed Vietnam’s northern region, which was at the peak of a severe heat wave which began on May 6, causing whirlwinds and heavy rains last Monday morning.

Strong winds blew the roof off this home in the Lao Cai Province, May 10 (Photo: SGGP)

The National Hydro Meteorological Forecast Center said that the heavy rains flooded streets in Hanoi and Hai Phong cities as well as areas of the Nam Dinh Province.


In the Lao Cai Province, the heavy rains and strong winds, 89-117 kilometers an hour, ruined 1,300 houses and schools.  It is estimated that the province suffered a total loss of VND5 billion (US$263,000) with Lao Cai town and Bat Xat District suffering the worst damage.


In Cao Bang Province, the torrential winds damaged hundreds of houses, in many cases, blowing off entire rooftops.


However, the rains also supplied a considerable amount of water for reservoirs of Hoa Binh, Thac Ba and Tuyen Quang hydropower plants.


The central region, after a week suffering severe hot and arid weather, provinces from Quang Binh to Quang Ngai received welcomed showers on Monday afternoon.


In Quang Binh Province, a three-hour shower reduced the temperatures from 40 Celsius degrees to 35 degrees.


Local residents were very happy as the rains watered crops which had dried up in Bo River’s low section area.


In addition, the rains softened the salt penetration on the region’s large rivers and provided irrigation water for cultivation of 50,000 hectares of summer-autumn rice crops.


Meanwhile, in Quang Nam Province experienced tumultuous winds that severely damaged property within the mountainous district of Nong Son.


Le Duc Thinh, deputy chairman of Que Lam Commune said that the whirlwinds left hundreds of houses and schools without roofs.


Only over the past 20 days, three tornados and whirlwinds have swept through Nong Son District, causing a total loss of VND10 billion (US$526,000).


The national weather bureau said that by May 11, the rains would reduce in the north.


Meanwhile, the cold front is expected move southward into the Central and Central Highlands areas, which might bring heavy rainfall to those regions.


In HCMC, the scorching heat continued through May 10, causing many children to suffer from heat-related illnesses.

Source: SGGP

Improvement in Thailand-Cambodia relations blows cool breeze to ASEAN

In Uncategorized on April 7, 2010 at 11:49 am

“Cambodia will not allow former Prime Minister Thaksin Shinawatra to use Cambodia as a political base to attack Thailand,” Cambodian Prime Minister Hun Sen declared during a meeting with Deputy Prime Minister of Thailand Suthep Thaugsuban on April 4 in Hua Hin, Thailand.

From left to right: Cabodian PM Hun Sen, Lao PM Buasone Bouphavanh , Thailand PM Abhisit Vejjajiva and Vietnamese PM Nguyen Tan Dung in the Hua Hin conference on Mekong River on April 5, 2010.

PM Hun Sen said during the Mekong River Commission (MRC) Summit, held for the first time in Hua Hin, that the Cambodian constitution prohibits such political activity. He added that Mr. Thaksin would not be allowed to enter Cambodia in the midst of Thailand’s political unrest.  


Since a dispute over ownership of the historic Preah Vihear temple broke out in 2008, relations between Cambodia and Thailand have been strained.


Cambodia’s recent comments on the contentious issue of Mr. Thaksin, however, have led the public to believe that icy relations between the two Southeast Asian neighbors may be beginning to thaw.


Responding to the statement of his Cambodian counterpart, Thai Prime Minister Abhisit Vejjajiva considered Mr. Hun Sen’s comments a positive signal towards the normalization of relations between Thailand and Cambodia.


PM Abhisit made the statement at a press conference April 5 after the closing of the MRC Summit.
 
“The Ministry of Foreign Affairs of Thailand will consider re-deploying the ambassadorial ranks in Cambodia step-by-step,” said Prime Minister Abhisit.


Cambodia-Thailand relations soured gradually when Prime Minister Hun Sen appointed Mr. Thaksin as an economic advisor in October 2009 and rejected a request to extradite him to the Thai government.  


The already-strained relations between the two countries were exacerbated by Cambodia’s appointment of Mr. Thaksin as an economic advisor and Thailand responded by re-calling the Thai Ambassador to Cambodia.


Cambodia retaliated likewise and refused aid from Thailand for a project to revamp the road linking Poipet to Siem Reap.


Most recently, just hours before Prime Minister Hun Sen traveled to Hua Hin to attend the MRC Summit, a group from the People’s Alliance for Democracy (PAD) staged a protest at the conference opposing Mr. Hun Sen.


The surprising statement by Mr. Hun Sen is being hailed by many as a breath of fresh air, dispelling Cambodia’s tense political relationship with Thailand.


Regarding the appointment of Mr. Thaksin as Cambodia’s economic adviser, PM Hun Sen asserted once again that Cambodia needs a consultant for economic development, but that the country clearly distinguishes personal relationships from national interest and will not let the “Thaksin issue” affect relations between Cambodia and Thailand.


In three day’s time, the 16th ASEAN Summit will take place in Hanoi. The renewed positive Thai-Cambodian relations are seen as a good sign ahead of the major ASEAN event.

Source: SGGP

Improvement in Thailand-Cambodia relations blows cool breeze to ASEAN

In Uncategorized on April 7, 2010 at 11:41 am

“Cambodia will not allow former Prime Minister Thaksin Shinawatra to use Cambodia as a political base to attack Thailand,” Cambodian Prime Minister Hun Sen declared during a meeting with Deputy Prime Minister of Thailand Suthep Thaugsuban on April 4 in Hua Hin, Thailand.

From left to right: Cabodian PM Hun Sen, Lao PM Buasone Bouphavanh , Thailand PM Abhisit Vejjajiva and Vietnamese PM Nguyen Tan Dung in the Hua Hin conference on Mekong River on April 5, 2010.

PM Hun Sen said during the Mekong River Commission (MRC) Summit, held for the first time in Hua Hin, that the Cambodian constitution prohibits such political activity. He added that Mr. Thaksin would not be allowed to enter Cambodia in the midst of Thailand’s political unrest.  


Since a dispute over ownership of the historic Preah Vihear temple broke out in 2008, relations between Cambodia and Thailand have been strained.


Cambodia’s recent comments on the contentious issue of Mr. Thaksin, however, have led the public to believe that icy relations between the two Southeast Asian neighbors may be beginning to thaw.


Responding to the statement of his Cambodian counterpart, Thai Prime Minister Abhisit Vejjajiva considered Mr. Hun Sen’s comments a positive signal towards the normalization of relations between Thailand and Cambodia.


PM Abhisit made the statement at a press conference April 5 after the closing of the MRC Summit.
 
“The Ministry of Foreign Affairs of Thailand will consider re-deploying the ambassadorial ranks in Cambodia step-by-step,” said Prime Minister Abhisit.


Cambodia-Thailand relations soured gradually when Prime Minister Hun Sen appointed Mr. Thaksin as an economic advisor in October 2009 and rejected a request to extradite him to the Thai government.  


The already-strained relations between the two countries were exacerbated by Cambodia’s appointment of Mr. Thaksin as an economic advisor and Thailand responded by re-calling the Thai Ambassador to Cambodia.


Cambodia retaliated likewise and refused aid from Thailand for a project to revamp the road linking Poipet to Siem Reap.


Most recently, just hours before Prime Minister Hun Sen traveled to Hua Hin to attend the MRC Summit, a group from the People’s Alliance for Democracy (PAD) staged a protest at the conference opposing Mr. Hun Sen.


The surprising statement by Mr. Hun Sen is being hailed by many as a breath of fresh air, dispelling Cambodia’s tense political relationship with Thailand.


Regarding the appointment of Mr. Thaksin as Cambodia’s economic adviser, PM Hun Sen asserted once again that Cambodia needs a consultant for economic development, but that the country clearly distinguishes personal relationships from national interest and will not let the “Thaksin issue” affect relations between Cambodia and Thailand.


In three day’s time, the 16th ASEAN Summit will take place in Hanoi. The renewed positive Thai-Cambodian relations are seen as a good sign ahead of the major ASEAN event.

Source: SGGP

Property market prices cool

In Uncategorized on October 13, 2008 at 12:10 pm






HCM City’s Phu My Hung urban area. Property prices have fallen by 40-60 per cent since the Lunar New Year. — VNA/VNS Photo Van Khanh

HCM CITY — Builders are trying to attract prospective house buyers to take advantage of the recent drop in prices in the real estate market.


According to market research experts, property prices have fallen by 40-60 per cent compared with the days following Tet (Lunar New Year), when HCM City’s property market was on the rise. In the past few months, prices have been at a standstill.


Small-time speculators, or short-term investors, who snapped up property when the real estate market was doing well, are now selling out to repay debts and fleeing the sector as banks have tightened property loans.


Before the drop in prices, customers had to buy apartments via brokers and suffer a difference of hundreds of millions of dong per house in commission.


This is a good time to buy for those who want to own a house as the market is dropping to its “bottom,” according to Do Tien Duong, a property investor.


“Also, the stock, gold and dollar markets have been unstable, which can drive people to invest in real estate for savings,” Duong said.


Developers are attracting individual customers by offering apartments for sale at low prices to carry them through the current crunch, when few property brokers are willing to invest.


Last month, for example, Phu Long Property Joint Stock Co. signed 100 customers to its Phu Hoang Anh Apartment project in Nha Be Commune at US$1,900 per sq.m during the first week of September.


Phu My Hung Joint Venture Co. is currently offering VND27 million ($1,700) per sq.m on its Sky Garden Apartments project. Apartments in Sacomreal Co.’s Phu Loi I project, District 8, are being sold at VND12.6 million ($788) per sq.m as well.


Due to recent government policies that have shut off credit to the real estate market, builders are trying to better the market and sell their apartments, according to Le Hoang Chau, chairman of the HCM City Real Estate Association.


True prices are returning, according to local property experts, who refer to the relationship between market prices and property value.


Real-estate transactions had not increased significantly, averaging only one to two transactions per week in the past three months, but it was a sign that the market was recovering after a long period hibernation, Duong said. —