Weekly Newsletter

A44
Vietnam Real Estate Week 3, August

The first weekly electronic newsletter issued to registered members, approximately 80,000 reads per month
joining to develop the newsletter VietRees, a member of

Market situation (p.2)

Real estate foreign invetsment (p.2)
Vietnam in the world (p.3)
Real estate agents (p.3)
Real estate projects and prices (p.5)
Real estate supply for customer groups (p.7)
Real estate legislation (p.7)
Real estate market forecast (p.8)
Construction material market last week (p.8)
Stock market last week (p.8)

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According to the statistics on registration for the newsletter, the subjects making reference to the newsletter includes real estate investors; companies or units of government performing
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full of professional investors or individuals who have demand for real estate throughout provinces and cities nationwide; typically Ho Chi Minh, Ha Noi, Da Nang, Can Tho, Hue, Nha Trang,
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 VietRees – Vietnam Real Estate
MARKET SITUATION
Which price for the real estate
market?
TheSaiGonTimes – 10 Aug, 2008
Real estate prices in HCMC
show a slight slump
Thanh Nien – 12 Aug, 2008
REAL ESTATE FOREIGN INVETSMENT
Mirax Group to construct
5-star hotel at Cam Ranh
TheSaiGonTimes – 11 Aug, 2008
Dong Thang Trade Center Project
VietRees – 13 Aug, 2008
Sovereign Hospitality Holdings
desires to invest in Vietnam
VietRees – 15 Aug, 2008
Fields attracting FDI in
the past 7 months
Source: General Statistics Office
Sponsor:
www.VietRees.com Viet Nam Real Estate Newsletter A44 Page 2
According to many experts, the factor making ups and downs in the real estate prices in the past time is
the parallel existence of two kinds of prices: the price frame which is annually fixed by the government
and transaction prices on the market. The real estate prices may have the differences of tens to
thousands times between localities or districts and suburban districts in a city. The significant difference
in prices among the areas shows that the localness/partiality of this market. It is mainly due to “street-
side” business habits of the owner and the unequal development of infrastructure between areas.
For example, the land prices in Hanoi and HCMC have been adjusted to rise by 30% as compared with
2007. However, the real transaction prices on the market is many times higher. The reality of two kinds
of prices have caused a lot of controversy between the land owners and the investors and also
unintentionally helped the investors to keep goods for many years without any matter.
The experts assert that to make the real estate market develop more professionally, many services
involved should be improved, from consulting, broking to managing, auctioning etc. Among them, the
real estate pricing should be “a step ahead” to have proper effects on the formation of standard prices
for the market.
After some successful transactions in early July, many sellers have adjusted property prices on a slight
uptrend. In the Southern region of the city, New Sai Gon apartments (Nha Be) have risen by 1 – 2
millions VND/m2, Phu My apartments ( Dist.7) have risen from 15 – 16 millions VND/m2 up to 19 – 21
millions VND/m2 depending on positions or Van Do apartments (Dist.4) have also been pushed up to 20
millions VND/m2.
Up to this time, the prices of apartments and project land in some areas have more or less increased as
compared with one or two months ago. According to experts, the first main reason is that in reality, some
projects whose prices have been on a significant downtrend in the past time witnesses successful
transactions on the market. As a result, the property owners just “imitate” and push selling prices up
higher as compared with the previous time.
The second reason is that after a tough time, fewer people can manage to raise the capital and escape
from the situation of compulsorily “selling goods” at all cost. Another reason is that selling prices offered
are low and they can hardly go down more in the near future. Although the prices have been pushed up,
there have not been many successful transactions due to the fact that the supply remains large. The
apartment and project land market is still in the contradictory situation that sellers want to push prices up
whereas buyers are waiting and expecting further price decreases. That is why the supply and the
demand have not met each other.
On August 11th, 2008, Mirax Group – Russia opened its representative office in Ha Noi and received
investment license for the project of a 5-star hotel complex on a site of 16 hectares at Cam Ranh
peninsula, Khanh Hoa Province. The project comprises 300 modern rest rooms and 100 villas with total
investment of 200 million USD.
Additionally, the Group also told that they would make plans to construct multifunction complexes in Ha
Noi, Da Nang, HCMC etc.
Dong Thang-Hong Kong One Member Co. Ltd. has been licensed to invest in the project of Dong Thang
Trade Center with total investment of 26 millions USD by Hai Phong People’s Committee.
The project is located at Duong Kinh District, Hai Phong City on a site of 12 hectares with 5 storeys,
including offices and apartment for lease, a trade center, restaurants etc. The project is scheduled to be
commenced in the fourth quarter of 2008.
Sovereign Hospitality Holdings, a hotel investment corporation (belonging to Kuwait’s M.A Kharafi
private cooperation) has had a meeting with Vietnamese partners to seek an opportunity to invest in
hotel and real estate projects at Vietnam. The Cooperation intends to invest in the development of 4-5
star hotels by self-searching projects to invest or buying back the available projects to develop in
accordance with the standards of the corporation.
In July, oil and gas has climbed up
to the first position and become one
of the fields attracting most FDI.
The fields of the hard industry and
the construction of apartments and
offices have been pushed down to
the second and the third ranks in
the list.
 VietRees – Vietnam Real Estate
VIETNAM IN THE WORLD
Vietnam drops in the world
rankings of most expensive
cities
Mercer – Edited by VietRees
REAL ESTATE AGENTS
Vincom property transaction
centre to operate
Thanh Nien – 09 Aug, 2008
Ba Ria – Vung Tau: One more
golf court project of 150 hectares
SGTT – 12 Aug, 2008
Saigon Exhibition and Fair Center
about to be opened
TheSaiGonTimes – 13 Aug, 2008
Sponsor:
www.VietRees.com Viet Nam Real Estate Newsletter A44 Page 3
Despite the significant price increase during the first months of the year 2008, Ha Noi and Ho Chi Minh
City have noticeably fallen in the list of the world’s most expensive cities which is annually surveyed by
Mercer Global Consulting firm.
The survey has been conducted at 143 cities in the world and based on the cost of living including
housing, transportation, food, clothing, household goods and entertainment. According to the survey,
Hanoi now ranks 91st on the list of the world’s most expensive cities, dropping from 35th rank in last
year and Ho Chi Minh city has dropped from the 40th rank to the 100th rank.
According to experts, these drops in the rankings are mainly due to the fact that the exchange rate of
VND against USD is more stable than other currencies. It is considered one of the important reasons to
attract foreign investment in Vietnam. In reality, FDI in Vietnam in the first 7 months of this year has gone
up by 4 times over the same period of last year, reaching 45.3 millions USD.
Vincom Joint Stock Company has completed the project of establishing Vincom Property Transaction
Centre – (VPTC) at Vincom City Towers Building, No. 191 Ba Trieu, Ha Noi.
VPTC performs the services relevant to real estate such as: trading, transferring, leasing and leasing to
purchase real estate, broking, pricing, auctioning and etc by modern means of communications. This
project is scheduled to be put into operation in late 2008.
Tan Thanh Production - Construction Investment Joint Stock Company has proposed the investment
project in the urban area – golf court – resort – tourism zone project at Hac Dich and Toc Tien
Communes, Tan Thanh Suburban District to the People’s Committee of Tan Thanh Suburban District,
Ba Ria – Vung Tau Province.
The project covers a total area of about 390 hectares, in which the golf court occupies 150 hectares. As
of now, the investor is performing the feasibility study, conducting surveys and making a detailed plan.
Saigon Exhibition and Convention Joint Venture Co. Ltd (the joint-venture between Saigontourist and
Phu My Hung Corporation.) has stated that Saigon Exhibition and Fair Center would be opened in
District 7, HCMC on October 30th, 2008. The center comprises 1 seminar room, 3 small meeting rooms,
an outdoor – indoor exhibition area, restaurant and many other services.
Additionally, the investor also intends to start works on one 5-star hotel and one 4-star hotel in 2009.
VietRees – Vietnam Real Estate
Websites of real estate companies in Vietnam
Property developers
Ho Chi Minh
Company 585 - www.585.com.vn
Company 584 - www.congty584.com.vn
An Phu - www.anphugroup.vn
BCCI - www.bcci.com.vn
Daewon - www.daewon.vn
Him Lam - www.himlam.com
Hoang Anh Gia Lai - www.hagl.com.vn
Linh Phong Conic - www.conic.com.vn
Nam Long - www.namlongvn.com
Phu Long - www.phu-long.com.vn
Phu Quoc Land - www.phuquocland.net
SacomReal - www.sacomreal.com
Sadeco - www.sadeco.com.vn
Resco - www.rescovn.com
Thai Thinh Capital - www.richlandhill.com.vn
Thu Duc House - www.thuduchouse.com
Phu My Hưng - www.phumyhung.com.vn
Van Phat Hưng - www.vanphathung.com.vn
Vietnam Land SSG - www.saigonpearl.com.vn
Ha Noi
FPT Land - www.fpt-land.com
C.E.O - www.ceoholdings.com.vn
Gia Tue - www.giatue.com.vn
HUD - www.hud.com.vn
HDB Viet Nam - www.hdbgroup.com.vn
Keangnam – www.eng.kne.co.kr
Nam Cuong – www.namcuong.com.vn
Song Hong Land - www.songhongland.com.vn
Vinaconex – www.vinaconex.com.vn
Vincom - www.vincom.com.vn
Viet Hung - www.ecopark.com.vn
Other cities
Becamex IDC - www.becamex.com.vn
Biconsi - www.biconsi.com.vn
Tuan Chau - www.tuanchau-halong.com.vn
GNSVINA - www.cozyvill.com
Company 579 - www.cecico579.com.vn
Duc Manh - www.ducmanhco.com
Sponsor:
www.VietRees.com
Brokerage
Ho Chi Minh
An Gia - www.angia.com.vn
ACBR - www.acbr.com.vn
Dat Xanh - www.datxanh.com.vn
Dia Loi - www.nhadatdialoi.com.vn
Dat Cat - www.datcat.com.vn
FICO – www.ficohome.com.vn
Kim Son - www.kimson.com.vn
Phuc Duc - www.phucduc.com
Hung Phu - www.hungphunhadat.com
Hung Thinh 2 - www.diaochungthinh.com.vn
Hoang Quan - www.hoangquan.com.vn
Intresco - www.intresco.com.vn
Loc Dien – www.nhadatld.com
Nova - www.novahomes.com.vn
Phat Hung - www.phathung.com.vn
Tan Dien - www.tandien.com.vn
Van Hung Phu - www.vanhungphu.com
Ha Noi
Cland - www.cland.com.vn
Dong Do - www.dongdobds.com
Phu Thai Group - www.phuthaigroup.com
Petrowaco - www.petrowaco.vn
Petrolimex – www.pland.com.vn
Research
CBRE - www.cbrevietnam.com
Savills Viet Nam - www.savills.com.vn
VietRees - www.VietRees.com
Consulting
CBRE - www.cbrevietnam.com
Dong Duong - www.indochina-consulting.com
Eden Real - www.edenreal.com
Indochina Land - www.indochinacapital.com
Long Gia Khang - www.longgiakhang.com
Savills Viet Nam - www.savills.com.vn
Vina Capital - www.vinacapital.com
VietRees - www.VietRees.com
Viet Nam Real Estate Newsletter A44 Page 4
Evaluation
AREV - www.arev.com.vn
Hoang Quan - www.thamdinhgia.com
Vietland - www.thamdinhgia.com.vn
VVFC - www.valuation.vn
Construction
Ho Chi Minh
CIC8 - www.cic8.com
Coteccons - www.coteccons.com.vn
Cosaco - www.cosaco.com.vn
Hoa Binh - www.hoabinhcorporation.com
Hai Thanh - www.haithanh.com.vn
Toan Thinh Phat - www.toanthinhphat.com.vn
Ha Noi
Constrexim - www.constrexim.com.vn
Cavico - www.cavicovn.com
HANCIC - www.hancic.com.vn
HUD - www.hud.com.vn
Incomex - www.incomex.vn
Architect and Interior Decoration
Ho Chi Minh
A2 Visualization - www.a2viz.com.vn
Cat Moc - www.catmoc.com.vn
Le Do - www.model&more.com
Nha Vui - www.nhavui.com
Nha Viet - www.nhavietdecor.com
Nha Dep - www.nhadep.com.vn
Pho Xinh - www.phoxinh.com.vn
Ha Noi
ACT - www.act.com.vn
ADKientruc - www.adkientruc.com
Ashui – www.ashui.com
Kien Truc Ha No - www.kientruchn.com
 VietRees – Vietnam Real Estate www.VietRees.com Viet Nam Real Estate Newsletter A44 Page 5

REAL ESTATE PROJECT AND PRICES

Developing the project of
the “gold quadrangular area”
Nguoi Lao Dong – 11 Aug, 2008
Ben Thanh Corporation and Khai Huy Quan Joint Stock company have begun to implement the
construction project of trading - service centre with the investment of over 47 millions USD at “gold
quadrangular area” at Ton That Thiep - Ton That Đam - Huynh Thuc Khang - Ho Tung Mau, Ben Nghe
Ward, District 1. Built on a site of about 1,880 m2, the project includes apartments, trading areas and
offices for lease.

Industrial - residential area The People’s Committee of Ho Chi Minh city has approved the project of the industrial - residential area
in the Southeast of Cu Chi on a site of over 338 hectares at two communes of Binh My and Hoa Phu, Cu
in the Southeast of Cu Chi Chi suburban district. In which, the residential area covers an area of 55.42 hectares and mainly serves
Thanh Nien – 12 Aug, 2008 experts, workers in the industrial zone; the resettlement area and the locals in the region of the project.

Tinh Hai resettlement area
to be constructed in Thanh
Hoa province
Tuoi Tre – 12 Aug, 2008
Thanh Hoa provincial People’s Committee has ratified the detailed plan of Tinh Hai resettlement area-
Nghi Son economic area, Tinh Hai Commune, Tinh Gia suburban district. The 32.26 hectares
resettlement area is divided into 377 terraced land plots and 468 garden-house land plots to serve the
resettlement demand of the locals at the site of Nghi Son oil refinery project and the projects at Nghi Son
econnomic zone. The total construction investment of the resettlement area is estimated to be about
195.27 billions VND.

One more high-class tourism
site licensed at Ninh Thuan
province
VietRees – 14 Aug, 2008
Ninh Thuan Provincial People’s Committee has licensed Thanh Trung infrastructure development and
construction investment Joint Stock Company to invest in Nui Chua high class ecological resort on a site
of 90.05 hectares, located at two communes of Cong Hai (Thuan Bac suburban district) and Vinh Hai
(Ninh Hai suburban district). The resort includes 160 high grade villas, restaurant, swimming pool and
other service projects with the total investment of over 379 billions VND.

Announced prominent real estate developments during the last 2 weeks*

Week 2, August 2008 Week 3, August 2008
Ho Chi Minh City Trade – Apartment building Ward 5 (Dist.8) Trading centre of Ben Nghe ward ( Dist.1)
Dong Nam Cu Chi industrial-residential area (Cu Chi)

Other Areas Villa zone My Khe (Da Nang)
Resort Nam A Lang Co (TT-Hue)
University Urban Area Co Nhue (Ha Noi)
Resettlement Area Khanh An (Ca Mau)
Cam Ranh 5-star hotel (Khanh Hoa)
Dong Thang trade centre (Hai Phong)
Tan Thanh resort and tourism site (Vung Tau)
Vinh Hai resettlement area (Thanh Hoa)
Nui Chua resort (Ninh Thuan)

Approved prominent real estate developments in HCM City*

Housing, apartment, residential area
July
Vietnam International University Town (H.Mon Dist.)
Suburb Area at Thanh My Loi Ward (Quang Trung Co, D.2)
Phu Xuan Ward - Anh Tuan Co. HA (N.Be Dist.)
Le Minh Xuan Ward HA (B.Chanh Dist.)
Phuoc Long A Ward – Phuc Long Co. HA (Dist.9)
Descon AP (Dist.2)
August
Hiep Phu Ward – Hiep Phu Gia Co. Office Building,
Truong Thanh Ward – VietNam House HA (Dist.9)
34-35 Ben Van Don Complex (Dist.4)
To be continued...

Office, commercial Complex W.11 (Minh Phu Co, Dist.3) Note:

Office Building W.13 (B.Thanh Dist.)
Office 26 Nguyen Thi Dieu (Dist.3)
Hoang Phuc Co. Commercial (Dist.6)
Horizon Place Complex (Dist.4)
Co Giang Ward – Duc Khai Co. Complex (Dist.1)
RA= Residential Area, AP= Apartment Building,
HA= Housing Area, RuA= Reurban Area,
TA= Tourism Area, IA= Investment Area,
UA= Urban Area.

Websites of properties in Vietnam

Ho Chi Minh
Blooming Park - www.bloomingpark.com
Saigon Paragon - www.saigonparagon.com
Dragon City - www.dragonland.com.vn
Preche - www.preche.com
SaigonPearl - www.saigonpearl.com.vn
V-Star - www.v-star.com.vn
Time Square - www.timessquare.com.vn
The Everrich - www.theeverrich.com
Tan Da Court - www.tandacourt.com
Lancaster - www.lancaster.com.vn
The Vista - www.thevista.com.vn
Ha Noi
Viglacera Tower - www.viglaceraland.vn
My Dinh – Me Tri RA - www.sudicosd.com
Bac An Khanh RA - www.vinaconex.com.vn
Ha Noi Plaza Hotel - www.charmvit.co.kr
Phap Van – Tu Hiep RA - www.hud.com.vn
Other cities
Furama Resort - www.furamavietnam.com
Sai Gon – Mui Ne Resort - www.saigonmuineresort.com
Sunspa ResortVietnam - www.sunsparesortvietnam.com
Other cities
Cozyvill - www.cozyvill.com
Flamingo Dai Lai - www.flamingodailai.com
Van Phu township - www.dothivanphu.com
Dam Vac Golf - www.damvacgolf.com
Sanctuary - http://sanctuary.com.vn
Ho Tram Strip - www.hotramstrip.com
Sai Gon Sunbay - www.ctc-corp.vn
Eden Lagi Resort - www.edenreal.com
Van Quan – Yen Phuc township - www.hud.com.vn
Quoc Te Do Son - www.vietlandgroup.com

Sponsor:
 VietRees – Vietnam Real Estate www.VietRees.com Viet Nam Real Estate Newsletter A44 Page 6

Property Retail Price

Updated on information from ACBR, Van Phat Hung, Hung Thinh, Phuc Duc, Tuoi Tre Newspaper and developers (VietRees gathered by direct surveys), listed prices can be
original prices or transfer prices at current or at one week prior from the date this newsletter is issued.

Typical apartments in HCM city Other apartments and land lots

Area Price (million
District
(m2) VND/m2)
+/-
Apartment building – HCMC
V - Star 7 85.5 15.5
My Phat 7 137.5 37
My Khanh 3 7 118 36.5
My Phuc 7 125 38.5
Estella, Dist.2 V- star, Dist.7 Sky Garden 3, Dist.7 Him Lam - Nam Khanh 8 91 20
* 125m2 - 2,100 USD/m2 * 98m2 – 22million VND/m2 * 68m2 - 29million VND/m2
The EverRich 11 117 30.5
* 148m2 - 1,960 USD/m2 * 85.5m2 - 15.5 million VND/m2 * 71m2 - 29.5million VND/m2
Conic Garden BC 88 15.5
Le Thanh BTA 81 8.5
DPN Tower BTH 157 22
The Manor 2 BTH 67 32
Phu My Thuan NB 89 9.5
Phu Thanh TP 60 13
RubyLand TP 78.5 16.5
Development land lots – HCMC
Blooming Park, Dist.2 Phu My, Dist.7 The Everich, Dist.11
Thanh My Loi 2 100 13
* S1-3A - 115m2 - 29.06 tr/m2 * 82.5m2 – 18.5million VND/m2 * 115m2 – 2,100-2,500 USD/m2
* S1-3B - 135 m2 - 29.55 tr/m2 * 312m2 – 18million VND/m2 * 160m2 – 2,000-2,100 USD/m2 An Phu - An Khanh 2 160 20
* S2-4B - 131m2 - 30.83 tr/m2 Phu My 7 126 21
* O2-3A - 95m2 - 30.25 tr/m2
* O1-2B - 131m2 - 30.16 tr/m2 Him Lam Kenh Te 7 200 30.5
Gia Hoa 9 120 10
Nam Long 9 240 9.5
6B - Intresco BC 100 18.5
Phu Xuan - Cotec NB 100 8
Thai Son 2 NB 140 12
Apartment building - Ha Noi
M5 DD 133 28
Preche, Dist.2 Panaroma, Dist.7 Saigon Pearl, B.Thanh Bac Linh Dam HBT 70 17
* 155m2 – 2,600 USD/m2 * 155m2 – 2,600 USD/m2 * 90m2 – 3,000 USD/m2 Thuy Khue TH 140 26
* 135m2 – 2,600-2,900 USD/m2
Resco TL 120 12.5
My Dinh 1 TL 77 19
My Dinh 2 TL 117 17.5
Vimeco TL 96 26
Vinaconex TX 117 27
Development land lots – Other provinces
My Phuoc 3 BD 150 1.5
Long Dien BR-VT 135 3
The Vista, Dist.2 BMC Hưng Long, Dist.7 The Manor, B.Thanh
Wind Hill BR-VT 180 5
* 101m2 – 1,700 USD/m2 * 79-137 m2 – 17.5 - 21million * 100m2 – 33 million VND/m2
* 152m2 – 1,700 USD/m2 VND/m2 Nam Long - Can Tho CT 114 6.5
Licogi DNI 177 3
Long Thanh DNI 100 2.5

Danang: 225 Huyen Tran Cong Chua - T: (84) 511 836 216 * HCMC: 390 Nguyen Cong Tru, D.1 - T: 8 821 7509 * Hanoi: No.6-1D Trung Yen New Town, Caugiay - T: 4 783 1598

Sponsor:
 VietRees – Vietnam Real Estate
PROPERTY SUPPLY FOR DIFFERENT TARGETS OF CUSTOMERS
Social welfare houses for workers
VietRees
Real estate for the low income
VietRees
Dwellings for overseas Vietnamese
and foreigners
VietRees
REAL ESTATE LEGISLATION
Foreigners allowed to practice real
estate broking
Vnagency, 11 Aug, 2008
“Urban planning” project
should be proclaimed
within 30 days
VietRees, 14 Aug, 2008
Sponsor:
www.VietRees.com Viet Nam Real Estate Newsletter A44 Page 7
On July 26th, HCMC Housing Development Fund was inaugurated and received Linh Trung resident
housing area for workers at Quarter 1, Linh Trung Ward, Thu Duc District, HCMC. This project is
invested by Sai Gon Construction Corporation. The housing area includes 2 apartment buildings with
233 rooms, meeting housing demand of over 1.400 employees.
Hung Vuong Joint – Stock Company (My Tho, Tien Giang Industrial Zone) has just put a 5-storey
apartment building into use. The building includes 45 apartments of over 100m2 for collective living of
400 cadres and employees. As for married people in which their wife or husband work together at this
company, they will be eligible for the 10 year installment plan at preferential prices. The company
continues to petition Tien Giang Provincial People’s Committee to grant a 5.000m2 land area to
construct more apartment buildings for workers with an investment of 100 billions VND.
Sai Gon – Gia Dinh Real Estate Company and Hoa Binh Phu Yen Company build Thoi An Apartment
Building in District 12 with 1,000 apartments.
Construction Co. No.8 (CIC8) will invest in construction of 10,000 Keppel Land apartments & Tien Phuoc
Co. will build a resettlement area including 1,900 apartments at An Phu, Binh Khanh, District 2.
HCM City housing development fund will build low - income houses in District 12.
HCM City People’s Committee will advance 50.5 billion to carry out the project of Vinh Loc B, Binh
Chanh residential area for resettlement with hundreds of townhouses and 40 apartment blocks.
Construction Co. No.5 will invest in construction of 500 apartments at Ward 22, Binh Thanh District.
HCM City Cooperative Alliance has developed its construction investment project of housing area at Le
Minh Xuan Commune, Binh Chanh Suburban District on a site of 67.49 hectares.
50% of the house reserve at The Slendor apartment area (Go Vap D.) will be intended to serve
resettlement demand in the district.
Dat Lanh Co. will offer 1,500 apartments to the market with the prices of 500-700 millions VND/unit.
People‘s Committee of HCMC has approved the project of the resettlement area on a site of 55,24
hectares at Dong Nam Cu Chi industrial - residental area in Cu Chi.
The Committee for overseas Vietnamese in HCMC has showed that there have been 130 overseas
Vietnamese buying houses, mainly in HCMC.
Those who brought houses are those who come back to the country for their long term and direct
investment, scientists, culture researchers invited to come back to the country to become experts and
repatriating overseas Vietnamese. To buy houses, beside documents verifying priority subjects, the
buyer must present their passport (issued in Vietnam). In the case that house buyers bring foreign
passports, they must have certificates of Vietnamese nationality or documents confirming their losing
Vietnamese nationality, or certificate of citizenship registration.
According to Ministry of Construction, the foreigners who have the valid certificates of practising real
estate broking or assessment issued by foreign organizations are eligible to carry on their jobs in
Vietnam.
The professional certification must be translated into Vietnamese and these Vietnamese translations
must be notarized or certified by Vietnamese law. The users must submit these documents to the local
organizations managing real estate business at the places they practise their jobs.
In the near future, Ministry of Construction will research and have specific regulations on granting
certificates of real estate broking and assessment to foreign individuals.
On August 13th, 2008, Ministry of Construction submitted the law project on urban planning to the
government, including 7 chapters with 80 articles. The Law is expected to be submitted to the National
Assembly for discussion in the November 2008 meeting session. The Law specifies responsibilities,
forms of public announcement, publicizing and providing information about planning, granting the
planning certificate and setting up a landmarks under the ratified planning.
Accordingly, within 30 days since the date of ratifying the planning project, People’s Committee at all
levels take responsibility for publicizing the projects through many forms such as frequently displaying
drawings, outlines, models, mock-up and etc of the planning project in the scope of administrative
borders that they manage.
 VietRees – Vietnam Real Estate
REAL ESTATE MARKET FORECAST
* Note: Information on market forecast is only updated every 4 periods ( after one month) by VietRees
Trend
Apartment market
Project land market
CONSTRUCTION MATERIAL MARKET
Constructing materials such as steel, Ministry of Construction has had official documents requesting the People’s Committee at provincial
cement and hollow brick at HCMC
market have cooled down in the past organizations to have foundations to estimate the supplementary construction costs in the current
week
Edited by VietRees
STOCK MARKET
VN-Index has continuously increased
in 5 sessions, HASTC has surpassed
the 150 points mark to reach 151.65
points
Edited by VietRees
Chart Source: Vietstock
Up to date 15/08/2008
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www.VietRees.com Viet Nam Real Estate Newsletter A44 Page 8
In general, transaction situation of apartments, townhouses and project land in July has been more
satisfactory than the previous months. Although the sign of a warming market is less, transactions are
coming back. Customers have many choices and a lot of time to consider when buying. Transactions
have begun to appear on the market, but not as fast as before.
At present and in the future, there may be not many investors, speculators or wholesalers like before.
According to VietRees, the number of buyers for real needs will increase. However, due to the
inabundance of real needs and finances, they will ponder on this matter. Therefore, the decision making
process will take more time than before. There is a slight increase in market prices of projects that
investors hasten the progress of infrastructure construction and apartment buildings which are about to
be completed and put into use.
Although the real estate market is still in a difficult period, some companies, individuals and investment
funds still keep investing into properties, especially foreign investors.
The apartment segment is warming again due to the large decrease in prices. Additionally, it is difficult
for the prices to keep going down while the inflation and prices of construction material are becoming
higher and higher.
In July, prices of many projects stopped sliding, even with an price increase of 10% in some projects.
Customers have not only focused on the apartments with prices of under 1 billion VND as previous
months but also learned and really paid attention to high-grade apartments for different purposes, which
has caused slight increases in prices of high class projects. In comparision with the previous month, the
quantity of customers having a look at apartments of some high-end apartment projects that are about to
be put into use in Phu My Hung has significantly increased.
Some investors are aiming at the apartment projects on the point of being handed over to customers.
These projects can be used for customers’occupancy immediately.
In general, the land price has stopped suddenly. Most sellers believe that the situation has had less
difficulties, prices have gone down too much and they cannot afford to suffer any more losses, so, they
have stopped reducing sale prices.
Additionally, the majority of projects with price increases have well-built infrastructure, customers can
receive land for housing construction and begin building at once. Many projects with substantial price
increases are located adjacent to Phu My Hung urban area.
level and authorized organizations to update the market information and monthly announce construction
material prices in accordance with the market prices to make it possible for investors, contractors and
context of unsual ups and downs in the prices of construction materials.
After many months of price increasing, construction materials such as steel, cement and hollow bricks at
HCMC market have cooled down. Some steel manufactures have reduced the selling prices of
construction steels by 2-3 millions VND/ton, a decrease of approximatly 10%. The main reason is that
steel embryo prices have fallen down significantly in the world. The retail prices of Ha Tien 1 and Holcim
cement have decreased by 1,000 VND/bag after nearly a month of being unchanged. Prices of Hollow
brick and some other kinds of construction materials have also slided slightly as compared with last
week. Only the prices of sand and construction stone of all kinds have still remained high due to the
considerable expense of fuel exploitation and transportation. Despite the significant price decreases, the
purchasing power for steel and cement has not been high. The manufacturers are trying to “pamper”
distributors and agents to “save” the purchasing power, however, the situation has not been improved
yet. Due to the weak purchase power, some producers have to offer big discounts to the distributors.
Additionally, the discounts can be more flexible with regard to the payment term.
According to the summary of the past week, VN-Index
has continuously increased in 5 trading sessions, adding
an extra of 44.66 points as compared with the August 8
th
2008 session (rising from 444.28 to 488.94 points).
th
With the August 15 2008 session of point increasing,
HASTC-Index and Hose-Index saw a week of complete
point increase. During today’s session, VN-Index has
drammatically increased by 12.44 points, HASTC-Index
also has added 5.08 more points. Trading volumes on
these two bourses have seen a significant decrease. It is
the last trading session with trading band of +/-3% at
HOSE and +/-4% at HASTC. At the trading session in the beginning of next week (August 18th), these
two bourses will apply the new trading band. At Hanoi trading center, the trend of point increasing
continues to happen. HASTC-Index has surpassed the 150 points mark and reached 151,65 points (up
3.47%). The trading volume on the whole market at this session has largely gone down. There are only 3
millions units left, equivalent to the value of 116 billions VND. The green color covers almost the
electronic transaction board when there are up to 144 ggainers, 1 losers and 1 remained unchanged.
After a week of point increases, HASTC-Index has added more 16.33 points as compared with the last
session of last week (rising from 135.32 points to 151.65 points).