ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

Hiển thị các bài đăng có nhãn real estate and construction. Hiển thị tất cả bài đăng
Hiển thị các bài đăng có nhãn real estate and construction. Hiển thị tất cả bài đăng

Thứ Tư, 19 tháng 7, 2017

Why Client Should Retain Real Estate Lawyers in Vietnam?

Due to changes in law attracting foreigners to come to live, and invest in Vietnam, foreigners have growing interest in investment and acquiring real estate.  However, as real estate is valuable assets, the law on real estate ownership and real estate transactions are complicated, especially for foreigners.
Under the land ownership regime in Vietnam, land belongs to the entire people with the State acting as the owner’s representative and uniformly managing land.  Hence, in Vietnam, the land users will have the land use right without the private ownership of the land.  Land law 2013 does not allow foreigner to have land use rights in Vietnam. It only allows foreign invested enterprises to be permitted to use land through the form of land allocation or lease.

Although foreigner do not have land use rights in Vietnam, they are allowed to own houses in Vietnam under the Law on Housing. In addition, the Law on Real Estate Business has certain limitations for foreign investors to conduct real estate business in Vietnam and must meet the legal requirements.
Foreign investors investing in Vietnam wish to use the land to conduct business activities, or intend to conduct real estate business in Vietnam, or simply a foreigner wishing to purchase and own real estate in Vietnam should be aware of the legal provisions on conditions of implementation, orders and procedures to of the transactions to minimize risks.  The assistance of the lawyers on real estate in Vietnam shall be worthwhile.
Real estate lawyers in Vietnam would have in-depth knowledge of the Land Law, Law on Housing, Law on Real Estate Business and related regulations. In addition, they would have practical experience in implementing legal procedures, handling disputes, and supporting real estate transactions in Vietnam. The real estate lawyers could explain the restrictions on land use rights of foreign organizations and individuals in Vietnam and the conditions for conducting business in real estate in Vietnam.  The lawyers at request could assist the foreigners with the process and procedures to work with state agencies to obtain land use rights for enterprise and home ownership rights for individual more effectively.
When conducting transactions related to real estate such as buying, selling, transferring, renting, leasing, real estate lawyers could also provide assistance in in legal due diligence of the real estate to minimize legal risk to clients. It is important to evaluate the legal status of the property, the owner of property, whether property is in dispute, or subject to additional requirements of government before being sold by the developer and the people eligible for entering into the transaction. In addition, the lawyers in Vietnam can advise clients to draft or review the agreements, sales contract as well as the process to legalize the process to comply with the law in Vietnam.

Thứ Ba, 10 tháng 1, 2017

Major realty firms to be inspected

HANOI - The Ministry of Construction is going to inspect a dozen real estate companies, including major ones, a source told the Daily.

Through the periodical checks, inspectors of the ministry will clarify some issues concerning the operations of realty firms, such as their observance of law and policies on planning, quality management and real estate business in 2011-2016.



Reportedly, among the 12 property firms to be examined are those of significant scale such as Vingroup, Sun Group, FLC, Hoa Binh Group, Novaland, Muong Thanh Group, Tan Hoang Minh Group, Bitexco Group, Empire Group, Dai Quang Minh, Phu My Hung Corporation and Nam Thang Long (Cipurtra). Each of these enterprises will undergo a month-long inspection.
In particular, the ministry will look into projects of Muong Thanh Group in Hanoi and Khanh Hoa Province, Bitexco’s projects in HCMC, Cocobay Danang project of Empire, and Dai Quang Minh’s construction of four main roads in Thu Thiem New Urban Area in HCMC.

Such inspection is a regular activity of the Ministry of Construction. Nevertheless, this inspection plan has stoked public curiosity and attention since some real estate projects have recently stirred up public concerns. Particularly, Muong Thanh Group has just been examined, with a number of irregularities detected such as violating height limits.

Speaking at a review conference for 2016 last Friday, Deputy Minister of Construction Le Quang Hung said the Government had assigned his agency to review urban planning. The ministry has already ordered inspections into controversial projects in Hanoi this week.
Source The Saigon Times

Thứ Năm, 22 tháng 12, 2016

Experts present three scenarios for property market next year

Experts, speaking at a conference in Hanoi on Tuesday, gave three scenarios for the 2017 domestic property market, with the most likely one being that the market will move sideways. The other two scenarios are that the market will continue growing, which are the least probable, or will go down.
The conference on prospects for the real estate market next year was held by Nha Dau Tu magazine, the Vietnam Real Estate Association (VNREA) and Dau Tu newspaper in Hanoi on Tuesday.

Tran Kim Chung, vice president of the Central Institute for Economic Management (CIEM), told the conference that the property market would cool in the coming time as speculation has eased.
Chung said certain housing projects with a strong financial position remain attractive to homebuyers. However, real estate credit will drop since banks are tightening short-term capital for the property sector.
He said big-ticket projects costing VND5 trillion (US$224.2 million) or VND7 trillion or VND10 trillion each will become rare next year compared to 2016.
Chung suggested three scenarios for the 2017 real estate market.
First, it will be better than in 2016, which is desired by many. The scenario will only become a reality if the global economy grows well and does not enter a recession and Vietnam’s economic growth reaches its peak. Chung said this scenario would unlikely happen.
Second, the property market will move sideways with some segments plunging and some others edging higher. Chung said this is the most likely scenario but the market structure will change.
Third, the real estate market will cool if the world economy remains unstable and Vietnam’s economy faces unfavorable developments.
Do Thu Hang of Savills Vietnam said housing supply next year will stay high in both Hanoi and HCMC. Many more social housing projects will come on stream to meet rising demand of middle-income people and workers at industrial parks.
Of some 2.6 million workers at industrial parks, 75% are migrants, 75% are under 35 years old, and they have annual income of US$2,500 on average. They are potential customers of the social housing market, Hang said.
Chung of CIEM said the social housing segment would be the spotlight of the property market next year. However, the segment needs the Government’s supporting policies to grow.
Nguyen Manh Ha, vice chairman of VNREA, said the real estate market will remain stable in 2017 with the low-end and social housing segments performing better.
He said growth in the social housing and mid- and low-end segments will be impacted by State policies. Meanwhile, the shop-house and villa segments will continue attracting clients as many homebuyers prefer an independent house to an apartment.  
Source The Saigon Times
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ANT Lawyers is a reputable law firm in Vietnam with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

For Vietnam legal matters or services, the clients could reach ANT Lawyers, the exclusive Vietnam law firm members via email at ant@antlawyers.vn or call the telephone at +848 35202779.

Thứ Tư, 21 tháng 12, 2016

Real estate credit up strongly

HCMC – Bank loans for the property sector are estimated at some VND150 trillion (US$6.7 billion) this year, a 14.2% pickup from a year earlier, according the HCMC Real Estate Association (HoREA).
The 14.2% spike is the highest in recent years, HoREA said in a report. Meanwhile, the bad debt ratio stays at some 2.6%.
The association noted that HCMC-based realty developers also invest in other central and southern localities.   
Notably, outstanding consumer loans in HCMC are expected to reach VND202 trillion at the end of this month, making up 14.7% of total outstanding loans. Of the sum, over VND70 trillion are taken out by customers to build and repair houses, meaning the amount of credit for real estate is higher than reported. These bank loans should be monitored as borrowers may use them to invest in the property sector.
According to the State Bank of Vietnam (SBV), credit had grown 14.57% by end-November with Vietnam dong credit growth staying at 15.81%.
In HCMC alone, outstanding loans had amounted to VND1,374 trillion, or roughly US$60 billion, up 16.4% and accounting for the biggest proportion of the country’s total. The bad debt ratio had stood at 3.79% and may fall to 2.03% if bad debts of Ocean Bank, Vietnam Construction Bank and Global Petroleum Bank, the three ailing banks acquired by the SBV at zero dong, are excluded.
HoREA said capital inflows in the real estate sector in southern provinces and cities would continue rising in the coming time.
The association explained that private investors have injected money into the property sector in recent years. Besides, investment funds and foreign businesses have increased investment in Vietnam’s property sector via stake acquisitions, partnerships with local firms and lending.
Real estate has been among the three biggest absorbers of foreign direct investment over the years.
Incoming remittances to Vietnam stand at some US$10-13 billion per year. This year’s incoming remittances are estimated at US$5.7 billion in HCMC with 21% going to the housing sector.
However, HoREA warned that huge bank loans and private capital have been poured in the property sector, with a focus on big firms, and the number of investors on the secondary housing market has surged.   
Market watchers expressed concerns over an increase in property credit though HoREA said a real estate bubble will unlikely occur next year.
Source The Saigon Times
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ANT Lawyers is a reputable law firm in Vietnam with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

For Vietnam legal matters or services, the clients could reach ANT Lawyers, the exclusive Vietnam law firm members via email at ant@antlawyers.vn or call the telephone at +848 35202779.

Thứ Hai, 19 tháng 12, 2016

Construction ministry warns against resort real estate glut

HANOI – Investors should be cautious in resort real estate projects as the strong growth of resort real estate this year may lead to an oversupply in the future, the Ministry of Construction advised.

Resort real estate has developed strongly since 2015 with many projects mainly in Danang, Khanh Hoa and Phu Quoc opened for sale, said Pham Van Truong, head of the real estate market management office under the ministry’s Department of House and Real Estate Market Management at a review conference on the real estate market in 2016 and market trends in 2017 held by the Vietnam Association of Property Brokers last Friday.

Many resort projects have been licensed in the coastal provinces. Particularly, there were 46 licensed projects covering more than 3,000 hectares in Khanh Hoa Province and 75 licensed projects occupying more than 2,000 hectares in Vung Tau.

If all of these projects are completed, there will be hundreds of thousands of villas, leading to an oversupply in the market, Truong said.



Nguyen Quoc Khanh, board chairman of DTJ Investment and Distribution Joint Stock Co., said at the conference that resort properties have boomed this year. The number of projects opened for sale has increased sharply this year while last year saw only one to two projects put up for sale.

There have been only two projects opened for sale in Danang and Lao Cai in the fourth quarter this year, the lowest quarterly number in 2016, but in the third quarter, there were as many as 11 projects opened up for sale in Khanh Hoa, Danang and Quang Ninh.

This year has witnessed the recovery of the resort real estate market and a boom in the sector in three major destinations namely Danang, Nha Trang, and Phu Quoc. Some 35 projects with 12,000 apartments and 2,000 villas have been offered for sale, Khanh said.
Source The Saigon Times
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ANT Lawyers is a Vietnam law firm with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.

For Vietnam legal matters or services, the clients could reach ANT Lawyers, the exclusive Vietnam law firm members via email at ant@antlawyers.vn or call the telephone at +848 35202779.