Hanoi: Hoai Duc goes to the district by 2020, mobilizing capital from land

Hanoi: Hoai Duc goes to the district by 2020, mobilizing capital from land

Hanoi City requests departments and branches to coordinate with Hoai Duc district to propose mechanisms and policies to mobilize local investment capital from land potential in the area through bidding and auction according to regulations and a mechanism to regulate land use fees appropriately.


Hanoi will have another district from 2020.


City People's Committee Hanoi has just issued a Decision on the establishment of a Steering Committee for the implementation of the Investment Project to build Hoai Duc district into a district by 2020. Mr. Nguyen Duc Chung, Chairman of Ho Chi Minh City People's Committee Hanoi is the Head of the Steering Committee.


According to the recently approved decision, the Steering Committee is responsible for developing programs, directing, supervising and urging the implementation of solutions to mobilize and promote the synergy of central and municipal agencies, domestic and foreign enterprises, people. Focus on implementing the investment and construction projects of Hoai Duc district identified in the project, ensuring that the criteria for establishing the district will be achieved by 2020.


Previously, the Hanoi Standing Committee of the Party Committee agreed to advocate the implementation of the Project on investment and construction of Hoai Duc district into a district by 2020. The Party Committee of the City People's Committee was assigned to establish a Steering Committee to direct organization of project implementation.


According to the Standing Committee of Hanoi City Party Committee, the above project should pay special attention to perfecting the construction planning, giving priority to promoting the early completion of 8 unfulfilled targets; solutions to tackle trade village environmental pollution.


In particular, the project needs to build a contingent of cadres that meet the task requirements in the new condition. The city also requires the relevant units to strengthen state management of land and urban construction order.


To have enough resources to implement the project, Hanoi directed departments and agencies to coordinate with Hoai Duc district to propose mechanisms and policies to mobilize on-the-spot investment capital from land potential in the area through bidding and auction according to regulations and mechanisms according to regulation of land use fees in a reasonable way.


On ensuring progress, Hanoi needs to study, consider and promote decentralization, authorize Hoai Duc district to carry out procedures related to approval of detailed planning of public investment projects and approval of investment policies as well as decisions of invest in public investment projects, especially projects on technical and social infrastructure.


Together with Hoai Duc District, the City People's Committee has researched and finalized a pilot management project based on the model of urban government, reported to the City Party Committee for summarizing and submitting to the Politburo; Complete projects of building districts of Gia Lam, Dong Anh and Thanh Tri into districts by 2020.


According to Thu Trang

Within 3 years, Hanoi has built over 8.8 million m2 of housing floor

Within 3 years, Hanoi has built over 8.8 million m2 of housing floor

In the afternoon of 6/8, Hanoi Department of Construction held a conference to review the housing development program and plan of Hanoi city in the period of 2016-2020.


According to the Hanoi City Housing Development Program for the period to 2020 and orientation to 2030 approved by the Prime Minister, the target of newly constructed housing floor area is 6,220,861 m2 of society housing floor.


Of which, 976,992 m2 student housing floors; 567,539 m2 of floor for workers; 4,676,330 m2 of low-income houses; 1,200,000 m2 of housing floor for resettlement; 20,418,000 m2 of commercial housing.


The norm of per capita area of the whole city is 26.3 m2/person, (urban area reaches 29.1 m2/person; rural area reaches 22.1 m2/person). At the same time, striving for the quality of solid houses in the city up to 91.2%, completing the temporary and simple houses.


Illustration.


The results show that in the period of 2016-2018, the whole city invested in constructing new houses according to the project of about 8,803.602 m2 of floor area, about 77,524 units (of which: 74,851 apartments and 168 rooms for students, 2,673 low-rise houses) to accommodate about 310,100 people in the Capital with new housing and about 2,016 students to rent.


The city has made a breakthrough in solutions to meet the needs of housing fund to serve the needs of resettlement of key projects and infrastructure.


Specifically, the City People's Committee proactively proposed the City Party Committee and the Prime Minister to implement the mechanism of order and policy for commercial housing construction to create a resettlement housing fund.


Currently, the City has supported and invested in social housing development from the proceeds from commercial housing projects implemented by the method of payment equivalent to the value of the residential land fund of the project for distribution. Social housing development (currently 2,050.67 billion VND has been contributed to the social housing development).


According to the plan, in the coming time, the Department of Construction will continue advising the City People's Committee to focus on urging the investor to report on investment supervision and evaluation under the Investment Law, accelerate the project implementation schedule to The city soon invested in completing 2,947,978 m2 of floor in ongoing projects to supplement the city's social housing fund in the period of 2016-2020.


At the same time, synchronous solutions will be implemented to supplement about 1.67 million m2 of missing floor compared to the approved 2016-2020 Plan.


According to Tam An

Hanoi set up a supervision team for social housing program in Ha Dong, Cau Giay and Bac Tu Liem districts

Hanoi set up a supervision team for social housing program in Ha Dong, Cau Giay and Bac Tu Liem districts

Hanoi has just established a Supervisory Mission of the City Council of the City Council on the status of implementing housing development plans for the period 2016-2020 and implementing recommendations of the SAV on the Social Housing program in Ha Dong districts, Cau Giay, Bac Tu Liem in the period of 2015-2017.


Illustration.


Accordingly, the Supervisory Delegation will review reports of relevant departments and branches and directly supervise at the Department of Construction, combining field surveys in some projects in the City. The direct supervision at the units is expected to be conducted from August 23 - 30, 2019.


The monitoring mission aimed to evaluate compliance with the implementation of the City Housing Development Plan (2016-2020); the implementation of the State Audit's recommendations for auditing the Social Housing Program in Ha Dong, Cau Giay and Bac Tu Liem districts (period 2015-2017); evaluate the achieved results, clarify the limitations, difficulties and problems that need to be solved, identify the causes and responsibilities of the concerned levels, branches and organizations. From there, propose solutions to more and more effective implementation of housing policies and laws in the City in the coming time.


Previously, the Department of Culture and Social Affairs of Hanoi City People's Council said that from 2016 to the end of March 2019, the City had 147 commercial housing projects that were decided to invest in an area of approximately 14,196 m2 of land, total investment of about VND 390,788 billion; 13 social housing projects with an area of about 526,645 m2 of land, total investment of about 36,041 billion dong; 11 resettlement housing projects with an area of about 219,169 m2 of land, total investment of about VND 19,523 billion.


Meanwhile, there are many projects of urban areas and residential areas that have not been invested to ensure synchronism, slow construction of schools and kindergartens compared to the construction schedule in the planning.


Typically: Xuan Phuong urban area - Viglacera; Urban area exchanging city; Urban Diplomatic Corps area; Co Nhue new urban area - Xuan Dinh; Housing and public works project in Co Nhue commune; Residential area for sale Quang Minh - Vinaconex2...


According to Tam An

Bloom of real estate resort project on the outskirts of Hanoi

Bloom of real estate resort project on the outskirts of Hanoi

Catching the trend of seeking a place to enjoy the weekend of Hanoi middle class, many resort projects in Ba Vi and Luong Son rushed to sell.


Ba Vi, about 40 km from the center of Hanoi, just over a year ago, only a few resort projects kicked off. But recently, despite no aggressive advertising, projects of several tens of hectares have been continuously introduced with a variety of products, from villas, completely adjacent, to land plots.


In Luong Son, Hoa Binh, a project was approved decades ago but not implemented because the investor assessed that the market was bad. Recently, this investor has restarted, offered for sale 6.5 million dong per m2 for resort land plots of 200 m2. Advertised with 5-star facilities, the project aims to become one of the major eco-resorts, targeting customers in Hanoi who want to find places to enjoy the weekend.


A coastal resort project is under construction. Photo: K.H


Going further, another project in Ky Son and Hoa Binh also launched nearly 60 plots of resort villas from VND 4.5 million per m2. With the price of each unit from VND 1 billion, the advertising investor may increase from VND 2.2 to 2.8 billion by the end of this year when the infrastructure and utilities are completed, while the new project has just started work.


Besides the villas, adjacent houses are completed, the current investors sell the whole type of resort land.


"The type of land plot is easier to attract investors because the amount of money paid immediately is not much, only about one billion VND for the villa floor from 150 m2. When completing financial obligations, they will receive a red book and wait until new finance is built", said Huy, a broker selling a resort project on the outskirts of Hanoi.


Most of the resort projects in the suburbs, with completed apartments, investors are committed to renting to exploit tourism, even the time of commitment to rent up to 15 years. With this option, the client entrusts the business investor then shares the revenue.


"The minimum profit is not less than 200 million per year. The investor will preferentially pay 5 years in advance of the rent, equivalent to VND 770 million minus directly from the contract value. Buyers also enjoy preferential policies of night stay in the chain of investors' system”, Mr. Huy advertised. For those who do not rent out to the investor, they can do business on their own.


Not only selling finished house products or resort land with permanent land use right certificate, some investors also sell land for gardening, vegetable growing, flower growing, camping... These land lots are about 400 million, 150-200 m2 wide, located in the overall resort. Some investors commit to making red books for customers after 6 months of fulfilling financial obligations.


The suburban real estate segment reappears based on the positive assessments of the market situation, the demand for weekend use of the capital's people.


According to Mr. Nguyen Thanh Trung, Deputy General Director of Archi Investment Joint Stock Company, the advantage of suburban resort is low cost. He calculated, if renting a resort apartment with 3 bedrooms, plus living expenses, on average, each person would spend one million dong a day. This level is consistent with the affordability of many middle-class people in Hanoi. This trend would affect the suburban resort real estate market, leading to an increase in investment demand.


However, Mr. Luong Ngoc Khanh, General Director of H&K Hospitality Hotel Management Company has a more cautious view when he thinks that the picture of suburban resort tourism is still good but investors also need to look on the other side that in the weekdays, the resorts are very empty. Moreover, many projects with unique designs and utilities that make a difference will be difficult to attract guests.


Meanwhile, Mr. Tuan, the investor who owns a number of homestays in the coastal area of Hanoi, said that one of the most important elements of the coastal resort projects was the landscape, freshness and facilities. Therefore, if buying a house in a big project but the investor does not deploy the dusty, disordered facilities, the investor may face risks during the operation. Therefore, he thinks that these factors need to be considered carefully before investing.


According to Nguyen Ha

Hanoi: Condominium areas where prices will increase?

Hanoi: Condominium areas where prices will increase?

When the land fund in the West of Hanoi is exhausted, the South is currently very high in density, the East is gradually having big projects being exploited, investors are looking to the North and calculating the investment.


33,000 apartments have been offered for sale this year


The real estate market report for the second quarter of 2019 of CBRE - a unit specializing in real estate research and consultancy shows that in the first 6 months of this year, the Hanoi real estate market recorded 17,700 new apartments for sale. In particular, in Q2, there were 6,400 apartments for sale; The mid-end and affordable segments dominated the market, accounting for approximately 98% of total new launches in the quarter. In the high-end apartment segment, there are only 2 new projects, located in Tay Ho district.


According to CBRE's forecast, from now until the end of 2019, Hanoi's apartment price will remain stable as in the first months of the year...


Along with that, the sales were quite positive with over 40% of new supply and sales were sold in the second quarter. Specifically, there were 6,900 units sold, an increase of 17% over the same period. Notably, active sales and positive construction progress from urban projects and individual housing projects have contributed to positive sales in the second half of 2019.


Regarding the selling price, the average selling price on the primary market in the second quarter was recorded by CBRE at 1,337 USD/m2, up 4% year on year; But if comparing the same basket of projects by year, the primary price only increased slightly by 1%. Notably, the high-end segment has an average price of up to 2,345 USD/m2 - the highest price in this segment within the past 5 years.


CBRE also forecasts that new supply in 2019 is expected to be over 33,000 apartments and the mid-end segment continues to lead the market, accounting for approximately 70-80% of the total new supply and launch. This shows that the Hanoi market is still targeting the segment of buyers to stay. Besides, recent urban products also attract a part of domestic investors.


Meanwhile, due to the urban districts becoming more crowded, the housing supply is expected to gradually move away from a radius of 10 km from the center of Hanoi.


Condominium public high prices?


Talking with PV Infonet about the prospects of the real estate market in general and the apartment market in particular from now to the end of the year in Hanoi, Ms. Nguyen Hoai An - Director of CBRE Hanoi said, with the apartment market, households and infrastructure are among the influencing factors.


“Forecasting for the last months of 2019, apartment prices will remain stable as in the first months of the year. However, it is possible that the project in a prime location will have a relatively high asking price because there is not much land available to carry out those location projects” Ms. An said.


Answering questions of Infonet related to which areas of Hanoi will attract investors next time? Ms. An said: In the past 10 years, Hanoi has focused on developing in the West and has now grown very fast; Recently the movement is heading to the south and somewhat to the east of Hanoi.


“There are already beginning to see other areas within a radius of 10km north of the Red River - this is less developed than other areas of Hanoi; But due to its proximity to Noi Bai International Airport, the north of Hanoi is also a potential area for both housing and logistics. When the West land fund is exhausted, the South is currently very high density, the East is gradually having large projects being exploited, investors are looking to the North and calculating investment. We expect the northern area of Hanoi in the next few years will also be an active location with new projects”An added.


Regarding the recent "land hot status", Ms. An said that this is a characteristic of the developing market and the information is not transparent. Recently this phenomenon only occurred locally and happened in a short period of time. The future will still have such phenomena when there is information about new infrastructure being implemented, or new projects implemented by large investors.


"For example, in Hanoi a number of infrastructure projects have been announced such as Metro Line 3 connecting Hanoi Station to Yen So or the new Vinh Tuy Bridge will be built... will also cause investors excited in the surrounding areas", Ms. An said.


According to Minh Thu

Hanoi built 16 10-storey buildings in Viet Hung urban area to serve the relaxation of the old quarter town

Hanoi built 16 10-storey buildings in Viet Hung urban area to serve the relaxation of the old quarter town

Implementing the project of relaxing the old town in Hoan Kiem district, Ho Chi Minh City Hanoi will build 16 10-storey buildings to serve the relaxation of the old town to reduce the density to 500 people/hectares. The project is expected in the fourth quarter of 2019.


Hanoi is expected to reduce the density to 500 people/hectares in the old quarter


City People's Committee Hanoi has just issued a written response to voters' proposals on the proposal to stretch the old town.


Accordingly, up to now, Hoan Kiem District People's Committee is implementing phase 1 of the Project, including first-coming projects, construction of residential quarters to relax in the old town in Viet Hung Urban Area, Long Bien District and the beginning, moving households out of the old town.


With that, the City People's Committee Hanoi has approved the mechanism of investment in construction of residential quarters for relaxing old townships. The project on constructing social infrastructure of residential areas for relaxing people (kindergarten) has been completed, accepted and put into use since May 2016.


Regarding the project to build the transport system and urban technical infrastructure, the residential area for relaxing population, has completed the construction of moving N19 substation and handed over and put into use.


The remaining items are continuing to complete the dossier to approve the construction drawing design and the total cost estimate of the project, ensuring sufficient conditions to deploy construction uniformly and in accordance with the construction progress. The project to build houses for relaxing people, expected in the fourth quarter of 2019.


The document said that the City People's Committee has directed the construction of underground parking on this area; The departments are instructing Hoan Kiem district People's Committee to select investors, determine the starting price to auction land use rights to implement the underground parking construction project, which was expected to organize auction in the third quarter of 2019.


In addition, the City has decided to approve the adjustment of local planning. The Ministry of Planning details the scale of 1/500 housing construction projects to expand population. Accordingly, 16 new 10-storey buildings will be built to serve the relaxation of the old town.


The City assigned the Department of Planning and Architecture to coordinate with the People's Committee of Hoan Kiem District to study and propose adjustments to the architectural planning towards increasing the height of floors and increasing the basement area, ensuring project efficiency.


“Currently, Hoan Kiem District People's Committee is cooperating with the Department of Planning and Investment to conduct investor selection procedures (expected in Quarter III/2019) and coordinate with the selected investor to carry out the procedures in order to implement the project in the fourth quarter of 2019" the City People's Committee Hanoi stated.


Hanoi Old Quarter has an area of about 81 hectares located in 10 wards of Hoan Kiem District, with a total population of about 66,600 people corresponding to the density of 823 people/hectares. Hanoi is expected to reduce the density to 500 people/hectares, correspondingly to move about 6,550 households with more than 26,000 people.


The policy of relaxing the old town was set by Hanoi 20 years ago. The city has been planning to start the project since 2002 with the goal of initially relocating about 7,000 people to Viet Hung urban area. However, in 2013, the city has just issued a document to implement the policy of relaxing the old town and the population needs to be moved 10 times the original target.


In January 2015, Hoan Kiem district announced a press conference to start construction of the residential area and to complete it by the end of 2017. Hoan Kiem District also plans to relocate in the first phase of the project with over 500 households including: People live in monuments (more than 46 households); in the office (21 households); schools (13 households).


The project of relaxing the old town population is implemented in order to create favorable conditions for the preservation and embellishment of valuable ancient relics and architectural works; sustainable urban development; contribute to promoting economic development including tourism services.


According to Thanh Nga

CBRE: The segment of houses attached to land creates a phenomenon in the Hanoi real estate market

CBRE: The segment of houses attached to land creates a phenomenon in the Hanoi real estate market

CBRE has just announced the focus of the Hanoi real estate market in the second quarter of 2019 and the first 6 months, in which the land-attached housing segment was mentioned as a phenomenon in Hanoi market.


Hanoi market saw a boom in the first half of the year for both apartments and terraced houses. Photo: Thanh Nguyen


The house immediately came out with large number


In the land-attached housing segment, the first half of 2019 the market received 3,241 units launched (mainly in the first quarter). This offering was more than 1.5 times the total supply in 2018.


Along with a surge in sales, this market liquidity is also very good. There were 2,980 units sold in 6 months, 14% higher than the total units sold in 2018.


The average villa price in the secondary market in the second quarter of 2019 reached 4,075 USD/m2 (including VAT and construction costs), which was seen as an increase of 3.9% compared to the first quarter. The price returned to the landmark from 4,000 USD/m2 thanks to on price increases of villas in areas such as Gia Lam, Long Bien and Ha Dong. These are areas with much improved transport infrastructure and reputable developers.


The Eastern area dominates new supply, as up to 80% of new supply comes from this market. Overall, the Western area still dominates in the total supply of residential housing segment attached to land.


Open record sale apartment


According to CBRE, in the first 6 months, the Capital market recorded a large supply, reaching 17,700 new launches. This is one of the first half of the year with record sales. In particular, the second quarter accounted for 6,400 units.


Notably, the mid-end and affordable segments suddenly dominated the market with 98% of total supply. The supply is large, but the liquidity is also very good. Over 40% of new supply has been sold. In the second quarter alone, 6,900 units were sold, increasing 17% year on year.


Regarding selling price, the average price of primary market is 1,337 USD/m2, increasing 4% year on year. With the high-end segment, the average price is 2,345 USD/m2, the highest in the last 5 years, CBRE forecasts, there will be 33,000 new apartments will be launched for sale in 2019, equal to the period from 2016 - 2018.


According to Thanh Nguyen

Savills: Segment of apartments for sale quietly; villas, adjacent houses in Hanoi "ascended the throne"

Savills: Segment of apartments for sale quietly; villas, adjacent houses in Hanoi "ascended the throne"

Savills Vietnam has just released a report on the Hanoi real estate market in the second quarter of 2019 with some interesting features.


The second quarter recorded a strong rise of the villa/townhouse segment. Photo: Thanh Nguyen.


Specifically, with the retail segment, the non-CBD area dominated with many new projects. The total supply reached about 1.5 million m2, increasing by 7%, 14% QoQ and YoY respectively. Occupancy rate increased by 1%, 0% QoQ and YoY respectively. Retail sales increased by 14% year on year. In the second half of 2019, the market will have about 142,000 m2 of supply.


In the office segment, the total supply reached approximately 1.8 million m2, increasing by 2%, 9% QoQ and YoY respectively. Rents also increased by 1%, 3% QoQ and YoY respectively. Annual occupancy was stable and slightly up, 1% QoQ.


In particular, Grade B was the dominant segment in the office market and had the strongest price increase in 3 grades. The West continued to record better growth, compared to the central and urban areas.


The hotel segment was a bright spot although it was currently the low season. The current supply was approximately 10,000 rooms, stable on a quarterly basis and decreased 1% year on year.


The number of international tourists coming to Hanoi increased by 10.6% to 3.3 million, which significantly improved the rental performance of hotels. Q2 capacity reached 73% (60% higher than HCMC).


Hotel rents steadily increased in all grades. 3-star hotels increased by 12%. 4 and 5-star hotels increased by 4%. 5-star hotel worked particularly well with an average rental price of 127 USD/launcher/night. 5-star hotels in the West area always achieved over 80%, sometimes reaching over 90%.


The serviced apartment segment has an average rental price of 25 USD/m2/month, stable on a quarterly basis but increased 3% year on year, average occupancy decreases by 2%, 5% quarterly and yearly. In the last 6 months, Hanoi will have about 950 more units.


The segment of apartments for sale is recording certain calmness. New supply was added 6,600 units, decreased 32%, 33% QoQ and YoY respectively. Total units sold decreased 3% QoQ but increased sharply 27% YoY.


In particular, Grade B leads when it accounts for 71% of supply, followed by Grade C with 28%. Savills forecasted that approximately 30,000 apartments would be offered for sale in the second half of the year.


Contrary to the quiet of the apartment segment for sale, the villa and townhouse segment performed very well. The total supply of the whole market reached over 49,000 units, increased 3%, 15% quarterly and yearly respectively.


In the second quarter, there were 3,300 additional units, increased 9% QoQ and decreased 3% YoY. Transaction volume also increased sharply by 82% year on year, absorption rate reached 64%.


Looking at the market picture, Ms. Do Thu Hang, Head of Savills Hanoi Research Department, commented that big real estate and infrastructure projects were greatly affecting the investment situation in areas of Hanoi. 


For example, the Lotte Mall Tay Ho project has helped increase the region's premium level, as it is a large-scale project with many high-end services. Similarly, when Aon Mall comes into operation, it will also add value to the Ha Dong area; Although F1 race has just been started, it is improving for projects in the West of the city; Meanwhile, the Smart City project or Vinh Tuy Bridge phase 2 will contribute significantly to the northern and southern areas of Hanoi.


According to Thanh Nguyen

Hanoi is about to have a general planning of underground construction space

Hanoi is about to have a general planning of underground construction space

The Chairman of City People's Committee Hanoi Nguyen Duc Chung signed the Official Letter No. 3106/UBND-KHĐT on the implementation of key tasks for the last 6 months of 2019, which clearly stated the tasks of the Department of Planning and Architecture in charge of construction, submitted many important planning scheme.


Hanoi is about to have an urban planning of the Red River


Accordingly, the City People's Committee directed the Department of Planning and Architecture to lead the development and submit to the City People's Committee to consider, comment or approve the technical regulations of architectural planning in 4 urban districts (Ba Dinh), Hoan Kiem, Dong Da, Hai Ba Trung); Planning on station area of Hanoi and surrounding areas; General planning of underground urban construction space in Hanoi city to 2030, vision to 2050; Red River urban zone planning, scale 1/5000 (Rl-5); Planning on urban area of Duong river (R6); GN urban area planning (A); Review and adjust the general construction planning of the Capital until 2030 with a vision to 2050.


In addition, the City requested the Department of Planning and Architecture to focus on completing the appraisal and submission for approval of urban area planning projects, including: H1-1 (A, B, C); H1-2; H1-3 and H1-4, key detailed planning projects and improvement planning (Detailed planning on conservation, development of traditional craft villages combined with tourism in Van Phuc silk village).


Detailed planning on conservation and development of traditional trade villages combined with tourism in Bat Trang ceramics village, planning on rebuilding old apartment complexes (C86 Kim Ma Thuong, Mai Dong and Thuong Dinh (Thang Long Tobacco), Thanh Xuan Bac, Thanh Xuan Nam; Thanh Cong, Trung Tu, Van Chuong, Ngoc Khanh, Giang Vo, Kim Lien, Khuong Thuong, Thuy Loi, Polytechnic, Nam Dong, Thanh Nhan, Thanh Cong, Kim Giang, Vinh Lake).


Along with that, chairing and guiding the People's Committees of districts to formulate and complete the approval process of planning on building new rural communes.


According to Thu Trang