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Follow on Google News | Market Report, "Vietnam Real Estate Report Q4 2010", publishedNew Business market report from Business Monitor International: "Vietnam Real Estate Report Q4 2010"
Normally, in an economy that has been growing so quickly - that the authorities are tightening both fiscal and monetary policy in order to curb inflationary pressures - rents and capital values would fall until much of the vacant space is absorbed. In early 2010, it was not clear that this process of adjustment was underway in Vietnam. The government had intervened to re-regulate the commercial Real Estate sector. Approvals for projects that have been proceeding slowly have been revoked. The aim of this measure may have been to prevent/discourage speculation in a country where inflation has been rising. More likely, it was a move to curb supply at a time that rental rates were under downwards pressure. By mid-2010, though, it had become clear that the market was stabilising. Our in-country sources indicated that Da Nang office and Hanoi industrial rents had increased dramatically since 2009. Elsewhere, rents tracked sideways or rose by single digit amounts. Looking forward, our sources anticipate that rents will continue to move sideways through 2011. They are less optimistic about the prospects for higher rents in Hanoi than in Ho Chi Minh City or Da Nang. Our view is that the government has allowed market forces to operate in at least some of the market. One of the key findings from our mid-2010 interviews was that yields had risen sharply in the office and industrial sub-sectors of Hanoi and Da Nang. The implication is that there has been a major adjustment in these sub-sectors - in the form of a slump in capital values. It may well be that 2010 comes to be seen as the year in which the key trends in Vietnam's commercial Real Estate sector became much clearer. A substantial over-supply of property is being absorbed - although official intervention is still preventing across the board adjustments in rents, yields and capital values. Conditions in particular sub-sectors remain volatile - but yields are in general likely to move sideways or downwards over the coming four years. Key Features Of This Report This is the latest edition of a new series of industry reports published by BMI that seeks to identify the key dynamics of the real estate sectors of 44 countries around the world, some of which are developed and some of which are, in every sense, emerging markets. Once again, the questions that we seek to answer for each country remain as follows: What are the main issues that will matter to actors in and around real estate development in the country concerned, both over the long and the short term? What are the main constraints that they face? What are the key insights that one garners when one compares the real estate sector of the country concerned with its peers in other countries? In Q3 we have introduced a very substantial new improvement to the reports. We have incorporated data and qualitative observations provided to us by commercial real estate agents operating in the countries we survey. As a result we have gained a much clearer picture of the balance between demand and supply in each of three main sub-sectors - office, retail and industrial. We have also introduced a new approach to the forecasting of rental yields, which is discussed in the methodology sector of this report. In Q4, we have incorporated a lot of new data in relation to rents and yields in 2010. We gained this data by way of a new round of interviews with our in-country sources in mid-2010. In some cases, the latest information from our sources has caused us to make significant revisions to our forecasts for 2011-2014. We asked our sources to indicate what growth in rents is likely for 2011. We explain their answers in the Forecast Scenarios. For more information or to purchase this report, go to: - http://www.fastmr.com/ Partial Table of Contents: Executive Summary SWOT Analysis - Vietnam Real Estate/Construction SWOT - Vietnam Economics SWOT - Vietnam Business Environment SWOT Regional Real Estate Overview - Table: Asia Pacific's Office Markets At A Glance - Rents, 2009-2011 (US$ per square metre per month) - Table: Asia Pacific's Retail Markets At A Glance - Rents, 2009-2011 (US$ per square metre per month) - Table: Asia Pacific's Industrial Markets At A Glance - Rents, 2009-2011 (US$ per square metre per month) Real Estate Market Overview - Table: Vietnam Real Estate Markets - Rentals in msq/month (USD) - Table: Vietnam Real Estate Markets - Net Yield (%) - Vietnam Real Estate Markets - Terms of Contract/Lease - Vietnam Real Estate Markets - Available Space (msq) and Vacant Space (%) Forecast Scenario - Real Estate Outlook - Table: Vietnam Real Estate Markets - Rentals in msq/month (USD) - Table: Vietnam Real Estate Markets - Forecast Net Yield (%) - Construction Industry Outlook - Table: Construction and Infrastructure Industry Data - Vietnam's Macroeconomic Outlook - Table: Vietnam - Economic Activity, 2007-2014 Business Environment - Real Estate/Construction Business Environment Ratings - Table: Asia Real Estate/Construction Business Environment Ratings - Vietnam's RECBER - Asia Pacific Project Finance Ratings - Table: Design And Construction Rating - Table: Commissioning And Operating Rating - Table: Overall Project Finance Rating - Vietnam's Business Environment - Table: BMI Business And Operational Risk Ratings - Table: BMI Legal Framework Ratings - Table: Annual FDI Inflows Into Asia, 2006-2008 - Table: BMI Trade Ratings - Table: Vietnam Top Export Destinations, 2001-2008 (US$mn) Company Monitor - Becamex IDC Corp - COTECCONS Group - Full Table of Contents is available at: -- http://www.fastmr.com/ About Business Monitor International Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at http://www.fastmr.com/ About Fast Market Research Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156. # # # Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available. End
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