PRESENTED BY: DUONG LAN ANH PRICE MANAGEMENT

PRESENTED BY: DUONG LAN ANH
PRICE MANAGEMENT DEPARTMENT, MOF VIETNAM
Vietnam Legislation on Valuation
Law on Price 2012
Decree No. 89/2013/ND‐CP on valuation
Circular No. 38/2014/TT‐BTC on valuation
Circular No. 46/2014/TT‐BTC on valuer examination and valuer license
Circular No. 204/2014/TT‐BTC on the professional training in valuation
13 Valuation standards:
1.
2.
3.
4.
5.
6.
Code of ethics
Market value
Non‐market value
Economics principle applied to valuation
Types of assets Procedure of valuation
7.
8.
9.
10.
11.
12.
13.
Valuation report
Market approach
Cost approach
Income approach
Real estate valuation (draft)
Business valuation (draft)
Intangible asset valuation
Vietnam Legislation on property
Land law 2013
Decree 44/2014/NĐ‐CP on Land pricing
Circular 36/2015/TT‐BTNMT on land pricing
Law on Real estate business 2014
Law on Housing 2014
VIETNAM ECONOMIC OUTLOOK
VIETNAM ECONOMY
GDP up 5.46% (Q1 2015: 6.12%)
Committed FDI up 119% y‐o‐y to US $4 bn
CPI up 1.7% y‐o‐y
Retail sales up 8.9%
Source: CBRE
Vietnam
Vietnam economy
Source: CBRE Vietnam
VIETNAM REAL ESTATE MARKET
OFFICE – Rent and vacancy
Source: CBRE
Vietnam
OFFICE – Supply
Source: CBRE Vietnam
Source: CBRE Vietnam
RETAIL ‐ Hanoi
Source: CBRE Vietnam
RETAIL ‐ Hochiminh
Source: CBRE Vietnam
RETAIL
CONDOMINIUM ‐ Hanoi
The total primary stock was 16,270 units, increasing 1% QoQ and 26% YoY. There were 17 existing and 8 new projects, providing 6,620 units, decreasing ‐18% QoQ. Sold units in Hanoi
There were more than 5,600 units sold, a decrease of ‐13% QoQ but unchanged YoY. The absorption rate decreased ‐6 ppts QoQ to 34 percent. Tu Liem district continues to record the greatest sales with a 24% market share. Grade B still leads the market with more than a 66% share. Source: Savills Vietnam
CONDOMINIUM ‐ Hochiminh
In Q1/2016, there were approximately 7,600 new units launched from 17 new and 3 existing projects. Total primary stock was 37,400 units, down ‐1% QoQ and up 82% YoY. Transaction volume was approximately 6,300 units, down ‐18% QoQ but up 49% YoY. Absorption rate was 17%, declining ‐4 ppts QoQ and YoY due to abundant new supply in recent quarters. Grade A had the highest absorption rate at 23 percent. Grade C sales increased slightly by 7% QoQ while Grade A and B decreased by ‐34% and ‐32% QoQ respectively. Source: Savills Vietnam
VILLA & TOWN HOUSE ‐ Hanoi
Total stock of the Villa/ Townhouse segment was 31,712 dwellings (1,662 primary and 30,050 secondary) from 124 projects, up 1.9% QoQ and 5.6% YoY. Villa and Townhouse performance
Ha Dong district remained the top supplier with a 27% market share. Two new projects and a new launch of an existing project provided 326 dwellings (100 villas and 226 townhouses). More than half of 80+ known future projects are in the planning stage. In 2016, 10+ projects are expected to enter the market. Source: Savills Vietnam
VILLA & TOWN HOUSE ‐ Hochiminh
Ten new villa/ townhouse projects provided approximately 740 dwellings to the primary market. It reached a stock of approximately 2,060 dwellings, up 7% QoQ and 86% YoY. Villa and Townhouse performance
Townhouses dominated with 78% market share. The absorption rate was 22%, down ‐9 ppts QoQ
and ‐10 ppts YoY. Districts 2 and 9 were the best performers. With well‐planned infrastructure, districts 2 and 9 are set to dominate future supply with a 49% share. Source: Savills Vietnam
Thank you for your attention!