V V G ~ Business and Investment Articles
Copyright © 1998-2013 Vietnam Venture Group, Inc. All rights reserved. August 18, 2008
INFLATION SPECIAL REPORT
Inflation remains high in August 2008 but so does Vietnamese consumer confidence. Do they know something we do not, or are they being blinded by false hopes and speculation?
Workers go on strike in inflation-hit Vietnam http://www.dawn.com/2008/08/03/ebr13.htm
In Vietnam, Consumer
Confidence High — Inflation Too
August 6th, 2008 Posted in Consumer
Vietnam is experiencing its highest inflation in more than a decade, but consumer confidence in the country is still relatively high, according to Nielsen.
The Vietnam News Agency Bulletin reported Wednesday that the country ranked ninth in Nielsen’s recent survey of global consumer confidence.
The same study showed that Vietnam’s inflation rate climbed to 26.8% in June — compared with a rate of 8.3% a year ago.
“Although inflationary pressure will directly impact consumer behavior within some product and service categories, mid-to long-term prospects in Vietnam are still very encouraging,” Aaron Cross, Managing Director of Nielsen Vietnam, told the Agency Bulletin. “Most of our clients in Vietnam continue to enjoy very strong growth and are increasing their investments based on strong consumer demand.”
View Nielsen’s global consumer confidence http://www2.acnielsen.com/reports/documents/GCC_LR_200608.pdf
HCMC Real Property costs increase in August
….property prices were pushed up by several successful transactions.
The prices of apartments and land on District 2’s main roads rose by VND1 million to VND2.5 million (US$60-$150) per square meter.
Land on Tran Nao and Luong Dinh Cua streets, for example, are now priced VND60 million to VND80 million ($3,600-$4,800) per square meter.
The price of apartments in District 4 also rose over the past two weeks.
Flats in Van Do Building now cost more than VND20 million ($1,200) per square meter while apartments in the H3 Building on Hoang Dieu Street sold at VND28 million to VND30 million ($1,680-$1,800) per square meter.
As these apartment buildings are located near the city center, sellers decided to raise the prices, some real estate centers said.
The backer of the Phu My Building project in District 7 is advertising apartments at VND19 million to VND21 million ($1,140-$1,260) per square meter, a sharp rise compared to last month’s price of VND15 million to VND16 million ($902-$962) per square meter.
Experts said the demand for real estate was still high but customers were being very careful, searching for a quality apartment at a good price.
Many customers are also waiting to buy real estate from investors who need money to clear bank loans, experts said.
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