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PropertyGuru’s real estate news roundup also shares that Vietnam’s southeastern region is working to boost tourism. Also, the Greater Bay Area (GBA) is proving successful as more Hong Kongers “head north” across the border in search of shopping and entertainment. Finally, prices of Housing and Housing Board (HDB) resale apartments rose 2.1% in the second quarter of 2024.
Southeast Vietnam region looks at ways to boost tourism competitiveness
The southeastern region, consisting of Ho Chi Minh City, Ba Ria-Vung Tau, Tay Ninh, Binh Phuoc and Binh Duong provinces, is striving to boost tourism through developing strong products, improving connectivity and forming new tours, Vietnam Plus reported.
The Regional Development Master Plan 2021-2030, with a vision up to 2050, envisages the tourism sector developing in a professional, modern, high-quality direction and becoming highly competitive.
Specifically, Ho Chi Minh City and Ba Ria-Vung Tau Province are defined as the driving forces behind tourism development in the region, and Vung Tau City will be transformed into a high-quality, international-class tourism center.
Last year, the six southeastern regions welcomed more than 65 million tourists, accounting for 54 percent of the country’s total, but experts and managers agree the region still has a lot of untapped potential.
Hong Kongers heading ‘north’ to spend proves success of Greater Bay Area, officials say, as 74.6 million trips recorded
Hong Kong’s commerce secretary said the growing trend of Hong Kongers “heading north” across the border for shopping and entertainment was testament to the success of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), after about 10 trips to mainland China or Macau were recorded per Hong Kong resident between May last year and April.
Responding to a question from Senator Kenneth Leung, Algernon Yau, director-general of the Commerce and Economic Development Bureau, said the development of the Hong Kong-Zhuhai-Macau Bridge, the Guangzhou-Shenzhen-Hong Kong Express Rail Link and the new border checkpoint at Liantang had made it more convenient for people to cross the border, according to HKFP.
Comprising nine major cities in Hong Kong, Macau and Guangdong province, the GBA aims to further deepen cooperation between mainland China and the two special administrative regions. The region is expected to support China’s technological innovation and economic development.
Singapore HDB resale prices rise 2.1% as private housing market ‘stable’ in Q2: preliminary figures
Prices of Housing and Housing Board (HDB) resale flats rose 2.1% in the second quarter of 2024, faster than the 1.8% increase in the previous quarter.
According to preliminary figures released by HDB on July 1, the number of resale apartments in the second quarter ended June 27 rose 14.5% to 7,208 from 6,297 in the same period last year.
CNA reported that HDB attributed the increase in resale prices and sales volumes to strong broad-based demand and “tight market supply” as there were fewer apartments meeting the minimum occupancy period (MOP) this year compared to 2023.
The Housing Commission added that domestic mortgage rates are expected to remain high compared to the lows of the past decade.
This article was written by Property Report editors. For more information, please contact us at [email protected].
