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Tag: lifestyle

  • ASICS India opens first store in Kolkata

    ASICS India opens first store in Kolkata

    ASICS, a true sport performance brand, launched its first store in Kolkata thereby expanding its retail footprint in a bid to strengthen its presence in India. With the opening of the ASICS Kolkata store, the brand has taken a step forward to strengthen its presence in the east region. The new store is located conveniently in one of the finest malls of the city – South City Mall. The store will offer a wide range of running, training and core performance sports shoes, apparel and accessories for men and women.

    The brand will accelerate its expansion of operations in India, bolstering sales and marketing support for retail stores in response to increasing consumer awareness of health and fitness and rise in spending power.

    Speaking on the new launch, Rajat Khurana, Managing Director, ASICS India said, “Given the potential and growing demand for fitness and sports, India has emerged as an important market for ASICS. This year, our focus is to expand our footprint in both tier 1 and tier 2 cities and offer our best in class products ranging from running, sports, for gym and other fitness-related gear. Kolkata is a very key market for us considering the large audience for sports and fitness in this market. We are hopeful that our products designed keeping core performance in mind will be able to cater to the needs of sports and fitness lovers in the city.”

    The store will showcase the latest ASICS AW18 collection that will host a range of key collections, like the newest additions to the ASICS running portfolio – ASICS Liteshow along with key products like Kayano 25 and Nimbus all featureing FLYTEFOAMTM, ASICS lightest-ever midsole technology. FLYTEFOAM works with the wearer’s foot to deliver superior cushioning every step of the way. It is also about 55 percent lighter than the industry standard midsole material, offering runners a comfortable fit with a fast, responsive feel.

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  • Kia’s sporty K3 GT balances speed and safety

    Kia’s sporty K3 GT balances speed and safety

    Kia Motors’ compact K3 GT hatchback stays true to its GT moniker with its impressive driving experience, but sacrifices comfort in search of a sportier style. Across an 80 km (50 mile) drive from Namyangju to Paju in Gyeonggi on Nov. 22, the K3 GT zipped across a course that mostly covered highways.

    Its driving performance was a far cry from the original commuter version as the vehicle’s acceleration responded instantaneously thanks to its 1.6 liter turbocharged engine. The GT responded to even the slightest pressure on the pedal, zooming to 180 kilometers per hour (112 miles per hour) with ease. Along with fast acceleration, the K3 GT rumbled when accelerating as the car’s electronic sound generator (ESG) added to the real sound from its new tuned dual mufflers, similar to the ESG included in Kia’s sports sedan, the Stinger.

    Petrol heads will also appreciate the sporty D-cut steering wheel on the front-wheel drive, which produced accurate steering as the vehicle entered and exited corners and a natural feel when switching lanes.

    While the fast GT may please driving enthusiasts with its performance, it doesn’t provide for the most comfortable ride.

    At high speeds of 150 km per hour, the hatchback model produced some road and tire noise that soon became distracting. The sound from the ESG and the unwanted cacophony of warning beeps from its various safety features didn’t help with the situation either.

    The vehicle also comes with tubular seats, which emphasize its racing theme and hold the driver in place during quick acceleration, but feel quite stiff on the passenger’s side.

    The interior has a clean, simple look with red stitching on the front seats that accentuates the sporty aesthetic. But the car will likely tire passengers during long-hour drives due to its tough and hardy feel.

    The sporty vehicle, however, maintains a competitive edge in safety as it comes loaded with a variety of smart features including forward collision warning and lane keeping assist in all its trims.

    While the various beeps that come in a range of pitches may be obtrusive, the lane keeping and changing features worked perfectly during the drive, as the steering wheel shifted on its own to steady the vehicle and issued alerts whenever a car was nearby when switching lanes.

    As for its exterior, the GT is a familiar offshoot of the original K3. It retains much of the original front design, but adds a touch of flair with subtle red accents in its signature Kia tiger-nose grille and 18-inch alloy wheels with an option of Michelin summer tires.

    The vehicle also keeps in touch with the utilitarian side of the original model, marking a return to foldable back seats that provide spacious room for storage.

    The original K3 has sold 37,125 units in the domestic market until October this year, 63 percent more than during the same period last year. The GT, offered either as a sedan or a hatchback, adds a sporty edge to Kia’s compact lineup, competing with Hyundai Motor’s high-performance offerings, such as the Avante Sport and the hatchback i30 N Line.

    “The K3 GT incorporates a powerful engine and technology optimized for high-speed driving to strengthen the driving performance,” said Kwon Hyug-ho, head of domestic sales at Kia Motors.

    The K3 GT starts at 19.93 million won ($17,800) and the entry hatchback version at 22.24 million won, compared to the 15.71 million won entry version of the 2019 K3 model.

    The competitive pricing puts pressure on Hyundai’s Avante Sport, which starts at 19.64 million won and the i30 N Line at 23.79 million won.

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  • KFC Thailand benefits from transforming franchise model

    KFC Thailand benefits from transforming franchise model

    Fast-food restaurant chain KFC Thailand is on track to achieve double digit year-end sales growth since transforming itself into a 100-per-cent franchised model, exceeding business expectations.The largest restaurant chain in Thailand is also set to accomplish a record high of 75 new outlet openings this year, 39 per cent above target and pushing the total number of outlets in Thailand past 700, including 65 drive-through branches.

    GM for KFC, Yum Restaurants International (Thailand) Waewkanee Assoratgoon said Yum Thailand has successfully transformed itself into a 100-per cent franchisor business in only one year.

    “Our organisation is now in a good shape with an effective structure so that we can expect the most efficiency within the entire business operation.”

    KFC Thailand franchise operator Yrit secured the No 1 position and top-of-mind QSR brand as surveyed by Thai business magazinesMarketeer and Brandage, as well as picking up awards for social media penetration.

    Thailand is KFC’s eighth largest international market.

  • Troubled Mr. Pizza heads for Kosdaq delisting

    Troubled Mr. Pizza heads for Kosdaq delisting

    Troubled pizza company MP Group may soon be delisted from the Kosdaq after nine years on the exchange. Korea Exchange announced Monday that a committee on corporate evaluation agreed to delist the company, which operates pizza franchise Mr. Pizza, from the secondary board. Another committee, which is specifically responsible for Kosdaq listings, will reach a final decision by Dec. 24 on whether to delist MP Group or grant it time to its improve performance.

    Chances are high that the MP Group will face delisting by the end of this month. The company had already been given 12 months last October to address issues of concern, but was unable to turn its finances around.

    MP Group recorded 11.14 billion won ($10.07 million) in net losses last year, according to the Financial Supervisory Service (FSS). The situation only improved somewhat this year, with the company reporting 1.04 billion won of net losses in the first three quarters of 2018.

    At the height of its popularity, Mr. Pizza was Korea’s largest pizza chain, with around 433 franchisees in 2014. Though the Mr. Pizza brand started off in Japan, it was in Korea where it became a huge success, riding a wave in the domestic pizza market.

    Jung Woo-hyun, a former chairman, introduced the first Mr. Pizza store in Korea in 1990 and eventually bought the Japanese parent in 1996. By August 2009, MP Group was listed on the Kosdaq.

    The pizza company’s affairs took a dramatic turn for the worse in 2016 when Jung made headlines for a series of alleged offenses, ranging from the physical assault of a security guard to fair-trade violations.

    As accusations continued to surface of Jung and the MP Group’s gapjil, or abuse of power, consumers turned their backs on the franchise. The reaction took a toll on MP Group’s profits, and the number of Mr. Pizza stores quickly dropped.

    The biggest blow came last July when Jung was arrested for embezzlement and breach of trust.

  • Gaming gadget New Razer Phone 2 is launched

    Gaming gadget New Razer Phone 2 is launched

    Razer, a Singaporean gaming gadget company, unveiled the Razer Phone 2 – a smartphone specifically designed for gaming – on Friday in Seoul. Korea is the fourth-largest gaming market in the world with more than 28 million game users, according to the company.

    The Razer Phone 2 is equipped with a 5.7-inch display and offers a 120 Hz refresh rate, allowing users to enjoy mobile game with less delays and disconnections. The upgraded refresh rate helps the touch screen to react more precisely to user demands, according to the company.

    The screen is 50 percent larger than its previous version – the Razer Phone 1 – which launched last year.

    The Razer Phone 2 comes with a 400mAH battery which allows the phone to play games for 10 hours.

    Playing mobile games is not the only entertainment available on the Razer Phone 2. It is also optimized for watching videos.

    The company said the new phone includes Dolby Atmos technology in its dual speakers that are equipped on bezels both on the top and bottom of the devcie, providing a richer sound.

    In terms of camera, the Razer Phone 2 is equipped with a dual camera on the back – a wide-angle lens and telephoto lens – that offer 12 megapixels each. The front of the phone has an 8 megapixel camera.

    To optimize the display, Razer teamed up with popular games including PlayerUnknown’s Battlegrounds, Rival: Crimson x Chaos and Marvel’s Future Fight, among others.

    The Razer Phone 2 will go on sale on Dec. 4 in Korea in partnership with local distributors All Life Technology and CJ Hello.

    The phone sells for 990,000 won ($882.87). With subsidies from CJ Hello’s payment plan, the price can go down to as low as 599,000 won.

    “Razer was able to pull off a huge success last year with Razer Phone 1 by paving a new sector in the smartphone industry,” said Min-Liang Tan, CEO of Razer in a written statement Friday. “The new Razer Phone 2 will help us set a new standard in the gaming industry.”

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  • Central Premium Mall Vietnam plans to open next year

    Central Premium Mall Vietnam plans to open next year

    Ho Chi Minh City is getting a new shopping centre, Central Premium Mall, in District 8, next year. Set to open in the third quarter of next year, the six-storey mall spans 40,000sqm, and is expected to welcome more than 3 million visitors annually.

    The first and second levels will host 200 kiosks from fashion retailers, a supermarket and luxury cafes.

    The third level is for dining, with more than 30 restaurants, including China’s Melie Dimsum, America’s HolyCow, Korean BBQ Gangnam, together with sushi and buffet restaurants.

     

    The fourth and fifth floors are for entertainment with a children’s playground Kid World, spas, Mexican-style Ritacita Bar, Beer Club Vuvuzela, Bar Redbull and Bar Rocco, among others.

    A cinema will occupy the whole 4000sqm sixth floor.

    Project owner Quoc Cuong Gia Lai says the shopping centre will be managed by a reputable international company, whose identity has yet to be revealed.

    The mall has cost VND1 trillion (US$43 million) to build.

    Central Premium Mall occupies the lower levels of the Central Premium apartment complex currently under construction. A roof-topping ceremony was held recently and apartments are expected to be handed over to residents by the third quarter of next year. It will be managed by Savills Vietnam.

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  • Hyundai’s Genesis G70 named Motor Trend’s Car of the Year

    Hyundai’s Genesis G70 named Motor Trend’s Car of the Year

    Hyundai Motor’s luxury Genesis G70 sedan was selected as the Car of the Year by U.S. auto magazine Motor Trend, firmly establishing it as a legitimate alternative to BMW’s long-reigning 3 Series. The G70’s victory was proclaimed in Motor Trend’s January issue with the headline “A Star is Born.” The vehicle competed with 20 other models including the Audi A6, Mercedes-Benz CLS and Lexus ES.

    It is the first time a Korean car has won the award since the media outlet began the Car of the Year award in 1949. Last year, the winner was the Alfa Romeo Giulia, while in 2016, it was the Chevrolet Bolt EV.

    The magazine praised the rapid development that Hyundai Motor has achieved in its quality and brand awareness in such a short time, pointing out that the Korean brand first entered the U.S. market in 1985 selling a “Giugiaro-designed hatchback for the low, low price of $4,995.

    “Fast-forward to the present. How beyond belief is that the same cheap and cheerful automaker – Hyundai – not only has launched a luxury brand but has also built a better BMW 3 Series fighter right out the gate than the Japanese luxury brands have in numerous attempts?” the article read.

    The judging panel, made up of the magazine’s editors and engineering experts from top car brands, praised the sedan’s performance, particularly when equipped with a 3.3-liter engine. Its cousin, Kia Motors’ Stinger, which shares the same platform as the G70, missed the spot last year due to its lack of a sporty suspension.

    As an all-rounder, the Genesis G70 “pulls to infinity and beyond,” said Chris Theodore, a guest judge.

    Hyundai Motor expects its triumph to continue next year with the North American Car of the Year award, which will be announced at the North American International Auto Show in Detroit in January.

    “The Motor Trend’s Car of the Year award is expected to have positive effect in Genesis sales,” a Hyundai Motor spokesman said.

    The Genesis G70 was the first model to be released under Genesis after it was launched independently of the Hyundai brand. Other models – the G90 and G80 – were just partially revamped and renamed versions of existing models under Hyundai.

    The model ranked No. 1 in this year’s J.D. Power survey in quality, pushing aside long-running luxury brands like Porsche and BMW.

    The accolades didn’t translate to sales, however, as it continues to struggle in the U.S. market. The Genesis G70 sold 51 units in October in the United States.

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  • Factories, tractors and robots benefit from 5G in Korea

    Factories, tractors and robots benefit from 5G in Korea

    All three of Korea’s mobile carriers launched their 5G networks on Saturday, the first day of December, officially kicking off an era of the high-speed network. SK Telecom started transmissions from its Bundang network management center in Seongnam, Gyeonggi; KT from its Gwacheon network control center in Gyeonggi; and LG U+ from Magok Science Park in western Seoul. All of the 5G networks operate on a 3.5-gigahertz (GHz) frequency band.

    5G boasts a 20 times faster data transmission speed than the currently prevailing fourth-generation long-term evolution (LTE). Its competitive edge lies in ultra-wide bandwidth, ultra-low latency and ultra-fast connectivity. Data transmission speed of 5G is more than 20 gigabytes per second (Gbps), meaning a 2.5-gigabyte ultra high-definition video can be downloaded in just one second.

    The network can currently only be accessed by corporate clients, not individual users. Businesses can use the card-shaped mobile routers to pick up the 5G network and convert it into super-fast Wi-Fi.

    Individual subscribers are expected to be able to start using 5G from March, when smartphone devices supporting the new network will become available. Samsung Electronics is expected to unveil its Galaxy S10 smartphone as early as February and may come up with two different versions: one supporting LTE and one that works on 5G.

    SK Telecom’s first 5G customer was Myunghwa, a product quality assessment firm in Banwol Industrial Complex in Ansan, Gyeonggi. The company is using the network to process ultra-high definition photos of auto components taken from different perspectives as the products are being moved on a conveyer belt. The images are transmitted using the 5G mobile router to a cloud server, where a high-performance artificial intelligence interface can instantly tell whether a product is faulty.

    SK Telecom also began test operations of its 5G autopilot vehicles in Hwaseong and Siheung, both in Gyeonggi. The vehicles are able to exchange information about their status while on the road with a control center and traffic lights dozens of times per second.

    KT celebrated the launch of its 5G network by having a robot as its first subscriber. The robot, called Lota, will be guiding visitors to the Seoul Sky observatory at Lotte World Tower in Songpa District, eastern Seoul.

    “We chose Lota to show that 5G doesn’t simply mean a generational shift, but will become a platform that will innovate our overall lives and industry,” said KT in a statement.

    KT plans to prioritize 24 major cities nationwide as well as key public transportation routes and university areas, where traffic demand is expected to be high, for 5G installation in the near future.

    LG U+’s first corporate customer is LS Mtron, an industrial machine developer based in Anyang, Gyeonggi. The two companies have jointly developed a 5G remote-controlled tractor, the first in Korea. LG U+ said 5G-based remote-controlled technologies may minimize human engagement in risky working environments, such as the removal of mines and industrial waste disposal.

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  • FTC Korea approves convenience stores’ voluntary rules to curb competition

    FTC Korea approves convenience stores’ voluntary rules to curb competition

    South Korean convenience store operators have agreed not to engage in cut-throat competition in the latest move to better protect struggling franchisees. A key centerpiece of the voluntary deal calls for CU, GS25 and 7-Eleven and three other convenience store brands to decide “carefully” over whether to open a new convenience store near an area where a rival convenience store is already located.

    The deal said that convenience stores of rival brands should be at least 50 metres away from each other. Currently, convenience stores of the same brand should be located at least 250 metres away from each other to make sure that they do not compete against each other.

    The latest move came as South Korea has been struggling to protect franchisees in a country where chaebol, or family-controlled conglomerates, have dominated the economy for decades.

    “The voluntary regulation, if implemented in good faith, could help ease saturation and improve management conditions of franchisees of convenience stores,” Kim Sang-jo, chairman of the Fair Trade Commission, said in a signing ceremony of the voluntary deal in Seoul today.

    Last week, President Moon Jae-in instructed the antitrust chief to support a voluntary deal among South Korean convenience store operators so as to address the saturation of the market.

    Convenience stores have sprung up in commercial areas in Seoul and other major cities in recent years, driven by growth of single-member households.

    Last year, the number of convenience stores surpassed 40,000, a dramatic increase from 1989 when the first convenience store opened in eastern Seoul.

    Kim said the voluntary deal could prevent convenience store operators from recklessly opening new outlets in areas where there are already many convenience stores.

  • Samsung is still top smartphone producer

    Samsung is still top smartphone producer

    Samsung Electronics managed to retain its position as the No. 1 smartphone maker in the world in the third quarter, but it may have a fight on its hands in the fourth quarter as Apple is expected to lower prices and increase production, according to a recent report from TrendForce.

    The report said Samsung was the top smartphone vendor in the third quarter with quarterly shipments of 74.5 million units, or almost 20 percent of the market.

    “While Samsung grew its sales by releasing its flagship Galaxy Note 9 ahead of schedule, the device was not a significant upgrade from last year’s Note 8 and made limited contribution to the brand’s total volume in Q3,” said the report.

    The Galaxy J series, on the other hand, was still instrumental in sustaining the brand’s overall production, the report noted. Samsung has also been promoting the Galaxy A devices, emphasizing their improved cost-to-performance ratios and cameras since the beginning of the fourth quarter.

    In the fourth quarter, however, iPhone production is estimated to reach around 76 million units, which would see it surpass Huawei and compete with Samsung for the top position, the report noted. Samsung’s volume in the last quarter is estimated to reach around 75 million units, in line with the company’s target for the period.

    Huawei was the world’s second largest smartphone producer in the third quarter, beating Apple for the second consecutive quarter. The firm’s production volume stood at a new high of 55.5 million units. iPhone production for the third quarter totaled 47.1 million units.

    “Huawei’s in-house research and development capabilities and extensive product lines across all market segments have benefitted its expansions in overseas markets during the recent years,” the report said.

  • Biggest car rental company heading to Vietnam

    Biggest car rental company heading to Vietnam

    Vietnam is the first stop for Enterprise Rent-A-Car in Asia, after 85 locations in Europe and the Americas. The world’s largest car rental servicer, Enterprise Holdings, recently announced that its Enterprise Rent-A-Car service is now available in Vietnam. The move is part of Enterprise Holdings’ goal to expand its car rental services across the Asia Pacific region.

    Enterprise Rent-A-Car will operate in Vietnam through its Vietnamese franchise partner MP Logistics.

    Cuong Dang, general director of Enterprise Rent-A-Car Vietnam, said the company currently has 300 rental cars, from 5 to 47 seaters, available in Ho Chi Minh City. The service is scheduled to be expanded to Hanoi and central Da Nang City in the first quarter of 2019.

    Rent-A-Car’s initial strategy will be to grow a base of corporate customers, foreign employees of multinational companies with operations in Vietnam. The initial emphasis will be on long-term rentals with a chauffeur.

    Later, it will expand its services to include short-term, chauffeur-driven options, self-drive rentals and leisure hire at popular tourist destinations likes Da Nang.

    Cuong said he believes that there is great demand in Vietnam’s car rental market but inadequate supply, and that in the future, this market will thrive.

    There are two reasons Vietnam’s car rental market will grow, he said.

    First, FDI growth will be maintained for the next 10 years, which will attract an increasing number of foreign workers.

    Second, the middle class is seeing strong growth. The younger generation does not accord much priority to saving to buying luxurious cars and big homes, but tend to pay more attention to quality of life and experiences, and as such would be more willing to rent cars.

    However, Cuong noted that the Rent-A-Car model brought to Vietnam would take longer to recoup capital and profits than in the U.S.

    “The price of buying a car in Vietnam is twice that in the U.S., but the rental price is the same in both markets, so the business risk will be higher,” Cuong said.

    Todd Prister, regional director for the Enterprise Franchise Asia-Pacific said that the company is excited about the potential of Vietnam’s economy.

    “Vietnam not only has one of the highest growth rates in the world as well as attractive business markets, but also is a prominent destination in Southeast Asia. Combining these factors, Vietnam will be a brilliant opportunity for us,” said Todd.

    Enterprise is the largest car rental company in the U.S. and is the 13th largest private enterprise in the country.

    Todd Prister said Enterprise is also the largest car rental company in the world in terms of vehicles owned, employees and sales.

    The company is present in 85 countries, 10,000 locations, owns over two million vehicles and has an average annual turnover of about $22 billion.

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  • Marcelo Burlon Opens First Flagship Store in Singapore

    Marcelo Burlon Opens First Flagship Store in Singapore

    Italian fashion label Marcelo Burlon has launched a Singapore flagship store on Orchard Road. The Marcelo Burlon Singapore store – the brand’s first in Southesast Asia, will offer a comprehensive range of the brand’s most recent collections, as well as the latest collaborations with NBA and MLB. Exclusive T-shirts were released to celebrate the store’s opening.

    The venue’s interior design reflects the Patagonian roots of the popular designer, who was personally present to attend the launch.

     

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  • October retail sales tide in Hong Kong turns up

    October retail sales tide in Hong Kong turns up

    October retail sales in Hong Kong rose by 5.9 per cent year on year, more than double the pace of September, which was affected by Typhoon Mangkhut. A government spokesman indicated that growth in retail sales picked up somewhat in October after a deceleration in the preceding month, supported by the faster increase in visitor arrivals and continued income growth.

    The Census and Statistics Department (C&SD) estimated the total value of October Hong Kong retail sales at HK$39.7 billion.

    After netting out the effect of price changes over the same period, the volume of October retail sales in Hong Kong increased by 5.2 per cent.

    C&SD’s revised estimate of the growth in the value of retail sales in September was unchanged at 2.4 per cent, the lowest figure year to date.

    For the first 10 months of this year retail sales rose by 10.6 per cent year on year, while the volume (netting out inflation) rose by 9.1 per cent.

    The spokesman strong inbound tourism and favourable job and income conditions should continue to support the retail sector in the near term.

    “Yet, consumer sentiment could increasingly be affected by the external uncertainties and weaker asset markets.”

    By broad type of retail outlet (in descending order of the category’s impact on the overall figure) sales of jewellery, watches and valuable gifts increased by 3.3 per cent in October. This was followed by electrical goods and other consumer durable goods, not elsewhere classified (up 16.1 per cent); commodities in department stores (up 3.5 per cent); apparel (up 2.3 per cent); medicines and cosmetics (up14.9 per cent); other consumer goods, not elsewhere classified (up 12.7 per cent); motor vehicles and parts (up 13.6 per cent); fuels (up 10.3per cent); footwear and accessories (up 9.3 per cent); books, newspapers, stationery and gifts (up 5.8 per cent); furniture (up 0.8 per cent); Chinese drugs and herbs (up 0.6 per cent); and optical shops (up 3.2per cent).

    The only categories to record a decline in sales were commodities in supermarkets, down 0.9 per cent, and food, alcoholic drinks and tobacco, down 2 per cent.

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  • Restructuring continue benefits 7-Eleven Malaysia

    Restructuring continue benefits 7-Eleven Malaysia

    New store openings are maintaining a modest 7-Eleven Malaysia sales growth rate – but improved margins are driving solid profit improvement. The listed convenience store operator released its third-quarter results on Friday, which showed third-quarter sales growth of 1 per cent and year-to-date growth of 1.3 per cent. But net profit was up 4.1 per cent for the quarter and 13.3 per cent year to date.

    CEO Colin Harvey said net profit grew 27.6 per cent quarter on quarter.

    “However, this is only the first step in the right direction towards where the organisation should be, and there is scope for improvement. I am confident that our strategy roadmap focussed on strengthening the key areas of, assortment, supply chain, operational excellence, store base, and digitally enabling the organisation will bear fruit in terms of financial performance, and overall customer shopping experience.”

    He said the group’s net revenue of RM1.66 billion year to date was driven by growth in new stores and consumer promotion activity.

    Continued store expansion has taken the network to 2259 stores.

    7-Eleven Malaysia expects trading conditions for the next quarter to improve with the anticipated heightened consumer sentiment.

    “We expect to see further improvements in the next quarter by pursuing our core strategy pillars of operations excellence, cost management and commercial innovation,” the company said.

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  • Investors dominate sales of Vietnam’s high-end homes

    Investors dominate sales of Vietnam’s high-end homes

    Investors buy a high percentage of high-end residence purchases in Vietnam, while occupiers take most of the low-end ones. A recent report by real estate market research firm Savills Vietnam, Vietnam Residential Spotlight, says over 70 percent of grade A (high-end) residence buyers in Hanoi are investors. The ratio in Ho Chi Minh City is just as high at 65 percent, says the report, which used data for the 2013-2017 period.

    For the grade B (middle-end) segment in Hanoi, investors accounted for 40 percent of sales, occupiers, 55 percent, and the remaining 5 percent, speculators. The corresponding ratio in HCMC is 45 percent, 50 percent and 5 percent.

    The data indicates that high-end and middle-end residences have become main interests of investors in recent years. They evince almost no interest in grade C (low-end) residences where occupiers make up 85-90 percent of transactions.

    There has been a continuous downwards momentum in residential apartment supply between January and October this year, the Ho Chi Minh City Real Estate Association (HoREA) said in a recent report.

    During this period, total housing supply in the Ho Chi Minh City market fell 39.2 percent. The biggest decrease in supply was in the low-priced apartment segment, which was down 68 percent, while that of high-end apartments fell 9.6 percent and mid-range went down 37.5 percent.

    The association warned that the structure of real estate supply showed a serious disequilibrium in the market, with low priced apartments taking up only 19.3 percent of total supply while luxury apartments took up a third.

    This showed a mismatch between demand and supply, posing a risk to sustainable development and social welfare, it said.

    However, Savills forecasts that low-end residences will dominate HCMC’s supply in 2020 at 61 percent, while in Hanoi, the middle-end segment will lead the market, taking over half of the supply. At this time, Hanoi will have a higher high-end supply at 15 percent, compared to HCMC at 8 percent.

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