Vientiane property prices jump up to 50%

Vientiane river bank_Arno Maierbrugger
Vientiane’s Mekong river bank is up for development (Photo © Arno Maierbrugger)

Laos’ capital Vientiane saw real estate prices soar in 2012 by 15 per cent in the city center and up to 50 per cent along the Mekong river bank, according to a report in the Vientiane Times.

The surge was bolstered by foreign-funded development projects and growing confidence in the economy. Laos boasted one of the highest economic growth rates last year at 8 per cent as per calculations by the Asian Development Bank.

For example, land along the Mekong River bank was going for $3,000 per square metre, up from $2,000 in 2011.

The government in 2012 approved a number of  development projects, mainly for Chinese and Vietnamese firms, and also allowed foreigners who invest more than $500,000 to own 800 square meters of residential and office land, which has further boosted property prices.

Another advantage for investors is that property taxation is moderate in Laos. Rental income from leases of houses, lands and other assets is taxed at a flat rate of 15 per cent. Capital gains derived from selling real property are considered as ordinary income and taxed at progressive rates from 5 to 25 per cent.

 



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[caption id="attachment_6902" align="alignleft" width="300"] Vientiane's Mekong river bank is up for development (Photo © Arno Maierbrugger)[/caption] Laos' capital Vientiane saw real estate prices soar in 2012 by 15 per cent in the city center and up to 50 per cent along the Mekong river bank, according to a report in the Vientiane Times. The surge was bolstered by foreign-funded development projects and growing confidence in the economy. Laos boasted one of the highest economic growth rates last year at 8 per cent as per calculations by the Asian Development Bank. For example, land along the Mekong River bank was going...

Vientiane river bank_Arno Maierbrugger
Vientiane’s Mekong river bank is up for development (Photo © Arno Maierbrugger)

Laos’ capital Vientiane saw real estate prices soar in 2012 by 15 per cent in the city center and up to 50 per cent along the Mekong river bank, according to a report in the Vientiane Times.

The surge was bolstered by foreign-funded development projects and growing confidence in the economy. Laos boasted one of the highest economic growth rates last year at 8 per cent as per calculations by the Asian Development Bank.

For example, land along the Mekong River bank was going for $3,000 per square metre, up from $2,000 in 2011.

The government in 2012 approved a number of  development projects, mainly for Chinese and Vietnamese firms, and also allowed foreigners who invest more than $500,000 to own 800 square meters of residential and office land, which has further boosted property prices.

Another advantage for investors is that property taxation is moderate in Laos. Rental income from leases of houses, lands and other assets is taxed at a flat rate of 15 per cent. Capital gains derived from selling real property are considered as ordinary income and taxed at progressive rates from 5 to 25 per cent.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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