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Update news estate market
The Ministry of Construction has assigned its inspectorate to organize inspections of those projects valued at over VND100 billion, mainly invested by local authorities, state-owned enterprises and corporations in 2023.
When people lack information about planning and land use plans, especially projects under survey or preparation phases, it is easy for land brokers or traders to blow up land prices to seek profit.
The retail real estate market is displaying signs of optimism after quarantine restrictions were eased.
Prime Minister Pham Minh Chinh has assigned the Ministry of Finance (MOF) to study and design some kinds of tax related to the real estate market, including property tax, in order to stabilize the market and reduce speculation.
Vietnam's estate market has grown strongly in recent years, and will still be an attractive investment channel for domestic and foreign investors.
According to the Vietnam Real Estate Brokers Association, land prices have risen quickly, 10% a month on average. In some places, it has increased 2-3 times in just 1-2 months.
October saw the highest occupancy levels in Ha Noi and HCM City since the second quarter of the year.
Nguyen Thi Minh has been forced to reduce the rents for her two apartments in HCM City’s District 2 twice this year from US$1,300 a month each to $900 to keep her tenants.
It takes years for quite a few real estate projects in HCMC to complete the necessary procedures.
Large office space and improved connectivity will be in high demand in coming years, according to market researcher Jones Lang LaSalle (JLL).
Detailed regulations are needed to promote a healthy condotel market, which has been going off-track for years due to an unclear legal framework, experts have said.
Suspended ventures due to lack of administrative procedures are instigating a severe shortage of supply and sharp increase of prices of the property market in Ho Chi Minh City, as well as in outskirt areas.
Police in Ho Chi Minh City on September 18 arrested chairman and director of Alibaba real estate company for fraud.
Investor Pham Thi Trang of HCM City told Dau Tu (Investment) newspaper that she had bought 2,000sq.m of land in Long An Province's Moc Hoa District for around VND1 million (US$43.2) per sq.m.
In recent years, the concept of the condotel has dominated the real estate market in Vietnam, and generated a wave of interest in this type of real estate investment.
Due to lack of a legal framework, the condotel market remained tight through the first half of the year.
The Ministry of Construction's statistics on the total real estate inventory value is incorrect as the inventories of many property enterprises are not fully taken into account, according to the HCMC Real Estate Association (HoREA).
Many giant housing real-estate developers in HCM City are flocking to the hospitality segment by developing or distributing new projects in tourism areas.
From 2019 onwards, tenants in Hanoi’s office market will have even more options to consider, given the increasing volume of office supply to be introduced in both Grade A and B, according to CBRE’s quarterly report released on April 10.
Marc Townsend, Managing Director of CBRE Vietnam, talks about the performance of the residential market in 2015 and his forecasts for 2016.