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Update news HCM City real estate market
HCM City Mayor Phan Van Mai has said that municipal authorities have identified the problems of the real estate market and that Vice Mayor Bui Xuan Cuong has been assigned to head a team to work day and night to revitalize the market.
The condominium supply in HCM City will reach a record low in 2023 with only about 9,000 new units from 200 projects, experts said.
HCM City authorities said the city would continue this month to focus on addressing problems facing real estate firms as part of efforts to have the sector recover by the end of the year.
Vietnamese landlords should consider shifting from their traditional fixed-rent model to base rents and revenue sharing like in many other countries to spread the risk, experts have suggested.
Real estate companies in HCM City are experiencing difficulties as the market is seeing a sharp downtrend.
HCM City's retail market to see large quantity of floor area by end of 2018, according to Colliers report.