Latest News about property market
Ho Chi Minh City’s office market has started to feel the effects of the COVID-19 pandemic, with grade A buildings impacted more than grade B, experts have said.
The slowdown in 2019 and the arrival of the COVID-19 pandemic in the opening months of 2020 saw Vietnam’s property market hit “double trouble”, but experts have said the possibility of a quick recovery remains.
Experts and businesses in Ho Chi Minh City’s real estate sector have mapped out recovery scenarios after the COVID-19 pandemic passes, with the local property market having experienced a marked slowdown.
Cutting costs and restructuring products are what many real estate firms are doing to deal with difficulties caused by COVID-19.
It takes years for quite a few real estate projects in HCMC to complete the necessary procedures.
Experts believe the State's issuance of ownership certificates for non-residential real estate projects will solve existing difficulties in Vietnam’s real estate market.
The challenges that property developers face in HCM City were discussed at a meeting between the People’s Committee, relevant departments and developers last week.
Property industry insiders said the State Bank of Vietnam’s decision to tighten credit would mean pain in the short term for developers but help the sector develop sustainably over the long term.
Local property experts have forecast that the domestic real estate market will recover this year.
Real estate remained the second biggest magnet for FDI in 2019, following processing – manufacturing, as it attracted $3.88 billion FDI, equivalent to 10.2 percent of the total registered.
Vietnam's real estate market will not be short of capital next year but will still face many challenges from policies and administrative procedures, experts said at the annual Vietnam Real Estate Forum.
Many localities have raised their land prices by up to 70%, while on the national scale the Government is expected to issue a new price framework, driving up prices by 30%.
The Ministry of Construction (MoC) has released its first quarterly report on the domestic real estate market.
Despite facing difficulties and challenges, the Vietnamese real estate market is developing stably, positively, and professionally.
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.
Phu My Hung Development Corporation has mobilised VND800 billion ($34.78 million) for real estate projects from a "secret" foreign investor through bond sales.
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.
Real estate enterprises in Ho Chi Minh City are waiting for new measures to help them deal with difficulties related to policies and credit so as to grow more stably and sustainably.