real estate market
Latest News about real estate market
Hoang Cong Khuong has lived in Poland since 2002, and he and his wife run a small business there.
While other land markets are hot, Da Nang remains very quiet, prompting many investors from Hanoi and HCM City to collect land plots in advantageous positions in "bottom fishing" deals.
The plan to turn some suburban districts in HCM City into inner districts is only on paper but it has triggered a new land fever in localities.
Investors pourin money into real estate seeking profits from land price increases have not attached much importance to the surplus value from production and business, which seriously affects the economy, experts say.
A lot of luxury villas have arisen in forested areas as part of the second-home trend, but many have been left idle.
The long process of project approval from competent government agencies and the serious impact of COVID-19 have helped mergers and acquisitions in real estate sector become more active.
After a period of working hard and making large fortunes, many businesspeople have chosen to leave the market and get back to nature where they can lead quiet lives.
Real estate speculators have been exploiting urban expansion plans to push up prices beyond the real value, according to the Ministry of Construction (MOC).
Very few apartments priced at below VND25 million per square meter in HCM City exist, according to Ministry of Construction (MOC).
The Ministry of Construction believes the domestic real estate market has overcome the most difficult period due to positive developments in the market as well as the whole economy in the fourth quarter of 2020.
Vietnam has more real estate investment opportunities than other more mature Asia-Pacific markets, though certain difficulties remain.
The Ministry of Construction (MOC) has joined forces with a number of ministries and branches to draft a government resolution on solutions to encourage the development of low-cost commercial housing projects.
While the HCM City market has remained quiet since the Covid-19 outbreak, land prices have been increasing in the neighboring markets of Dong Nai, Long An and Binh Duong.
Ngo Viet Nam Son, a respected architect, said Thu Duc City needs methodical planning to avoid becoming just a huge real estate project.
The news about the establishment of Thu Duc City has pushed up land and house prices in the eastern part of HCM City.
With the economy been hit hard by Covid-19, the HCM City real estate sector has been facing difficulties. However, there are still bright spots.
HCM City is expanding in the eastern and western parts of the city with more high-quality living spaces being built.
According to the Ministry of Construction (MOC), the purchase and sale of condotels must observe the laws on real estate because condotels are considered a kind of construction work.