The Government's latest real estate legislation went into effect on March 11 aiming to reinvigorate the sluggish realty market, which has been mired in a severe imbalance of supply and demand.

Investors from Taiwan (China) are particularly keen on Viet Nam’s industrial, office and retail real estate.

Despite the Government’s efforts to remove challenges facing the real estate market, it won’t prosper until the end of next year, experts have warned.

Vietnam is one of the top five destinations chosen by Singapore's super-rich (UHNWI) for real estate investment, along with Australia, India, Hong Kong and China, according to The Wealth Report 2023, released worldwide by Knight Frank company.

In the first two months of the year, 1,895 real estate units left the market, according to the General Statistics Office (GSO).

Vietnam is among the top five destinations selected by Ultra High Net Worth Individuals (UHNWI) in Singapore for their real estate investment plans, according to the Wealth Report 2023 released by Knight Frank.

Sellers cannot sell products and take back their investment capital; many people can't buy because of limited financial capability; and the state has failed to collect tax and land-use fees. Such is the current state of the property market.

Deputy Minister of Construction Nguyen Van Sinh told VietNamNet that the VND110 trillion credit package is awaiting the government’s decision, and that the Ministry of Construction (MOC) has not received any report about the stopping of the package.

The Vietnamese real estate market has remained attractive to foreign investors and investment funds despite difficulties countering domestic firms, according to insiders.

The property market is facing many complaints from developers. In one case, the developer has completed real estate procedures but is still waiting for a license. The developer is worried as project implementation is nearing the deadline.

The policy of taxing second homes should be introduced at an appropriate point in time with a carefully-studied roadmap and regime.

Foreign capital is pouring swiftly into the real estate market despite the depressing internal environment.

A shortage of affordable housing products, a high number of outstanding loans, and many bankrupt real estate firms are some of the problems mentioned at the recent national conference on the Vietnamese real estate market.

The Vietnamese government and banks have developed a strategy to improve the credit status of Vietnamese real estate businesses by offering a $5 billion loan package.

Offering more credit to the real estate sector has been likened to pumping a well-inflated balloon.

With the Government’s drastic measures to address problems related to legal bottlenecks, lack of capital access, and challenges in corporate bonds, the real estate market is expected to recover from the third quarter, experts have said.

As more than $52 billion is due to banks and bondholders from real estate corporations, not to mention the requirement for additional loans, experts say a purge in the real estate market is unavoidable.

With an average monthly income of VND7.5 million, Vietnamese need to save money for 50 years to be able to buy an apartment with two bedrooms.

The credit growth rate of the banking system in the last 10 years has slowed down compared with the previous decade, hovering around 14 percent per annum in 2012-2021 instead of 30 percent in 2001-2010.

While rents for affordable apartments remain steady in HCM City, they have fallen sharply and continue to do so in the case of high-end apartments.