real estate market
Ten years ago, wealthy people said ‘no’ to properties located far from the center of cities, but more are now moving from the crowded inner city to the suburbs, where they can enjoy fresh air and less noise.
The long fourth Covid-19 outbreak and social distancing regulations have posed great challenges to the office leasing market.
Despite the pandemic impacting the resort, hotel and rental market, the housing and apartment segment still has projects for sale at record prices.
Some real estate developers engage in dishonest practices: One apartment is sold to many people. Developers receive deposits and take reservations though the legal status is unclear.
The COVID-19 pandemic has caused a slowdown in the property market but many experts believe this is only temporary and are pinning their hopes on a rebound once the virus is under control.
Real estate, in the eyes of investors, is the most profitable and least risky business field.
Prime Minister Pham Minh Chinh has emphasized that the national housing strategy needs to include reasonable social housing development, and the tax regime on land speculators should be adjusted.
A reasonable taxation policy is expected to help settle several problems, including excessive investment in high-end apartment and villa projects, and speculation buying.
Imposing tax on the leasing of apartments and business premises is not a new idea, but the method of taxation remains controversial.
Many apartment buildings in Hanoi have been left idle for many years, even while many people seek accommodations.
Though land fever has eased, prices are still high. The apartments in projects in advantageous positions are being offered at sky-high prices of VND300-400 million per square meter.
Land prices recently soared by VND30-50 million per square meter in some places, but the number of successful transactions was modest.
The play of children in Hoa Binh was interrupted recently by luxury cars passing by driven by wealthy people who were seeking to buy land in their home village.
Minister of Construction Nguyen Thanh Nghi said the ministry will change the policies related to the development of affordable housing by adopting a new mindset.
Land prices in the HCM City suburban district of Can Gio have been soaring following the news that Can Gio will become an inner city district, or a city in the future. The local authorities have prohibited civil servants from acting as land brokers.