The real estate prices in city neighborhoods have decreased, causing big losses to investors.

Prof Dang Hung Vo said Vietnam is taking a step forward with the policy that the lives of people whose land is taken back by the state to make room for investment and development projects must be equal or better than they were before.

Having been dealt many blows, real estate firms have changed their business strategies and scaled down operations.

Prime Minister Pham Minh Chinh, at a conference on the real estate market held recently, affirmed that Vietnam will not tighten real estate credit in an unreasonable or rigid way.

Minister of Construction (MOC) Nguyen Thanh Nghi said real estate prices continue to rise. Very few affordable housing products exist in Hanoi and HCM City.

People may be reluctant to buy apartments if the Ministry of Construction’s (MOC) proposal on setting a cap on apartment ownership term at 50-70 years is approved. Instead, they will seek to buy houses on land plots.

As of early 2020, Vietnam had 335 industrial zones, of which 260 were operational with an occupancy rate of 75.7 percent.

Tran Van Tung, a real estate broker, has not closed any sale over the last three months, but still has to pay for travel, phone calls and ads.

HCM City saw improvement in supply in the first half of the year, with apartment prices in the city and surrounding areas increasing.

Vietnam jumped four places to rank 56th globally, according to the Global Real Estate Transparency Index by JLL and LaSalle Investment Management, amid improving building standards across Asia.

Indochina Kajima Development Company, a joint venture from Indochina Capital and Kajima Corporation, has recently launched Core5 Vietnam (www.c5ip.vn).

A number of realtors have reduced investments because of both legal problems and cash flow depletion, depriving people of opportunities to own accommodations, but also threatening economic recovery in post-Covid period.

The draft circular amending several articles of Circular 39 prescribing lending transactions of credit institutions and/or foreign bank branches has raised concern about the congestion of capital flow into the real estate sector and high inflation.

Hundreds of million-dollar seaside villas in Da Nang, the “capital” of resort property, have been idle for over two years.

While real estate firms complain that they cannot access bank loans, bankers say that they are still providing loans as usual.

Mr. Andy Han Suk Jung has officially joined Filmore Real Estate Development Corporation (Filmore Development) as an investor, a member of the Board of Directors and the Chief Executive Officer (CEO).

The National Assembly’s Economics Committee has given its opinion about the land-use rights auction at the Thu Thiem new urban area in HCM City, assessing positive and negative impacts of the auction on socio-economic development.

The boost in sales and the slowdown of the land bank expansion are expected to help  land and house prices decrease in the remaining quarters of 2022, according to VNDirect Research.

The Government has submitted to the National Assembly a report about the implementation of the 2021 socio-economic development plan and the deployment of the 2022 plan.

For high-end large-scale projects and developers with projects that need to borrow capital, HCM City People’s Committee believes that it’s necessary to strengthen supervision over the granting of credit.