Property

At the Real Estate Forum 2022 on October 28, with the theme “Supply of real estate in Ho Chi Minh City: Practical issues to be solved”, Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association (HoREA), said transparency in the market has improved with clear mechanisms and policies. However, safety and stability are still of concern due to the overlap between the Land Law 2013 and the Law on Housing 2014 and other legal documents.

The Ministry of Construction has held a conference appraising adjustments to the master plan for Hai Duong city in the northern province of the same name to 2040. The master plan aims to develop Hai Duong using new development trends in the context of international integration and globalization, exploit and bring into full play its potential and advantages in geographic location, culture, and human resources for rapid and sustainable development, turn it into a green, smart city, and reach the criteria for becoming a Class 1 urban area.

Real estate enterprises continued to grapple with a host of difficulties in the first nine months of the year, especially in investment procedures and accessing capital. Loan interest rates, foreign exchange rates, gasoline prices, and construction material prices have also all increased, leading to higher costs.

Figures from the Ho Chi Minh City Department of Construction show that in the first nine months of 2022 the city had 21 capital-funded housing projects with 11,600 dwellings sold, including 10,166 apartments, or 87.6 per cent of the total, and 1,434 low-rise houses, or 12.4 per cent. Of these, 9,305 were high-end apartments, or 80.2 per cent.

South-central Ninh Thuan province is becoming the focus of special attention in the local real estate market. With outstanding advantages such as competitive prices and complete infrastructure, and with tourism being a spearhead economic sector, Ninh Thuan’s real estate market is forecasted to experience breakthrough growth.

The Politburo’s promulgation of Resolution No. 15-NQ/TW on directions and tasks for developing Hanoi to 2030 and vision to 2045 and the Hanoi People’s Committee approving the Red River urban zoning planning project are new steps to promote real estate development in the east of Vietnam’s capital.