Property

The Dong Nai Provincial People’s Council has issued a decision to cancel 12 residential projects in Long Thanh district that were included on a list of land acquisitions but not implemented for three years. Most of the projects are in the southern province’s Long Thanh town and Long An, Long Phuoc, Phuoc Binh, and Tam An communes on a total area of some 220 hectares.

The Minister of Finance has issued Official Letter No. 3849 to People’s Committees in centrally-run cities and also provinces on the prevention of tax losses in business activities and transfer activities in real estate. The Ministry of Finance is now reviewing legal documents relating to real estate for possible amendments and supplements, to ensure consistency with other legal documents.

According to the General Department of Vietnam Customs, total tax collections by the customs sector reached more than VND135.3 trillion ($5.9 billion) in the first four months of this year, representing 38.45 per cent of the annual estimate. To promote digital transformation, the customs sector is boosting the reform of administrative procedures, increasing the application of information technology, and enhancing its competitiveness.

Despite being viewed as an attractive area in Vietnam’s real estate market and posting average growth of 25-30 per cent a year, real estate along the northern coast still faces many barriers to fulfilling its potential. According to analysts, suitable policies are needed to help the area develop.

According to the Ministry of Construction (MoC), Vietnam’s real estate market has shown signs of recovery and sound development in the first quarter of this year. There have been more investors and also more real estate projects on sale or planning for sales. Interest in the market and real estate transactions are continually rising and in most market segments.

With HCMCs Tan Phu district on the rise and the “Hub & Spoke” and “Hybrid” working styles beginning to take hold, the opening of Officehous at the end of this year couldn’t come at a better time.