Property

Savills Vietnam and the YSL Group have signed an agreement on the Nam Binh Xuyen Green Park project in northern Vinh Phuc province. The industrial park project has an area of 295 ha and will come into operation in the second quarter of 2023. It is expected to attract investors in high value-added fields such as electronic components and data centers, bringing a smart and modern ecosystem.

The Bac Giang Provincial People’s Committee has decided to establish the Yen Lu Industrial Park, on an area of 377 ha. The investor is the Capella Land JSC, with total investment of nearly VND2.7 trillion ($117.9 million). Bac Giang has eight industrial parks for manufacturing and processing electronic components.

Information on the sale of houses, land plots, and apartments in December increased 7 per cent compared to November, while information on buying and selling was down 3 per cent. In Hanoi and Ho Chi Minh City, new supply and apartment transactions in 2021 were the lowest for five years. However, Cushman and Wakefield Vietnam has forecast that the apartment market in the two cities will be vibrant again this year.

The Hanoi Department of Natural Resources and Environment conducted auctions of land use rights during 2021 that collected VND10.8 trillion ($477.19 million), or 85 per cent of the plan. Land use fee collections stood at VND11.05 trillion ($485.01 million), or 53.4 per cent of the plan.

Many people rushed to buy real estate in Hanoi as soon as social distancing measures were eased, especially apartments in suburbs and newly-planned areas. The market is heating up daily, but while the number of transactions continually increases there is a shortage of new apartments, especially those handed over, and prices heading ever upwards offer homebuyers fewer choices.

There are currently 474 old apartment buildings in Ho Chi Minh City in need of renovation, of which 237 Grade-D (Dangerous) buildings cannot be renovated and must be demolished. The city plans to demolish 14 Grade-D apartments this year and build new blocks.