Property

The Hanoi People’s Committee has issued Decision No. 65/QD-UBND approving the “Establishment of 2-5 new industrial zones in the 2021-2025 period” project. It will cement the tasks required for developing the industrial infrastructure network and also call for enterprises to invest in industrial zones in Hanoi.

The Property Auction Service Center in south-central Binh Dinh province is holding an auction of land use rights for a land project within the Nhon Hoi Economic Zone in the provincial capital Quy Nhon. The land is divided into 250 plots totaling more than 3 ha. Participating investors must meet conditions regarding financial capacity and loan capital.

Demand for mid-range real estate around Vietnam is forecast to continue to increase sharply, opening up opportunities for it to become the most-dominant segment. Rising standards of living also require that investors develop more mid-range housing.

The government has issued Decree No. 02/2022/ND-CP detailing a number of articles and clauses in the Law on Real Estate Business that will come into effect on March 1, including types of contracts in the field and conditions that individuals trading real estate must meet.

According to a CBRE report, the total supply of apartments in the center of Ho Chi Minh City during 2021 fell sharply compared to previous years, standing at 13,000. The lowest supply is seen in landed housing. High demand has pushed up the price of villas and houses in the city center.

The housing development program to 2030 in south-central Phu Yen province sets a target of, by 2025, the total housing area increasing by 10.3 million sq m. To achieve this goal, the province will set aside nearly 800 ha of land and seek over VND77 trillion ($3.3 billion) in capital.