Property

According to the Management Board of the Land Fund Development Center in central Quang Binh province, total proceeds from the auction of land use rights throughout the province in the first half of 2022 reached nearly VND3.9 trillion ($167.76 million), up 104.5 per cent year-on-year.

The Real Estate Association of Hai Phong City has said that compared to other cities, its real estate market remains quite attractive and has a lot of potential for further development. There are some areas, however, that are growing too much. The northern port city is making efforts to clean up the local market and impose strong sanctions on violations.

Batdongsan.com.vn has reported that the real estate consumer sentiment index (CSS) in Vietnam fell 7 points in the second half of 2022 compared to the first half of the year, from 47 to 40. Consumer optimism fell the most in regard to rising real estate prices in the future, down by 22 points from 57 to 35.

On July 22, the Lac Duong District People’s Committee forwarded Report No. 104 to the Lam Dong Provincial People’s Committee requesting appraisal and approval of tasks and cost estimates for the Da Sar - Da Nhim eco-tourism and luxury resort project in the central highlands’ province. The resort is to be built on an area of 467.56 hectares.

The revised Land Law will be discussed by the National Assembly (NA) in its upcoming October and May sessions and approved in the October 2023 session. The draft will introduce regulations on land prices according to market principles and a shift from administrative-heavy management methods to the synchronous implementation of economic, planning, and administrative tools to regulate land relations.

The rental retail segment is quite active thanks to the expansion of several international brands in the fashion, sports, and food service industries. According to the General Statistic Office, total retail and service revenue in the first half of 2022 reached $117 billion, up 27.3 per cent over the same period last year.