Property

The Soc Trang Provincial People’s Council has issued Resolution No. 44 on the task of planning the construction of subdivisions at the Song Hau Industrial Park in the Mekong Delta province’s Ke Sach district. It will be a multi-sector industrial park on a total area of 300 ha.

The Hanoi People’s Council has approved a housing development program for the 2021-2030 period, under which it needs nearly 1,900 ha of land and VND880 trillion ($37.5 billion).

The Chairman of the Hai Phong City People’s Committee has requested the urgent implementation of a project to strengthen land management and build a land database throughout the city, with completion before 2025.

The Ministry of Construction has commented on planning to expand the Yen My II Industrial Park in northern Hung Yen province on an area of more than 313 ha. The master plan must ensure land is available for the development of housing, service facilities, and public utilities for employees working at the IP.

According to the Vietnam Association of Realtors (VARS), the country’s real estate market is slowing down and any “land fever” has dissipated. House prices are forecast to remain under upwards pressure, however, as inflation, high demand, and low supply significantly push up costs.

According to the State Bank of Vietnam (SBV), as of May 31, outstanding credit for real estate stood at VND2.33 quadrillion ($99 billion), an increase of 12.31 per cent compared to the end of last year. Most credit went to owner-occupiers.