Property

According to Ho Chi Minh City People’s Committee Chairman Phan Van Mai, the city believes that houses and land that are suitable should be auctioned to generate revenue. The city’s Department of Natural Resources and Environment and Department of Construction are working together on a review of houses and land to be auctioned.

The Binh Dinh Provincial People’s Committee has issued a Directive on strengthening tax management of the real estate business. Information on real estate transactions will be published on the south-central province’s Electronic Communications Portal to easily monitor, manage, and prevent violations.

Deputy Prime Minister Le Van Thanh has allowed the Bac Giang Provincial People’s Committee to change the use purpose of 72 ha of rice land in the northern province’s Hiep Hoa district to non-agricultural land to build the JUTECH Industrial Complex.

Many observers have noted that despite there being significant demand and strong growth momentum, Vietnam’s residential real estate market has not been able to develop healthily and sustainably. It still faces challenges from complex legal procedures, lack of land funds and investment capital, supply-demand mismatches, and rapidly increasing sales prices.

The urban real estate segment in Phan Thiet city, south-central Binh Thuan province, became increasingly sought-after by investors in the first half of this year. The local tourism industry is growing, which means that demand for property in the center of Phan Thiet will also increase sharply. However, supply is limited, with only a few projects implemented over the last few years ago and few on the horizon.

Of the many matters in Ho Chi Minh City that need to be resolved in the second half of the year, city leaders have committed to quickly addressing urban and real estate issues. Specifically, the city will focus on removing difficulties and obstacles facing 118 real estate projects and completing the plan for capital and land use in the 2021-2025 period.