Property

Investors are paying greater attention to the real estate market in north-central Nghe An province as it has the potential to develop resort tourism. With fast growth in the past few years, along with mechanisms and policies to attract investment, the province’s real estate market is expected to be remain attractive for investors in the time to come.

The condotel market was severely affected by the Covid-19 pandemic after exploding in 2016-2018, which led to supply exceeding demand. Many localities have ended the licensing of new condotel projects. According to Mr. Nguyen Van Dinh, General Secretary of the Vietnam Association of Real Estate Brokers (VAREB), the suspension or tightening of control over condotel projects is necessary for the market.

South-central Binh Dinh province is to have 61 industrial clusters under its industrial cluster development plan to 2025 and vision to 2035. In 2022 and subsequent years, the province will build 20 new industrial clusters on a total area of more than 620 ha.

The Mekong Delta’s Long An province currently has 28 industrial parks and 32 industrial clusters. With a strategic location as a gateway connecting the Delta and the southern region, a shared border with three districts in Ho Chi Minh City, and synchronized investment infrastructure and attractive investment policies, Long An ranks second in attracting large FDI capital sources and is expected to top the list this year. It has increasingly proven its position as an attractive destination for domestic and foreign investors, with industrial real estate to benefit.

To implement the provisions of the Law on Housing, the Ministry of Construction is urging localities to urgently build and approve the housing development program for the 2021-2030 period. There are currently a number of localities that have reversed the process by not approving the housing development plan before the housing development program.

According to a plan to adjust the general planning for Hai Duong city in northern Hai Duong province by 2040, the city will be developed with a focus on riverside urban areas, while two more goals have been added: becoming a green, smart city, and a city ready to respond to climate change. Its transport network will be developed towards increasing inter-regional connectivity, so that it becomes an important traffic hub in the Red River Delta.