Property

Real estate enterprises continued to grapple with a host of difficulties in the first nine months of the year, especially in investment procedures and accessing capital. Loan interest rates, foreign exchange rates, gasoline prices, and construction material prices have also all increased, leading to higher costs.

Figures from the Ho Chi Minh City Department of Construction show that in the first nine months of 2022 the city had 21 capital-funded housing projects with 11,600 dwellings sold, including 10,166 apartments, or 87.6 per cent of the total, and 1,434 low-rise houses, or 12.4 per cent. Of these, 9,305 were high-end apartments, or 80.2 per cent.

South-central Ninh Thuan province is becoming the focus of special attention in the local real estate market. With outstanding advantages such as competitive prices and complete infrastructure, and with tourism being a spearhead economic sector, Ninh Thuan’s real estate market is forecasted to experience breakthrough growth.

The Politburo’s promulgation of Resolution No. 15-NQ/TW on directions and tasks for developing Hanoi to 2030 and vision to 2045 and the Hanoi People’s Committee approving the Red River urban zoning planning project are new steps to promote real estate development in the east of Vietnam’s capital.

Dr. Alex Pham, who holds a Ph.D. in Property Economics, is a Lecturer at Western Sydney University, and is General Director of FINA, said that one of the main reasons for losses of tax revenue in real estate transactions in Vietnam is a lack of transparency. He suggested it could learn from models in neighboring counties such as Thailand, Malaysia, and Indonesia.

The Thanh Hoa Provincial People’s Committee has approved a detailed master plan to develop the Hai Tien resort and urban complex in Hoang Phu commune, Hoang Hoa district. The complex will sit on some 395 ha and house 22,500 people, up from the current 2,300. The permanent population is expected to increase by about 17,700 people, while tourist numbers will rise to 2,500.