Property

Vietnam’s real estate market is experiencing a logjam in liquidity. Analysts have said that as credit and corporate bonds are shrinking, real estate prices may fall by up to 30 per cent. However, the Chairman of the Vietnam Association of Realtors (VARS) remains optimistic that the real estate market still holds substantial potential for development and can grow at an average annual rate of 15 per cent.

In the context of rapid population growth and overloaded infrastructure, Ho Chi Minh City’s planning to 2040 and vision to 2060 includes building four new urban areas - Hiep Phuoc Port Urban Area, Northwest Town, Binh Quoi - Thanh Da Urban Area, and Can Gio Beach Tourism Urban Area.

Vietnam’s logistics sector has been developing strongly, leading to high demand for logistics real estate. Timely solutions are needed, however, as supply is limited. According to a report on the emerging market logistics index, published by Agility, Vietnam currently ranks 11th among emerging countries and 4th in ASEAN.

The Hai Duong Provincial People’s Committee has issued Decision No. 2093/QD-UBND approving additions to land use plans in districts, towns, and cities in 2022. Eighty-three projects with a total area of nearly 282 ha have been added.

A number of problems relating to land management have presented difficulties for many businesses, especially State-owned enterprises (SOEs). To remove these difficulties, the Ho Chi Minh City Investment and Trade Promotion Center (ITPC), in cooperation with the city’s Department of Natural Resources and Environment, held a dialogue on August 9 between businesses, industry, and the government.

Resort real estate on Phu Quoc Island is quite diverse, and includes the first casino for Vietnamese citizens, the largest safari park in Southeast Asia, and the world’s longest sea-crossing cable car. The market is still to develop sustainably, however. The island city should not only be a tourist destination but should also have a marine economic center and become a new financial center in the region.