Property

Along with 2,497 land acquisition projects with an area totaling more than 8,500 ha, the Hanoi People’s Council has also approved 717 works and projects to change the land use purpose of rice-growing land in 2022, with an area of more than 1,200 ha.

Four “golden” land lots in the residential area of the Thu Thiem new urban area in Ho Chi Minh City were put up for auction on December 10, with a total area of more than 30,000 sq m and a total starting price of nearly VND5.3 trillion ($23 million).

The development potential of real estate products set on hills and mountainsides with outstanding views has remained considerable over recent times. Apartments and villas in such locations have become a hot investment channel in Vietnam and able to attract investors into the future.

Among the land being withdrawn in 15 projects in Ho Chi Minh City next year is 16 ha for the T3 passenger terminal at Tan Son Nhat International Airport and a number of other transport infrastructure projects.

Central Quang Ngai province has not met its plan on collecting land use fees in recent years due to many factors but especially Covid-19. It aims to collect land use fees totaling more than VND3.3 trillion ($143.85 million) next year.

Real estate prices in Vietnam as well as the US, Hong Kong (China), South Korea, Switzerland, China, and elsewhere are increasing at an unprecedented rate in the face of inflationary pressure. Vietnam’s real estate market is also sensitive and volatile due to economic and infrastructure issues.