Property

Many retail tenants, including famous brands such as Starbucks and The Coffee House, were forced to end rental leases owing to the pandemic. The retail real estate for lease market is unlikely to recover by the end of the year, despite social distancing being eased and production restored.

Vietnamese consumers are not used to living in a residence that allows them to work and relax and be close to nature and that represents a spiritual space. They are humble and do not want to show off. Demand for luxury real estate in the country is therefore only growing slowly.

Demand among the rich and super-rich in Vietnam to buy branded residences is increasing, especially amid Covid-19. But supply is still scarce, with almost no projects being completed to date. Experts believe prices will increase into the future.

Hanoi is expected to see the fastest recovery in real estate transactions and supply in the country, possibly by the end of October, while Ho Chi Minh City may see something similar in November and Da Nang in December. Transactions and supply are also likely to be active soon in localities such as Quang Ninh, Hai Phong, Bac Giang, and elsewhere.

Hanoi has failed to pay adequate attention to the vast area along the Red River. It has become time for the city to use the potential the river possesses and make it a symbol of Hanoi.

Central Thua Thien-Hue province's Department of Construction is working on the planning of a residential project in the north of Hue city's An Hoa ward with a total planning area of 185.21 ha and a population of about 18,000 people.