Property

According to the Ministry of Construction (MoC), Vietnam’s real estate market has shown signs of recovery and sound development in the first quarter of this year. There have been more investors and also more real estate projects on sale or planning for sales. Interest in the market and real estate transactions are continually rising and in most market segments.

With HCMCs Tan Phu district on the rise and the “Hub & Spoke” and “Hybrid” working styles beginning to take hold, the opening of Officehous at the end of this year couldn’t come at a better time.

The Dong Nai Provincial People’s Committee has approved the task of planning the expanded Phuoc Khanh resettlement area in Nhon Trach district, which has an area of more than 42 ha and a population of 6,000-7,000 people. The southern province has set a target of, by 2025, the per capita housing area standing at 27 sq m and the total housing area increasing by 13.3 million sq m. It needs more than VND120.5 trillion ($5.24 billion) to achieve its goals.

Inconsistencies in policies and delays in the implementation of ownership certificate procedures are causing frustration among customers and difficulties for investors and have stalled the development of the tourism real estate market. Economists therefore suggest that Vietnam promptly complete the legal framework to fully exploit and develop this type of real estate.

Ho Chi Minh City will kick-off construction this month of four new projects in social housing, worker accommodation, and upgrades to old apartment blocks, bringing more than 3,000 units on to the market. Under planning, the city is to develop 2.5 million sq m of social housing in the 2021-2025 period, or 35,000 apartments.

Under a draft decree from the Ministry of Natural Resources and Environment (MoNRE) amending and supplementing a number of decrees detailing the implementation of the Land Law, it is proposed that a Land Fund Development Organization operate under a business model. The Organization would provide public products and services with 100 per cent of charter capital held by the government.