Property

Although many real estate projects in Ho Chi Minh City are stagnant due to legal issues or the impact of Covid-19, selling prices continue to head upwards. Over the past year, apartment prices have increased 27 per cent and land prices 42 per cent, or three times higher than in neighboring provinces.

The Hai Duong Provincial People’s Committee has decided to establish two new industrial clusters, including Tu Cuong industrial cluster on an area of 41.5 ha, and Tu Cuong - Chi Lang Bac industrial cluster on 75 ha. Tu Cuong - Chi Lang Bac is an ecological, green, clean, and synchronous industrial cluster in terms of technical infrastructure and meets environmental standards.

After reviewing an appraisal from the Provincial Land Price Appraisal Council, the Khanh Hoa Provincial People’s Committee has determined that due to adjusted land use fees and land rentals, the total additional amount the investor of The Lotus Cam Ranh project must pay is VND354 billion ($15.5 million).

A review of documents issued for the implementation of the 2013 Land Law reveal many inadequacies, obstacles, and overlaps that need to be addressed. The Ministry of Natural Resources and Environment has therefore developed a draft Decree amending and supplementing a number of Decrees regulating the implementation of the law.

Can Tho city’s housing development plan for the 2021-2025 period sets a target of having more than 5.3 million sq m of new housing by 2025, with a per capita housing area of 25.5 sq m. The Mekong Delta city will set aside 2,375 ha of land and invest nearly VND49 trillion ($2.14 billion) in the plan.

At the “Land Law - Housing Law - Law on Real Estate Business, for housing development and the real estate market” conference discussing amendments, analysts said that there are still many obstacles and inadequacies in these laws that will make it difficult for the real estate market to recover from Covid-19. Analysts suggested that there be solutions introduced to overcome this situation in the near future to develop Vietnam’s real estate market.