Property

To ensure land use serves socio-economic development, the Thai Nguyen Provincial People’s Committee has proposed adjusting and supplementing a list of 312 land acquisition projects, including the conversion of rice cultivation land use in 2021.

The positive signs in pandemic control and the widespread vaccination campaign in Vietnam have made investors more prepared to invest in its real estate market. According to experts, the country’s real estate sector is still considered one of the two safest investment channels, joining securities.

The Con Son Tourist Area project (called the TMS Can Tho Resort) has been revoked by the Can Tho City People’s Committee because implementation has been too slow. Invested in by the TMS Group, the project was to be on 75 ha with total investment of more than VND1,570 billion ($69 million).

New land registration offices are to be established in 59 localities around Vietnam. Administrative procedures in localities where offices have already been established have been cut from 62 to 41, so that land use right transactions can be conducted faster.

In order to promote its development, northern Hoa Binh province will auction about 1,443 ha of land in the 2021-2025 period, including land plots in 19 urban area, residential, and tourist projects.

Covid-19 has weakened most real estate businesses around Vietnam. Transaction numbers have slumped, products cannot be sold, and sales revenue is down. A lack of cash flow also puts many investors at risk. The real estate business association has suggested the State Bank of Vietnam recommend that commercial banks consider cutting loan interest rates by 2 per cent per annum.