Property

As Vietnam’s real estate market deals with the effect of the fourth outbreak of Covid-19, the apartment segment remains attractive to buyers, especially in Hanoi.

The Son La Provincial People’s Committee has approved estimates for the construction of the 240-ha Van Ho Industrial Park in Van Ho district. The industrial park is oriented to develop a variety of industries of large scale using modern and environmentally-oriented technology, which is expected to create a breakthrough in food and agriculture processing and preservation in the northern mountainous province.

The Prime Minister has sent an Official Letter to the Minister of Natural Resources and Environment, the Minister of Planning and Investment, and the Chairmen of People’s Committees of cities and provinces on completing the formulation of land allocation and zoning plans within provincial planning. The ministers and localities must send associated documents, dossiers, and plans to relevant authorities prior to September 15.

Many people have purchased houses or land online during social distancing. There are many who believe, however, that it is foolish to do so, as there is a large gap between online advertising and reality.

The real estate market has remained active while many other production and business activities have stalled due to the Covid-19 pandemic. According to analysts, one of the reasons is that real estate is considered a good and safe investment channel.

A draft report on national land use planning for the 2021-2030 period and vision to 2050, which is being consulted on by the Ministry of Natural Resources and Environment, forecasts changes in land use by 2030. Trends in the 2021-2030 period mainly relate to shifts from agricultural land to non-agricultural land and from agricultural land to industrial and service use, urban areas, and infrastructure use. Total residential land by 2030 is expected to increase by 150-180,000 hectares.