Property

Ho Chi Minh City has proposed to the Prime Minister the decentralization of approval to adjust its general planning to ensure synchronization, harmony, and suitability in each stage of development. The city has also proposed adjusting the Law on Urban Planning in order to shorten and simplify related procedures.

The Hanoi Department of Construction has announced the receipt of registration documents for buying and renting social housing in Dong Anh district and the AZ Thang Long social housing and commercial service complex project in Hoai Duc district. Eligible buyers can submit registration documents until February 28.

The Nghe An Provincial People’s Committee has approved a zoning plan for an urban area in the southwest of Vinh, the capital of the northern province. The land area of more than 490 ha belongs to the communes of Hung Thinh, Hung My, and Hung Phuc in Hung Nguyen district. The population post-formation is expected to be some 32,000.

Deputy Chairman of the Da Nang City People’s Committee Le Quang Nam has approved a list of land plots where auctions of land use rights will be held in the first phase this year. Auctions will be conducted for the land use rights of 200 residential land plots and 17 other approved land plots.

According to Mr. Nguyen Van Dinh, Chairman of the Real Estate Brokers Association, public investment will be promoted this year and create a stronger driving force for economic development, to the benefit of the real estate market. Transaction numbers will grow, but prices for residential real estate will remain under pressure because of low supply, rising land prices, and inflation.

The Mekong Delta’s Ca Mau province will build nearly 23,000 new houses by 2025, with the area per capita to reach 23 sq m in the 2021-2025 period. The total floor space will be more than 3 million sq m and total capital VND19 trillion ($841 million). The province is now calling for investment in 69 commercial housing projects.