Property

The steel price has increased 40 per cent this year compared to 2020, pushing up construction costs by 10 per cent. Many contractors have delayed construction while waiting for prices to fall, to avoid financial damage.

According to industry experts, luxury apartments will continue to be a segment of potential in Vietnam’s real estate market. Given the impact of Covid-19, living spaces with low apartment density, focusing on the safety of residents, have become greatly appreciated. Luxury real estate also has sustainable added value. In terms of reselling, properties with commercial centers and shophouses will fare better than other products. Luxury apartments in key locations with privacy and full amenities are also favored by Vietnam’s middle class.

According to the Da Nang city planning project in the 2021-2030 period, with a vision to 2050, the city will be built into a compact city in order to save land and infrastructure.

The Dat Xanh Group has been granted ownership of a 10-ha land fund in southern Binh Duong province that is expected to be used for projects that will provide the market with about 8,000 products over the next three years.

The Thanh Hoa Provincial People’s Committee has issued Decision No. 2387/QD-UBND on the establishment of the Ha Long I Industrial Cluster in the north-central province, with total investment of VND500 billion ($21.7 million).

Sales and absorption at lowest levels amid market difficulties.