Property

The demand for new land matching the criteria for resort developments has resulted in demand in the “landcation” (“land” and “vacation”) market increasing strongly, even during the pandemic. Land prices in famous coastal tourist destinations such as Vung Tau, Nha Trang, and Da Nang have peaked.

The Ba Ria-Vung Tau Provincial People’s Committee has decided to withdraw its approval for the construction of the Rach Ba Lake Park project.

Chairman of the Hanoi People’s Committee Chu Ngoc Anh has signed a Decision on adjustments to the capital’s overall construction planning to 2030 and vision to 2050.

Investors are returning to Vietnam’s resort real estate market to take advantage of opportunities as supply increases and especially on Phu Quoc Island, which is preparing to pilot welcoming international visitors from November 20.

Though real estate supply and demand in Ho Chi Minh City and Hanoi have both fallen, prices have nonetheless increased year-on-year. One reason for this is cash flow changing from other sectors, such as stocks, to the real estate sector.

Deputy Prime Minister Vu Duc Dam has asked the Ba Ria-Vung Tau Provincial People’s Committee to adjust the planning for Con Dao Island to 2045, with its 16 islands on 7,678 ha to develop as an international modern special economic and tourism zone.