Property

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.

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.