Property

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.

Analysts remain optimistic about the opportunities in Vietnam’s real estate market as the pandemic lingers. The factors behind customers selecting a property are changing, however, and they are now more interested in location, sustainable profitability, legal transparency, and other matters.

The revised Land Law drafted by the Ministry of Natural Resources and Environment (MoNRE) will be submitted to the government before January 10, 2022. The revised law will promote land resources as an important internal resource for socio-economic development goals associated with environmental protection, which will create a foundation for Vietnam to become a developed country by 2045.

Under planning to 2025, the west of Hanoi will become an intellectual center with high technology. With the expansion of traffic routes, high-end real estate products in the area will increase property value for investors, with many real estate giants already taking an interest.

The exploitation of underground space has been studied by Ho Chi Minh City for more than ten years, with certain locations identified for construction planning. The exploitation plan is being accelerated along with the completion of Metro Line No. 1.