Property

The Office of the Government released a conclusion from Deputy Prime Minister Le Van Thanh at a meeting on developing a draft decree regulating sea encroachment. The conclusion emphasized paying due regard to feasibility when determining land use fees, and land rents, while ensuring there is no loss to the State budget and that measures are not contrary to laws and regulations.

The Van Don District People’s Committee in the northern province of Quang Ninh will adjust policies for many residential investment projects within the medium-term public investment plan for the 2021-2025 period. It suggested adjusting planning for existing residential projects, approved new projects in 2021, and added a medium-term public investment portfolio for the 2021-2025 period.

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.