Real Estate

The Ho Chi Minh City Department of Natural Resources and Environment recently proposed a reduction in residential land allowance for households in Thu Duc City, District 7, District 12, and Binh Tan. The proposal, shared at a press conference on socio-economic matters, suggests a maximum residential land allowance of 160 square meters for the aforementioned urban areas and 250 square meters for households in the outlying districts.

"Regarding the economic and social situation, Mr. Dao Quang Duong, Deputy Head of the Land Economy Department of the Ho Chi Minh City Department of Natural Resources and Environment, asserted at a press conference on August 8 that the proposed land price adjustments are not abrupt increases but are, in fact, aligned with the city's realistic circumstances. He addressed concerns about the perceived sudden spike in land prices, assuring that the adjustments are appropriate given the current context of Ho Chi Minh City."

The Ho Chi Minh City Department of Construction has proposed a new initiative to prevent large gatherings and prioritize the safety of its citizens. This proactive approach demonstrates the department's commitment to putting the well-being of the community first and foremost.

On the upcoming launch date of August 10, 2024, the esteemed real estate developer, Hoang Quan Corporation, proudly introduces the HQC Tan Huong project to the market. With the theme, "Igniting a Prosperous Rhythm," this project is a pioneering endeavor, offering the first high-quality social housing in Chau Thanh District, Tien Giang Province.

The race is on to meet the anticipated surge in demand for property as the Long Thanh airport takes flight. With a projected completion date coinciding with the airport's operation, these real estate projects are poised to capture a potential market upswing in the 2025-2026 timeframe.

The latest decision by Dong Nai Province's People's Committee to amend their housing development plan for the period of 2021-2025 is a significant one. The province has decided to increase the number of social housing units from 2,500 to an impressive 10,000 by the year 2025. This bold move showcases the province's commitment to addressing the housing needs of its residents and developing a more inclusive and sustainable community.

Recently, the Department of Planning and Investment of Bac Giang province announced that Taseco Land is the sole investor registered to undertake Project Zone 2, belonging to the urban area in Tien Phong commune, Yen Dung district, and Dong Son ward, Bac Giang city, in Bac Giang province.

On the morning of August 9, Deputy Prime Minister Tran Hong Ha chaired a meeting with leaders of several central ministries, agencies of the National Assembly, and localities to discuss the plan to implement the Politburo's instructions on resolving difficulties and obstacles related to projects and land issues in inspection, examination, and court verdicts in several provinces and cities.

Prime Minister directs the Ministry of Natural Resources and Environment to expeditiously finalize and issue guiding documents for the implementation of the Land Law of 2024. Additionally, the Ministry is instructed to promptly finalize and submit for issuance the decree amending and supplementing Decree No. 08/2022/ND-CP, which elaborates on several articles of the Law on Environmental Protection, within August 2024.

The Ministry of Natural Resources and Environment has confirmed that the 2024 Land Law permits the current land price framework, as issued by provincial People's Committees, to remain in effect until December 31, 2025. This means that local authorities can continue to utilize the 'K' coefficient to address specific and necessary cases, ensuring a flexible and tailored approach to land pricing during this transitional period.