Real Estate

As per the Housing Law that came into effect on August 1, 2023, condominium mini-apartments will be eligible for a certificate of title (pink book) if they meet the specified requirements.

The Ministry of Construction has proposed a hefty fine of up to 1 billion VND for real estate developers who fail to disclose information about their mortgaged projects. This proposal aims to enhance transparency and protect consumers in the real estate market.

Several urban and resort projects in Khanh Hoa Province are undergoing land price adjustments. Among these, several projects have been identified by authorities as having violations.

By 2035, Ho Chi Minh City requires over 34 billion USD to complete its ambitious metro project, encompassing 6 lines and a total length of 183 kilometers. This substantial investment underscores the city's commitment to transforming its transportation landscape and creating a seamless, efficient, and world-class metro system for its residents and visitors alike.

The plight of vacant commercial spaces in Ho Chi Minh City's central district persists. Despite significant rent reductions offered by landlords, tenants remain elusive. This trend underscores the evolving dynamics of the city's business landscape, prompting a reevaluation of strategies to revitalize these dormant spaces.

The People's Committee of Quang Nam Province has recently directed the Department of Planning and Investment to take the lead in coordinating with relevant units to research and consider the proposal of Nam Hoi An Development Limited Company regarding the policy on developing an additional golf course within the Nam Hoi An Resort project.

Mr. Nguyen Viet Tao, representing the Bitexco Group, proposed to the National Assembly's supervisory delegation that the Group be considered for developing social housing at the urban area project in the south of Vanh Dai 3 Road (commercially known as The Manor Central Park), with Bitexco as the investor.

The real estate market is experiencing a positive shift in supply. However, experts advise prospective homebuyers to be cautious and not overextend themselves financially if their monthly income is less than 30 million VND. Taking on a significant mortgage with a lower income can lead to financial strain and difficulty keeping up with bank loan interest payments. It is crucial to make informed decisions and ensure your financial stability when considering purchasing a property.

In the first half of 2024, foreign buyers snapped up over 1,000 apartments in Hanoi, with purchasers hailing from a diverse range of countries and territories. This included buyers from China, South Korea, Hong Kong, Taiwan, Singapore, the USA, the UK, and more. Notably, Chinese buyers accounted for the majority of these sales, purchasing over 400 apartments.

Within a single day, two industrial parks in the provinces of Ha Nam and Bac Giang received investment approval for Western Pacific Group, founded by Ms. Pham Thi Bich Hue.