Real Estate

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.

On July 13, 2024, the government issued a new regulation on compensation, support, and resettlement for state land acquisition. This comprehensive regulation outlines the rights and entitlements of those impacted by eminent domain, ensuring fair and just treatment. The regulation is a testament to the government's commitment to upholding the rights of its citizens while also facilitating necessary development projects. It strikes a delicate balance between progress and the well-being of its people, setting a precedent for equitable land acquisition processes.

This is the opinion expressed by Nguyen Van Danh, Vice Chairman of the People's Committee of Binh Duong Province, at a scientific workshop providing feedback on the draft master plan for Ho Chi Minh City for the period 2021 - 2030, with a vision towards 2050, recently organized by the Ho Chi Minh City People's Committee.

After experiencing numerous ups and downs in the market, the condotel segment seems to still lack a clear "identity" with the passing of the Real Estate Business Law 2023 and the Land Law 2024.