REAL ESTATE BOOMS IN HCM CITY’S EAST AS INNOVATION CITY TAKES SHAPE
The prices of some existing apartments on Đồng Văn Cống Street and Hà Nội Highway in District 2 have increased by nearly VNĐ300-400 million (US$12,944-17,259) each since early 2020.
PROPERTY PRICES TO BOTTOM BY MID-2021
“Housing prices will begin to plummet by the end of this year and bottom out by mid-2021 when the [COVID-19] pandemic has impacted almost every sector, especially the housing market,” Tran Khanh Quang, general director of Viet An Hoa Company, said.
FOREIGNERS PURCHASED ABOUT 16,000 REAL ESTATES IN VIETNAM
Foreigners have bought some 16,000 housing properties across the country since they were allowed to do so in 2015, according to the Ho Chi Minh City Real Estate Association (HoREA).
CONDOTEL MARKET FACES GLOOMY PROSPECTS
Statistics from the HCM City Real Estate Association (HoREA) showed the country now has some 82,900 condotels with a total investment of VND100 trillion (US$4.3 billion), mostly located in localities with strong tourism markets like Ha Noi, HCM City, Da Nang, Thanh Hoa, Binh Dinh, Khanh Hoa, Binh Thuan and Ba Ria - Vung Tau.
INCREASINGLY ATTRACTIVE INVESTMENT DESTINATION
With the effort to promote the image of an attractive, open investment environment, Vinh Phuc Industrial Parks (IPs) have become a destination chosen by many domestic and foreign businesses for the post- Covid-19 pandemic period.
NEW POLICIES EXPECTED TO BOOST REAL ESTATE MARKET
The policy innovations of the Government to remove difficulties for the economy are expected to open up opportunities and incentives for businesses operating in many different fields, including real estate. These are important support policies coming just in time to create a big push for the real estate market and other related businesses to recover after the COVID-19 pandemic.
VIETNAM PROPERTY MARKET INCREASINGLY ATTRACTIVE TO FOREIGN CAPITAL
Vietnam has for the first time been named a “Semi-Transparent” market in the 2020 Global Real Estate Transparency Index (GRETI) by Jones Lang LaSalle (JLL) thanks to the progress in its largest markets, HCM City and Ha Noi. In this year’s biennial GRETI, Vietnam is ranked in 56th position.
FOCUSING ON TECHNOLOGY TRANSFER IN ATTRACTING NEW WAVE OF FDI CAPITAL
As Vietnam is attracting high-quality foreign inflows, domestic firms now have an even greater opportunity to draw technology transfer to improve added value in its manufacturing industry.
