PROMOTING VIETNAMESE REAL ESTATE MARKET
Under the chairmanship of the Vietnam National Real Estate Association (VnREA) and the United States National Association of Realtors (NAR), the International Real Estate Conference (IREC 2018) took place over five days from September 5 to 9, 2018, in Hanoi. This was the fourth conference held by NAR, the first in Vietnam.
REAL ESTATE MARKET GETS MORE STABLE
The Vietnamese real estate market is entering the last quarter of 2018. Remarking on market performance from the beginning of the year, an official from the Ministry of Construction said that the market had relatively stable growth, abundant supply and more practical product valuation. Hence, the actual demand also picks up significantly. The Ministry said that a potential boom in land demand may be seen in areas with good cooperation, but the market will be generally stable.
VIETNAM – ATTRACTIVE DESTINATION FOR ESTATE INVESTORS
Vietnam will become an attractive destination for real estate investment and business because of the high demand for housing, industrial park infrastructure, shopping malls, and tourism property.
BIEN HOA PROPERTY MARKET BOOMING
The property market in Bien Hoa City in Dong Nai Province has been booming in the last few months. Prices of properties located near HCM City have increased by 10–20 per cent since Tet (Lunar New Year), while in the city centre they have increased by 10–25 per cent on average, though in some places they have gone up by 60 per cent.
LAW AND PRACTICE ON LAND ACCESS OF VIETNAMESE BUSINESSES
The Ministry of Justice is carrying out the Prime Minister's Directive 01/CT-TTg on rectifying and strengthening land management and building land information system. To achieve this objective, the ministry has conducted a review for revision of legal regulations on land access. This matter has a great impact on business rights and business performance and land access is a problematic area and receives a lot of recommendations from investors.
EXPERTS SEE PROPERTY MARKET UNTURN IN RUN-UP TO TET
The HCM City real estate market will be positive from now until the Lunar New Year in early 2019, according to HCM City Real Estate Association (HoREA). The year-end is usually the time when Vietnamese buy property.
FOREIGN CASH KEEPS FLOWING INTO REAL ESTATE MARKET
Foreign investors, mostly from Asia, continue making serious investments in Vietnam’s real estate sector. Japanese Hinokiya and Vietnamese TWG are moving ahead with a plan to set up a joint venture to develop real estate projects in Vietnam after signing a cooperation agreement on June 22.
HO CHI MINH CITY ASKS FOR REGULATIONS ON OFFICETELS, CONDOTELS
Ho Chi Minh City People’s Committee has sent a document to the Government Office to ask Prime Minister Nguyen Xuan Phuc to issue regulations on officetel, condotel and resort management.
