Business News

[10-08-2015] It has been more than a month since Vietnam’s Law on Real Estate Business came into effect. Investors and their legal advisers had been eagerly anticipating this law, as it sees Vietnam move towards a more transparent legal framework for the real estate sector.

[03-08-2015] The country's property market attracted US$1.69 billion in foreign direct investment (FDI) for 15 projects in the first seven months of 2015, according to the Foreign Investment Agency. This figure accounted for 19.3 per cent of the total FDI capital of $6.92 billion.

[30-07-2015] The real estate market, especially the high-end segment, has seen a revival and is likely to develop strongly from here thanks to the amendments to the Housing Law that permits foreigners and overseas Vietnamese to buy housing since July 1st, experts have said.

[25-07-2015] From July 1, foreign invested enterprises are allowed to re-lease their rented properties, and can acquire and own a completed building for their own use, provided that they did not develop it themselves.

[23-07-2015] Construction work on a hi-tech industrial park (IP) in the southern Dong Nai Province's Long Thanh District will begin this year. This is the first of its kind in the province. Chairman of the provincial People's Committee Dinh Quoc Thai said the park's establishment had complied with provincial development strategies to lure hi-tech and supportive projects to the locality.

[23-07-2015] Many housing developers are circumventing the law to profit from the national real-estate bailout programme, said vice-chairman of HCM City Real Estate Association, Nguyen Van Duc. The programme was set up to provide homes for low-income earners, but there is evidence that many people with considerable assets are fraudulently taking advantage of the scheme.

[19-07-2015] The pick-up of the property market has triggered bubble fears, but State management agencies said the market would be closely watched to prevent it from happening again. Construction Minister Trinh Dinh Dung recently said the market recovery, reflected in the rising number of successful transactions and soaring prices, was not the result of speculation.

[10-07-2015] Two long-awaited amended laws on housing and real estate, effective from July 1 and expected to have a significant impact on the property market, may not be as effective. The two new laws were introduced amid the recovery of the property market starting from the end of last year, after seven years remaining frozen, with amendments to drive the market back on track. Still, market participants are awaiting further detailed instructions.