86.3% OF TENANTS IN IZS COME INTO OPERATION
The industrial zones (IZs) in Vinh Phuc province welcomed six new projects into operation in August 2023, bringing the total number of operational projects in the IZs to 403 (330 FDI projects and 73 DDI projects), which accounted for 86.3% of the total projects.
TWO MINISTRIES TO LAUNCH EXCHANGE FOR LAND USE RIGHTS
The establishment of a land use right exchange is vital for the centralised management of the realty sector. The statement was made by Deputy Minister of Natural Resources and Environment Lê Minh Ngân at a governmental meeting on Monday.
TWO MINISTRIES TO LAUNCH EXCHANGE FOR LAND USE RIGHTS
What ministries had to do now to pave the way for the platform, Hà said, is to define its operational mechanics and its responsibilities towards businesses, set the criteria for their admission to the platform, and establish a mechanism under which data among platforms can be transferred.
REAL ESTATE GRAPPLES WITH NEW FOCUS
Real estate insiders are predicting a strong end to 2023 in terms of recovery in various segments, and launches are already underway, but this will occur in tandem with government moves to adjust currently tight regulations on real estate lending.
PRESSURE ON EXCHANGE RATE TAKES ON NEW LOOK
According to economist Le Xuan Nghia, one of the biggest risks to the Vietnamese economy is that lending rates remain high despite the State Bank of Vietnam’s (SBV) recent efforts to reduce operating interest rates. “The real interest rate is still at 10 per cent, which is too high, but this is because the operator is still worried about exchange rate fluctuations,” said Dr. Nghia.
REAL ESTATE POLICY REPAIR ENCOURAGED
More effective solutions are being called for to pave the way for new supply and access to buy property. The government on August 7 issued Resolution No.124/NQ-CP, which requires related ministries and sectors to accelerate the establishment of trading real estate centres to help make the market more transparent.
SINGAPOREAN DEVELOPERS RETAIN THRONE IN REAL ESTATE
Top Singaporean groups are continuing to make their mark in Vietnam’s real estate arena, from luxury apartments to industrial complexes. Vietnam is one of the top five destinations chosen by Singapore’s ultra-high-net-worth individuals to invest in real estate, behind Australia, India, Hong Kong, and the Chinese mainland, according to the Foreign Investment Agency.
REMOVING BARRIERS FOR FOREIGNERS TO OWN PROPERTIES IN VIETNAM
The Vietnam Association of Realtors (VARS) has proposed allowing foreigners to purchase and own houses, including private houses and apartments, in Vietnam during the time they work in the country. VARS said it is necessary to specify the minimum remaining working time at the time of purchase, and supplement conditions when foreigners purchase a certain number of properties, to prevent speculation.
