Ministry inspects real estate projects in Dong Nai
HCMC – The Ministry of Natural Resources and Environment on November 23 announced its upcoming inspections of 10 businesses that are developing real estate projects in Dong Nai Province. The ministry will look into compliance with laws and regulations on natural resources and the environment at
High lending rates dampen housing market
HCMC – Increasing interest rates are forcing homebuyers to make difficult decisions, including selling their homes to pay off their mortgages. Interest rates on consumer loans have increased by two to four percentage points against early this year to 12-13%, bringing many borrowers to their knees.
Bureaucratic hurdles continue to block housing projects
HCMC – Work on 18 social housing projects in HCMC is moving at a snail’s pace as paperwork roadblocks remain. Of the total, eight have got off the ground this year. Among them are a dormitory in Thu Đuc City’s Linh Trung II Export Processing Zone that will house around 1,000 workers with 360 units
Obstacles plaguing property development expected to be removed
HCMC – Prime Minister Pham Minh Chinh has formed a working group that will adopt measures to remove difficulties plaguing property projects in HCMC, Hanoi and other municipalities. The working group will be led by Minister of Construction Nguyen Thanh Nghi. Deputy Governor of the State Bank of
HCMC handles obstacles to aging apartment buildings
HCMC – The HCMC Department of Construction will team up with relevant departments and agencies to remove hindrances the old apartment buildings in the city relating to house rent calculation, temporary residence arrangement, compensation for rehabilitation and calling for investment. According to
Is it time for REITs?
Real Estate Investment Trusts (REIT) were established in Vietnam’s assets legal system in 2012. However, questions remain behind their unpopularity among investors in the domestic market. Real estate investment has recently stalled as credit growth limits have reduced banks’ loan access.
Home prices edge up in Q3
HCMC – The third quarter of this year saw prices of detached homes and condos growing across the country’s urban centers, particularly in Hanoi and HCMC. The average condo price in HCMC between July and September was VND66.7 million per square meter, up 1% over the second quarter, according to
Industrial real estate sector maintains growth momentum
HCMC – The growth prospect of the country’s industrial real estate market is bright, with ample new supply in the third quarter of 2022. The real estate market saw a substantial increase in supply between July and September due to the introduction of many new projects, according to the Housing and
Construction Ministry orders review of aging apartment buildings
HCMC – The Ministry of Construction has told local authorities to review aging apartment buildings and quickly upgrade and repair deteriorating ones as soon as possible. The ministry also asked provinces and cities to allocate funds for apartment repair and upgrade projects and direct the
NovaGroup, Sokimex join hands to develop urban area
HCMC – NovaGroup and Sokimex Investment Group have signed a deal to develop a 115-hectare urban area in the Mekong Delta province of Dong Thap. The two sides expect to complete legal procedures for the Blue Dragon project in the first quarter of next year and start work on the project in the next
Central bank says real estate loans restricted to ensure safety for banks
HCMC – Vietnam’s central bank governor has said real estate loans are being restricted to protect commercial banks and control inflation. Speaking at a Q&A session of the National Assembly today, November 3, Nguyen Thi Hong, governor of the State Bank of Vietnam (SBV), said that at a time when
Ba Ria-Vung Tau to have 8,300 more social homes in 2025
HCMC – Ba Ria-Vung Tau Province will build an additional 8,300 social homes by 2025 due to the soaring demand, heard a meeting recently chaired by the provincial government. The province has a mere nine social housing projects with a total of 1,550 units, mainly for public officials and civil
