Over 500 realty firms exit market in January-May
HCMC – More than 500 real estate businesses had pulled out of the market in the year to May, up 30.4% over the same period last year, data from the Foreign Investment Agency at the Ministry of Planning and Investment showed. The number of new market entrants also dropped 61.4% compared to the same
Around 100 projects eligible for VND120-trillion credit package
HCMC – Around 100 projects have been found eligible for soft loans in the VND120-trillion credit package since it was rolled out one month ago. Speaking at a National Assembly discussion yesterday of the nation’s socio-economic performance this year, Minister of Construction Nguyen Thanh Nghi
VND120-trillion package not for real estate rescue: Deputy PM
HCMC – The VND120-trillion credit package is not intended to rescue the struggling real estate sector but to achieve the target of building at least one million social homes by 2030, Deputy Prime Minister Tran Hong Ha said at a meeting held yesterday, May 24. The package is designed to support
Potential for suburban real estate investment
Real estate in urban areas near Ho Chi Minh City, such as Dong Nai, Long An, and Binh Duong, is considered to be "affordable" and convenient to connect.
HCMC seeks to convert certain non-agricultural land into residential land
HCMC – Some 684 hectares of non-agricultural land could be converted into residential land, according to the HCMC Department of Natural Resources and Environment’s 2021-25 land use plan just submitted to the municipal People’s Committee. The department plans to convert nearly 9,900 hectares of
Can the real estate market recover in the last 6 months of the year?
Capital and legal issues are the two biggest obstacles in the real estate market. When these two knots are removed strongly, the market will have the prospect of a gradual recovery in the last 6 months of the year.
HCMC builds roadmap for issuing apartment ownership certificates
HCMC – The HCMC Department of Natural Resources has mapped out a plan for issuing ownership certificates to 81,000 apartments, reported the Vietnam News Agency. According to a report sent to the city government, the department divides commercial housing projects into six groups. Of which, group 1
'Da Nang City Vietnam has many opportunities to develop high-class real estate'
Tourism, infrastructure, and economic breakthrough create advantages for Da Nang City, Vietnam, to develop high-end projects, according to a Vietnam Real Estate Association representative.
The investor of the Aqua City project lost 136 billion VND
Aqua City Co., Ltd - an enterprise owned by Novaland with 70% of capital - last year reported a loss of 136 billion dong, while in the same period announced a profit of more than 730 billion dong.
Lending rate of 4.8% to be offered for social housing
HCMC – The prime minister has issued Decision 486 authorizing the Vietnam Bank for Social Policies (VBSP) to offer a preferential lending rate of 4.8% per year to loans for buying and lease purchase of social homes and building or repairing houses. The bank is requested to take full responsibility
Selling off real estate was forced to cut the price by half in the south of Vietnam
Many houses near Saigon and the southern provinces lowered the selling price by 30%, but the buyer wanted to reduce the cost by 50%. The price difference was significant, causing the transaction to stagnate.
High interest rate makes social home loans unattractive
HCMC – The high interest rate discourages eligible individuals from taking out loans to buy social homes, according to a recent survey of HCMC residents. Four major State-owned commercial banks – Agribank, BIDV, Vietcombank and VietinBank – have been entrusted by the central bank SBV to make soft
