Ho Chi Minh City
Land prices in Ho Chi Minh City in the 2020-2024 period will be kept stable, with the highest price listed at VND162 million per square meter and the lowest, VND1.5 million, helping stabilize market prices.
Apartment prices surged in Saigon last year as new supply plunged to its lowest in four years largely due to limited supply caused by ongoing restrictions to approval procedures.
Mr. Nguyen Hoang Minh, Deputy Director of the State Bank of Vietnam-Ho Chi Minh City Branch (SBV-HCMC Branch), reported that the city’s banking industry’s capital mobilization nearly reached VND2.5 quadrillion last year.
The outlook is decidedly bullish for Vietnam’s residential market in the long term.
Prime office rent across Ho Chi Minh City in Q4 2019 experienced a decade peak amid rising demand and limited supply while new launch drives up the total supply of Hanoi Grade B segment to 1.8 million square meters.
The Government Inspectorate will announce the revised zoning boundaries of five adjacent quarters affected by the controversial Thu Thiem New Urban Area project in District 2, HCMC, ahead of the upcoming Lunar New Year.
The transport authority of HCMC has proposed the use of ODA loans to develop the first phase of the city’s fifth metro line. Meanwhile, the first and second metro line projects are still facing delays.