The real estate market of Hanoi saw high demand for Grade A apartments for rent and sale in the third quarter, according to Savills Vietnam’s quarterly report on Hanoi's property market.
Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted USD3.88 billion, equivalent to 10.2 percent of the total registered.
Suspended ventures due to lack of administrative procedures are instigating a severe shortage of supply and sharp increase of prices of the property market in Ho Chi Minh City, as well as in outskirt areas.
The real estate market in HCMC was bleak in the January-September period this year with few projects being launched, which will result in a shortage of apartments in the near future.
Vietnam was urged to complete the land market to meet requirements and ensure development, experts said.
Hanoi expressed high appreciation towards the activities of the Vietnam National Real Estate Association (VNREA), not only serving the legitimate and justified needs of its members, but also creaing an engaging ‘playground’ for businesses.
Eco-urban areas located near Ho Chi Minh City (HCMC) are sparking a new wave of real estate investments in Vietnam.
In line with previous forecasts, the real estate market in the northeastern province of Quang Ninh is booming this year.
The property market in the southern province of Binh Phuoc is expected to heat up because of industrial zone planning from now to 2030, according to experts.
Recently, the State Bank of Vietnam (SBV) has released a draft circular on safety limits for banks and called for public comment on the proposed changes. This circular would tighten regulations on lending, especially in the high-end property segment.
If credit policies for luxury home puchases were tightened, it could be a shock for the property market, experts have warned.
Vietnam’s industrial real estate is undergoing a turnaround to cash in on the rising wave of foreign capital influx and factories moving out of China.
It was recently proposed in the draft to replace Circular No.36/2014/TT-NHNN that risk weights for real estate mortgages with a principal balance of VND3 billion ($130,430) and above should be tripled from 50 per cent to 150 per cent. The proposal, which would cause a large impact, shook Vietnam’s property market and its participants.
Vietnam holds huge potential for developing the resort market thanks to high economic growth and growing travel demand, experts said at a recent workshop in Hanoi.
An insider has predicted a good outlook for the property market in the medium and long terms despite signs of decline in recent months.