Singaporean Minister of National Development Desmond Lee said on February 17 that 29,000 flats built in 1997 or earlier have been chosen for the Housing Board’s Home Improvement Programme (HIP) and will get structural improvements and upgrades to bathrooms and entrances, among other things.
Authorities of the Mekong Delta province of Bac Lieu have set a goal to replace makeshift and dilapidated homes for 1,760 poor households by 2025, heard a meeting of businesses on January 17.
The construction industry is estimated to expand at around 7.8- 8.2% this year, the highest rate since 2020, according to a Ministry of Construction report.
The central province of Quang Ngai has set a target to eliminate all temporary and dilapidated houses in 2025, said Standing Vice Chairman of the provincial People’s Committee Tran Hoang Tuan.
While some real estate companies have paid large dividends to investors, many others in the sector still have to struggle to rotate capital sources to pay debts and reinvest.
Foreign investors poured a total of 2.4 billion USD into the real estate market of Vietnam in the first eight months of this year, five times the level over the same period last year, according to the latest updates from the General Statistics Office (GSO).
More than 17,100 apartments and land plots of real estate projects across the country remain on the market in the second quarter of this year, with land plots and houses doubling that of apartments, the Ministry of Construction (MoC) reported on August 14.
If prices in the real estate market increase by more than 20% for three months, ministries and branches managing the property market have to propose measures to regulate the market.
Thailand’s economic cabinet has directed the Finance Ministry and the Bank of Thailand (BoT) to expedite addressing household debt, particularly bad debts in housing, cars, motorcycles, credit cards and student loans as the economy has yet to see clear signs of recovery.
Real estate revenue in Ho Chi Minh City reached 124 trillion VND (4.9 billion USD) in the first half of the year, up 6.1% year-on-year, according to the HCM City Statistics Office.
Apartment absorption was relatively positive in Hanoi in the first quarter but weaker in Ho Chi Minh City compared to the same period last year while supply remains limited in both metropolises, reported real estate services and investment company CBRE.
A large-scale project to build at least one million social housing apartments for low-income people and industrial park workers before 2030 is underway. Current demand outstrips supply, causing some to press for faster action.
Vietnam’s consumer price index (CPI) rose 3.84% year-on-year in the first four months of this year, primarily due to higher prices for education, housing and construction materials, culture, entertainment and tourism, food, and electricity.
With the Government’s drastic measures to address problems related to legal bottlenecks, lack of capital access, and challenges in corporate bonds, the real estate market is expected to recover from the third quarter, experts have said.
President Nguyen Xuan Phuc has asked the Vietnam Federation of Civil Engineering Association (VFCEA) to improve the quality of consulting, assessment and social criticism in the construction sector.
Home rents have risen to a seven-year high in Singapore, already one of the world's most expensive cities, even though the city-state's population has dipped in the past two years.