Condominiums remain the best bet for people living in big cities thanks to their affordable prices, and not surprisingly the HCM City apartment market is showing signs of recovering after the slowdown caused by the Carina Plaza fire at the beginning of this year, insiders said.
The HCM City housing market will continue to grow this year, especially the 1 billion VND (44,000 USD) condo segment, the HCM City Real Estate Association (HoREA) has predicted.
The HCM City Real Estate Association has recommended real estate companies transform themselves into publicly listed joint-stock businesses so they are able to seek greater funding to improve business performances in 2018.
Fierce public objections about its proposal to impose value-added tax (VAT) on the transfer of land-use rights have forced the Ministry of Finance to shelve the move.
The HCM City Department of Construction allowed developers Quoc Cuong Gia Lai and Ha Do to sell future properties at their projects in districts 7 and 10, respectively.
Next year is likely to be a fiercely competitive one for real-estate companies in Ho Chi Minh City since scores of new projects are set to hit the market, analysts said.
The HCM City Real Estate Association has proposed the State Bank of Vietnam raise a stimulus package similar to its previous 30 trillion VND (1.3 billion USD) preferential home loan package.
While housing developers in Ho Chi Minh City are looking for occupants for over 15,000 apartments they have built, the city's authorities said more such apartments are needed to resettle people moved out of their houses for various reasons.
Ho Chi Minh City plans to put projects under the Build-Transfer (BT) investment model under more scrutiny by auctioning land instead of offering it in exchange for infrastructure.
The mid-priced apartment segment in Ho Chi Minh City is developing strongly with demand and supply and liquidity all looking up, especially in the eastern part, experts said.
The latest proposal to tax an individual’s income from the interest accrued from the savings deposited in banks has become a bone of contention between the parties concerned.
The massive stimulus package of 30 trillion VND, introduced in 2013 to encourage social housing development in Vietnam and revitalise the listless real estate sector, has been entirely disbursed.
The Ho Chi Minh City People’s Committee has scrapped construction permits for individual houses on a trial basis in residential areas where the 1/500 scale detailed planning is complete.
The bad debt in the real estate sector could be resolved if steps are taken to resume suspended projects, according to the Ho Chi Minh City Real Estate Association (HoREA).
The rapid rise of apartment blocks along several small roads in Hanoi has strained traffic infrastructure with thousands of new residents arriving at once.
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