Ho Chi Minh City’s plan to establish Thu Duc city by merging Districts 2, 9 and Thu Duc has caused property prices in the three eastern districts to increase sharply.
Foreigners’ acquisition of land use rights in the names of Vietnamese nationals is a legal violation and is not protected by law, according to the Ministry of Natural Resources and Environment’s (MoNRE) General Department of Land Administration.
Da Nang city and Thua Thien-Hue province in the central region have approved some key property projects for construction in the third quarter of this year, calling for investment to help recover the real estate market growth that was postponed by the COVID-19 pandemic.
After lagging behind other provinces and cities nationwide in attracting Japanese investment, the central city of Da Nang has emerged as a popular destination for investors from the Land of the Rising Sun.
Many property developers in Ho Chi Minh City are moving to neighbouring provinces and cities and even as far away as the central region as city authorities are issuing fewer licences and legal procedures elsewhere are simpler.
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 central city of Da nang has fined the owners of an illegally enlarged beach resort in Ngu Hanh Son District 100 million VND (4,400 USD) and will dismantle all buildings involved after January 18.
The real estate market in HCM City has continued its positive growth late 2016 with many new projects launched, particularly in the mid-end segment, in the first quarter of this year.
The central city of Da Nang has suspended illegal construction of a coastal eco-tourism project in the Son Tra Nature Reserve, the city’s Construction Department said.
Foreign direct investment (FDI) in the property market has been on the rise, with nearly 300 million USD in January, accounting for nearly 21 percent of total FDI in Vietnam.
The south central coastal province of Binh Dinh aims to complete two apartment projects in Quy Nhon city that could accommodate 716 households in 2017.
The HCM City-based Nha Mo (Dream Home) Corporation has announced it recently signed a comprehensive cooperation contract with The Global Group, a Japanese real estate developer.
The property market in Vietnam has seen an influx of Japanese capital recently, with many projects carried out under partnerships between the countries’ enterprises.
The People’s Court of Ho Chi Minh City on November 25 commenced a preliminary hearing for two defendants involved in a major embezzlement scandal at the Agribank Financial Leasing Company No 2.
7,862 apartments from 26 projects in Ho Chi Minh City were sold during the third quarter of 2015, said Head of CBRE Vietnam’s Research and Consulting Department Duong Thuy Dung.
Foreigners buying or selling houses in Vietnam are required to carry out transactions through banks in the country and not in cash, the central bank has decreed.
Mark Cameron of the UK, who lives and works in Vietnam, believes that
he will be able own residential property thanks to the revised Law on
Housing, which has removed prior restrictions on foreigners from buying
property in the country.
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