Vietnamplus

Japan’s Nomura Real Estate Development Company Limited has agreed to participate in a condominium housing project within the Ecopark project, a large-scale development undertaken by Ecopark Corporation Joint Stock Company in the northern province of Hung Yen.

The Hanoi Department of Construction has listed 22 commercial housing projects, some complete and some under construction, where foreigners can own homes.

The domestic real estate market in the first quarter had the lowest transaction volume in the past four years due to the impact of the COVID-19 pandemic, the Vietnam Association of Real Estate Brokers (VARS) said.

The domestic real estate market in the first quarter of this year witnessed the lowest transaction volume in the past four years due to the impact of the COVID-19 pandemic, according to the Vietnam Association of Real Estate Brokers (VARS).

Vietnam’s real estate market became the second most attractive investment field for foreign investors after it lured 1.1 billion USD in foreign direct investment (FDI) during January-April, or 7.5 percent of the total FDI inflow just behind the manufacturing and processing sector.

Four years ago, the State Bank of Vietnam (SBV)’s preferential loan credit package of 30 trillion VND (1.29 billion USD) helped thousands of low-income people purchase low-cost apartments in big cities.

The Ministry of Construction has asked provinces and cities to report on home ownership by foreigners and Viet kieu (overseas Vietnamese) in Vietnam.

The supply of luxury housing products has increased so fast that it has outstripped that of affordable units, according to realty experts.

The real estate market is suffering a severe shortage of affordable homes despite the segment witnessing huge demand, attendees heard at a recent conference.

Apartment rental yields in Ho Chi Minh City have declined slightly due to excessive supply, property consultancies said.

Hanoi expects to attract more foreign buyers on its real estate market as a rising number of foreign experts and entrepreneurs are working in the capital city.

The real estate market in Hanoi is becoming a magnet for foreign investors, with the number of experts and entrepreneurs from abroad working in the capital city rising.

There will not be much change in the property market in the second half of the year, a senior Ministry of Construction official has said.

Up to 1,650 property transactions were successful in Hanoi in January, up by 13.8 percent from December 2017.

More sales were recorded in the domestic property market in January as compared to figures in December 2017.

Vietnam witnessed positive development in the real estate market in 2017 with increased transactions of apartments and reduction in real estate inventory.

Seaside resort real estate has become a hotspot for investors in the recent two years in the central city of Da Nang, said the property service group CBRE Vietnam on August 9.

Real estate prices remained stable in the first three months of 2017 with mid- and high-end segments dominating the market, according to the Housing and Real Estate Market Management Agency.

The housing market was facing an oversupply of high-end developments, detracting from the market’s attraction to investors.

Two new preferential loans, unrestricted by scale and deadline, for social housing and cheap commercial housing projects will be provided to low-income earners. The new packages are expected to continue the 30 trillion VND housing stimulus package.