Housing developers target hospitality segment
Many giant housing real-estate developers in Ho Chi Minh City are flocking to the hospitality segment by developing or distributing new projects in tourism areas.
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Many giant housing real-estate developers in Ho Chi Minh City are flocking to the hospitality segment by developing or distributing new projects in tourism areas.
The supply of luxury housing products has increased so fast that it has outstripped that of affordable units, according to realty experts.
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.
Latest updates from the Ministry of Construction showed that real estate inventories were on a declining trend but remained relatively huge.
The State Bank of Vietnam has issued a circular to amend Circular No 07/2015 on bank guarantees.
The real estate market is recovering strongly and attracting huge sums of money from banks, foreign investors and overseas Vietnamese.
Many investors in HCM City are struggling to rent their apartments as the market continues its tepid streak that began in early 2016, according to the Dau Tu (Vietnam Investment Review) newspaper.
Housing developers in the country especially in HCM City will shift from luxury apartments to the mid- and low-end segments next year, experts have said.
It is necessary for housing developers, contractors, banks and State agencies to cooperate in disclosing information about real estate projects to avoid panicking buyers, experts have said.
More than 28 trillion VND (1.25 billion USD) was disbursed from the 30 trillion VND housing stimulus package up till the end of August, according to the Ministry of Construction.
Apartments are becoming the housing of choice for many young families in HCM City thanks to the many advantages they offer.
The HCM City Real Estate Association on August 10 asked the local Electricity of Vietnam (EVN HCMC) branch to pay for building the electricity grid for projects being incurred by developers.
Around 70-80 percent of workers at industrial parks (IPs) nationwide have housing needs, an official from the Ministry of Construction has said.
The cost of building houses is expected to increase due to the recent rise in steel prices, which will in turn likely cause a spike in home purchase prices.
Local authorities in Ho Chi Minh City
have proposed an annual interest rate of only 3 percent for the most
preferential home loans to benefit the poor, and seek the Government’s
approval to extend the disbursement of the 30-trillion-VND home loan
package up to 60 months, the Saigon Times Daily reported.
