Vietnamplus

The Ministry of Construction (MoC) has just released its first quarterly report on the domestic real estate market.

With remarkable socio-economic achievements, Hai Duong province has become an economic spotlight in the Red River Delta and northern key economic region.

The Red River Delta province of Hai Duong has emerged as a new destination for real estate businesses, with numerous projects to be put up for sale in the time ahead.

Minister of Construction Pham Hong Ha said at the meeting of the National Assembly early this week that his ministry and the Ministry of Natural Resources would complete regulations relating to condotel and officetel this year.

The National Assembly continues the question-and-answer (Q&A) session on June 5 with the ministers of construction, transport, and culture, sports and tourism answering queries about issues within their remit.

The question-and-answer session of the 14th National Assembly’s seventh sitting began on June 4 and was broadcast live on Vietnam Television, Radio the Voice of Vietnam and the NA’s television channel.

Prime Minister Nguyen Xuan Phuc has recently issued Directive No.11/CT-TTg on several solutions to promoting stable and transparent development of the property market.

As disputes between apartment residents and developers are cropping up in Ho Chi Minh City, the Ministry of Construction and the National Assembly’s Committee on Law will inspect the management and operation of several apartment buildings in the city at the end of March.

Vietnam will create conditions for the development of a sharing economy, Deputy Prime Minister Vuong Dinh Hue said at a recent conference about the compilation of a sharing economy model.

Amid widespread expectations that the central bank will continue to pursue its tight credit policy, especially to risky areas like real estate, in 2019 property developers are looking at other sources for funds.

Real estate lured investment of 79.2 trillion VND (3.48 billion USD) in the first quarter this year, accounting for 28.4 percent of total registered capital in the period, the highest of all sectors.

Strong economic growth since 2015 has created a thriving domestic property market that is likely to continue next year, said Construction Minister Pham Hong Ha.

The HCM City Real Estate Association has urged the Government to ensure condotels and officetels are not used primarily as apartments.