Supply constraints keep housing prices high: expert
Rising value of Hanoi's residential segment calls for measures to reduce property prices.
Rising value of Hanoi's residential segment calls for measures to reduce property prices.
The Government, ministries, and businesses are urged to implement solutions to solve existing major issues hampering the development of the real estate market.
The price of apartments in Hanoi has been on an upward trajectory, setting new price benchmarks.
When the amended Land Law comes into effect in January 2025, more overseas Vietnamese will be able to own local property.
Hanoi has nine operational industrial zones covering an area of 1,670.6 hectares.
In 2024, the housing market shows more positive signs than in 2023, but there will be differences in the timing of the recovery across segments.
According to Savills, foreign investors are increasing their interest in retail and hotels and traditional segments such as residential and offices.
Hanoi is expected to require capital of VND12.5 trillion (US$508 million) to develop social housing projects by 2025.
In 2024, the Ministry of Construction will closely monitor the implementation of the plan and work with local governments to allocate land for social housing.
The average floor area per person across the city will reach 28.8 square meters by 2024.
It is estimated that one-fifth of all expatriate Vietnamese want to buy homes in the country.
Local consumers are not just looking for places to shop, but also a complete experience, including entertainment and eating out.
The real estate market is expected to gradually stabilize and shift towards positive changes, as 2024 could be the last year in the process of overcoming obstacles.
In 2023, the housing market in Hanoi and Ho Chi Minh City faced numerous challenges.
This revised law will take effect from January 1, 2025.
Local experts predicted the industrial segment would revitalize the real estate market in 2024.
Incentives from both market regulators and developers will be key to driving Vietnam's property sector in 2024.