Real estate

The plan aims to achieve a minimum floor area of 10 square meters per person and a total housing area of approximately 44 million square meters.

Amid the difficulties in the property sector, financial and economic specialists suggest that stimulus package for the sector is unnecessary.

Solutions for the market should follow the law of supply and demand.

The demand for Vietnam’s IP land rentals will sharply grow in 2023 thanks to policies promoting a return to investing in the Southeast Asian country.

Despite the high demand for housing, the transaction volume stays low due to the high prices compared to people’s average income.

Much of the supply of apartments come from suburban areas, but sales remain slow because prices are comparatively high relative to incomes.

The recovery process may start from the third quarter of 2023 onwards.

Selecting investors is an important step for Hanoi to speed up the process which is costly and time-consuming.

Owners of apartments to be renovated will be compensated with a property twice the size of their current home.

The ratification of the EU-Vietnam Investment Protection Agreement (EVIPA) and the lift of the yellow card on Vietnam’s seafood exports are on the agenda in these meetings.

The prime minister called for joint efforts from the authorities and businesses to help the real estate market prevail over current woes and stay on a healthy development path.

Banning underperforming property developers is imperative to making the property market healthier.

In recent months, the market has experienced a significant decline in transactions, as many projects have not been able to proceed due to lack of capital.

The capital city will allocate more than 1,800ha for housing development.

About 103,000 new apartments in the city are estimated available for sale from the last quarter of 2022 to 2025.

Foreigners can buy and own a maximum of 30% of the total number of apartments in a building, according to the draft amendment to Vietnam's Housing Law.

It is expected that by late 2022, real estate demands would continue to stay low and investors may be forced to lower prices to attract buyers.

Total new supply in Hanoi office market is estimated at 103,600 square meters in 2022.

Rising housing prices in Hanoi were mainly due to scarce supplies and higher prices of construction materials.

The city is facing a shortage of real estate supply, while the implementation of approved projects is stalled due to the tightening of credit policy and procedural difficulties.