Real estate

Secretary-General of the Vietnam Association of Estate Agents Nguyen Van Dinh said at the press conference on June 9, some 5,000 estate agents will gather at the Vietnam real estate brokerage Day which will be organised in central Da Nang city on June 25.

Savills Vietnam, the largest property company in the country, forecasts that the real estate market will be on the upswing in 2016, thanks to improved economic conditions, monetary policies and international trade agreements.

Coastal cities in Vietnam will soon welcome a number of new resorts as many projects have been launched since 2015.

Aside from garments, aquaculture and agriculture, the property-related sectors like industrial parks, warehouses and logistics will enjoy the positive effects of the Trans-Pacific Partnership (TPP) agreement, which was reached by 12 member states on October 5, said experts from CBRE Group, the world’s largest commercial real estate service firm.

Some 30,000 real estate transactions were recorded in the first nine months of 2015, which was tantamount to the combined figures from last year, as heard at a seminar on housing development in the Mekong Delta city of Can Tho on October 7.

The government has issued its policy for foreigners to buy houses, but the guiding circulars have not been released.

The Ministry of Construction has recently asked local authorities nationwide to quicken the building of social housing, in a bid to comply with the national housing development strategy.

Investment inflows into the property sector has surged, especially credit from banks, said Nguyen Tran Nam, former Deputy Minister of Construction and Chairman of the Vietnam Real Estate Association (VREA).

Sixty-two commercial-housing projects with 41,769 apartments in total has registered to be social-housing projects all over the country so far, according to the Ministry of Construction.

The implementation of the revised Law on Real Estate Business is expected to attract a range of new investors to the office for lease market.

Vietnam realty exhibition 2015 will take place from July 31 to August 2 at the national Exhibition Palace of Architecture and Construction Plan (Do Duc Duc road, Nam Tu Liem district, Hanoi).

More social housing projects will be developed with the involvement of the State, enterprises, and the public, to meet the people`s demand, according to Minister of Construction Trinh Dinh Dung.

Along with a remarkable rebound, the country’s real estate sector continues to enjoy foreign direct investment (FDI) flows.

According to the Vietnam Real Estate Association, the Vietnam Association of Property Brokers will make its debut on May 28 in Hanoi.

Over 5,100 apartments in the mid- and high-end bracket from 17 projects in Ho Chi Minh City were sold during the first quarter of 2015, up 163 percent from the same period last year.

Viet Nam is forecast to rank third out of 32 nations hosting new wealth builders (NWBs) for the 2014-20 period, according to a survey by The Economist magazine.

According to Deputy Minister of Construction Nguyen Tran Nam, the number of successful real estate transactions in Hanoi and HCM City in the first quarter of 2015 increased nearly three times in the comparison to the same period last year.

The Asia Property Awards will include Viet Nam from this year, helping showcase the country`s best properties on the regional stage.

According to the General Statistics Office, the number of new realty companies established in the two first months of this year increased by nearly 89 percent against the same period last year.

The Vietnam government approved a law late last year allowing for expansive foreign ownership of residential property, as it seeks to boost an ailing property market and accelerate economic growth.