Business News

Problems in planning and large gaps between land prices and incomes will pose challenges for the property market over the next few years, experts said. According to President of the Viet Nam Real Estate Association Nguyen Tran Nam, housing prices are still far beyond the incomes of a majority of residents.

[18-01-2017] In 2017, the real estate market is forecast to stage continued positive performance. Vacation property, midsize apartment and affordable housing segments for low-income earners will be hot picks on the market. Development opportunities of the property market will become clearer in 2017.

[17-01-2017] Da Nang City will establish four new industrial parks (IPs) by 2020, Ho Ky Minh, deputy chairman of the municipal People’s Committee, said. Minh said the committee had asked the city’s Department of Industry and Trade (DoIT) in collaboration with relevant agencies to speedily implement procedures to submit the establishment plan of the four IPs to the Government.

[12-01-2017] The Ha Noi real estate market saw strong development in the condominium, villa and townhouse segments in the fourth quarter of 2016 and experts predict further growth this year. Nguyen Hoai An, manager of professional services at CBRE Viet Nam Co, said at the company’s press conference yesterday that 9,128 units were avilable for sale in 34 projects across the city last year.

[21-12-2016] The finance ministry has announced that people who own a house will not have to pay tax for the second house they buy in 2017. Nguyen Van Phung, deputy director of the ministry’s tax policy department, said the issue is still on the table for discussion and while it has been a long-pending proposal, it will not happen this year. The idea of taxing multi-house owners is a matter of concern for many Vietnamese citizens.

[23-09-2016] Many globally renowned investment funds have shown interest in the Vietnamese property market after announcing investment deals worth tens of millions of dollars in potential real estate firms. Vo Huynh Tuan Kiet from CBRE Vietnam, a real estate service provider, said Vietnam in recent years has been witnessing hefty foreign investment in the property market.

[14-09-2016] Foreign direct investment in Ho Chi Minh City’s real estate sector continues to rise across residential, office, and retail segments. In the first eight months of 2016, the city’s real estate sector attracted the most foreign direct investment, with capital of $318.9 million so far disbursed. Singapore is the top investor in the local real estate sector, followed by Japan and Korea.

[13-09-2016] Before 2009, it was not possible for a foreign investor to legally acquire a tenancy interest in land for commercial business purposes in Vietnam. As a result of the passage of new legislation since 2009, it is now possible under a limited number of circumstances for foreigners to acquire a long-term tenancy in land for use such as for a factory, warehouse, retail, wholesale or office space.