Business News

[23-07-2015] Many housing developers are circumventing the law to profit from the national real-estate bailout programme, said vice-chairman of HCM City Real Estate Association, Nguyen Van Duc. The programme was set up to provide homes for low-income earners, but there is evidence that many people with considerable assets are fraudulently taking advantage of the scheme.

[19-07-2015] The pick-up of the property market has triggered bubble fears, but State management agencies said the market would be closely watched to prevent it from happening again. Construction Minister Trinh Dinh Dung recently said the market recovery, reflected in the rising number of successful transactions and soaring prices, was not the result of speculation.

[10-07-2015] Two long-awaited amended laws on housing and real estate, effective from July 1 and expected to have a significant impact on the property market, may not be as effective. The two new laws were introduced amid the recovery of the property market starting from the end of last year, after seven years remaining frozen, with amendments to drive the market back on track. Still, market participants are awaiting further detailed instructions.

[07-07-2015] Two long-awaited amended laws on housing and real estate, effective from July 1 and expected to have a significant impact on the property market, may not be as effective. The two new laws were introduced amid the recovery of the property market starting from the end of last year, after seven years remaining frozen, with amendments to drive the market back on track. Still, market participants are awaiting further detailed instructions.

[06-07-2015] A $1.2 billion property project by Gaw Capital Partners has been given the go-ahead to begin construction in Ho Chi Minh City. An investment certificate was granted last week to Denver Power, a subsidiary of Gaw Capital Partners, together with Tien Phuoc Real Estate and Tran Thai Lands  for the development of their new Thu Thiem Observation Tower, also known as Empire City.

[02-07-2015] Housing investors must obtain a financial guarantee from commercial banks before they will be permitted to transfer property to home buyers or renters, from August 9 onwards. The State Bank of Viet Nam (SBV) made this announcement in Circular No. 07/2015/TT-NHNN, dated June 25, explaining that the regulation was necessary to meet practical market requirements and ensure the efficiency of banking guarantee services, in line with international routines.

[30-06-2015] Land rents are rising too quickly, according to members of the business community who met in Ha Noi at a conference entitled "Property Rights and Enterprise Development". The meeting last week was co-organised by the Viet Nam Chamber of Commerce and Industry (VCCI) and World Bank Group.

[27-06-2015] The revised Law on Housing, which comes into effect in July, eases restrictions for foreigners to own property in Vietnam. This progressive legislation is expected to reinvigorate the market by offering non-nationals attractive conditions for buying a house.