
SINGAPOREAN DEVELOPERS RETAIN THRONE IN REAL ESTATE
Top Singaporean groups are continuing to make their mark in Vietnam’s real estate arena, from luxury apartments to industrial complexes. Vietnam is one of the top five destinations chosen by Singapore’s ultra-high-net-worth individuals to invest in real estate, behind Australia, India, Hong Kong, and the Chinese mainland, according to the Foreign Investment Agency.

REMOVING BARRIERS FOR FOREIGNERS TO OWN PROPERTIES IN VIETNAM
The Vietnam Association of Realtors (VARS) has proposed allowing foreigners to purchase and own houses, including private houses and apartments, in Vietnam during the time they work in the country. VARS said it is necessary to specify the minimum remaining working time at the time of purchase, and supplement conditions when foreigners purchase a certain number of properties, to prevent speculation.

REAL ESTATE DEVELOPERS VOICE ISSUE WITH NEW LOAN CONDITIONS
Circular No.06/2023/TT-NHNN, which amends and supplements a number of articles of a 2016 circular that provided operations for loans from credit institutions and foreign bank branches to customers, has new regulations on restrictions on real estate lending.

FOUNDATIONS BEING LAID FOR 2024 REAL ESTATE REJUVENATION
At a government press conference on July 4, Deputy Minister of Construction Nguyen Tuong Van said based on recent reports sent by the local authorities of Ho Chi Minh City, Hanoi, Danang, Haiphong, Can Tho and Dong Nai to the government’s working group on boosting real estate, three key problems in the sector continue to be institutional implementation, bonds, and capital management.

HUNG YEN LURES IN $374 MILLION TO INDUSTRIAL ZONES
According to Pham Truong Tam, director of Hung Yen Industrial Zones Management Authority, in the first half of this year, the authority received 26 projects, including eight domestic and 18 international ones, worth $272.6 million. Besides that, 25 existing projects acquired $102.1 million in supplemental capital during the period.

INDUSTRIAL REAL ESTATE FIRMS TO BENEFIT FROM LAND FUND SHORTAGE
In the first quarter of 2023, the industrial park real estate market recorded a slow growth in the eligible land fund for rent, up 2.1 per cent over the end of 2022. The gain came from the addition of land for lease from industrial zones in Long An, Bac Ninh, and Hai Duong provinces.

INCREASING NUMBER OF REAL ESTATE BUSINESSES WITHDRAWING FROM MARKET
Minister of Planning and Investment Nguyen Chi Dung, speaking at a meeting of the National Assembly on June 1 to discuss the current socioeconomic situation, said a recent report from the ministry (MPI) on business registration suggested that the real estate business continues to be the most adversely affected sector.

SECOND HOME REAL ESTATE ON THE SLOW PATH TO RECOVERY
According to a report by DKRA Vietnam, the supply of villas and town houses across the country continued to decrease from the end of the second quarter of 2022. Specifically, in April only two projects were opened for sale, providing 12 apartments to the market, down 69 per cent from the previous month and down 98 per cent compared to the same period last year.