Construction of the first metro route in Ho Chi Minh City has boosted residential prices in its vicinity to 25-75 percent higher than launching prices.
The Ben Thanh-Suoi Tien Metro Line aims to start trial operations in Long Binh Depot end of this year, when the first three carriages were transported to the depot on weekend.
More and more realty firms are using digital platforms to sell their products, driven by the Government's encouragement to develop local digital technology firms amid the COVID-19 pandemic.
Prices of office rent in Ho Chi Minh City and Hanoi increased following by high demand for office despite the impacts from Covid-19 pandemic, Colliers International Vietnam said in a report.
- Realty market embraces digital technology 1
- Office market in Ho Chi Minh City and Hanoi grows despite pandemic 2
- Thu Duc City still a very distant dream 3
- Hanoi proposes to build $2.8bln metro line 4
- Post-COVID move in Vietnam’s industrial real estate market 5
- Ho Chi Minh City metro work gives massive boost to nearby house prices 6
The impetus to establish a city within Ho Chi Minh City is gathering momentum, and the Government has approved the creation of this city under the name of Thu Duc City.
Authorities in Hanoi have submitted a proposal to the government to invest over VND65.4 trillion ($2.8 billion) in a 39-kilometer-long metro line.
The wave of transiting factories out of China from preferential trade agreements EVFTA, CPTPP and Vietnam's effective control of pandemic have increased the chance to welcome more investments into Vietnamese industrial estates.
Ho Chi Minh City will auction land-use rights for nine land parcels covering 77,606sq.m in its Thu Thiem new urban area in District 2.
Real estate developers are proposing the government to eases existing limits on foreign ownership to increase the liquidity of the market which has been badly hit by pandemic.
The Ho Chi Minh City People’s Committee announced the direction of the city's chairman Nguyen Thanh Phong to implement the government's decision on piloting smart city government and forming Thu Duc City.
The first seven months of the year witnessed foreign direct investment (FDI) into Vietnamese real estate stand at $2.8 billion, according to figures released by the Ministry of Planning and Investment.
Vietnam has decided to cancel a $390-million loan from the Asian Development Bank meant to fund the second metro line in Ho Chi Minh City.
Property companies listed on the Hanoi Stock Exchange reported a 79.4 percent year-on-year fall in profits in the first half due to the Covid-19 outbreak.
The government will seek advices from foreign investors, representatives from tech, finance, real estate firms on building the city, which will be merged from 3 eastern districts of Ho Chi Minh City.
Foreign individuals and organizations have purchased up to 16,000 houses in Vietnam in the past five years, accounting for 2% of all homes sold in the country during the period.
Two thirds of real estate companies have laid off employees as a result of the Covid-19 pandemic, the highest rate of any sector, a survey found.