It is necessary to develop strict penalties to combat those operating fraudulent real estate businesses to protect the legitimate rights of consumers and legitimate firms, according to executives from real estate firms and experts.
Housing prices continue to rise rapidly in HCM City because of a shortage of new supply, increasing population and lack of transport infrastructure in outlying areas.
Vietnam is second after the United States on the list countries where South Korean people and enterprises have spent a total of $440.11 million on buying real estate in 2018, drawing in $56.1 million.
Industrial property in the Northern Key Economic Zone (NKEZ) saw strong development in the third quarter of this year, according to Jones Lang LaSalle firm (JLL Viet Nam).
Viet Nam's real estate market continues to attract foreign investors because of its growth potential, especially Korean investors, according to real estate consulting companies.
New supplies of offices for lease in HCMC in the third quarter of this year kept office rents, especially Grade A offices, from rising further, according to property service provider CB Richard Ellis (CBRE) Vietnam.
Two Japanese urban developers Becamex Tokyu and Mitsubishi Estate Residence have established the joint venture BTMJR Investment to develop SORA gardens II project in Binh Duong New City, which aims to meet accommodation demands of experts and high-skilled workers.
Oakwood, a wholly-owned subsidiary of Mapletree Investments, has announced the official opening of Oakwood Residence Hanoi, marking the brand’s entry into the Vietnamese capital.
Positive signs have been seen in Vietnam’s condotel arena after more than two years of downturn as consumption in the third quarter of this year was reported at 86 per cent compared to less than 40 per cent in the same period of 2018.
The divestment of three state-owned tourist companies is expected to present a vast opportunity for foreign investors, with groups already owning many properties in valuable downtown locations which are ideal for the future development of luxury hotels.