The HCMC government’s decision to stop licensing new multistorey apartment building projects in Districts 1 and 3 until 2020 could result in a monopoly among the few investors in projects currently under construction, paving the way for them to raise the prices of apartments, according to the HCMC Real Estate Association (HoREA).
Phu My Hung Development Corporation started 2019 by the introduction of The Peak phase 2 – the last component of the Midtown project on January 17.
The Vietnamese real estate market, especially the high-end segment, will still attract the interest of foreign investors this year as the local housing market will grow further thanks to the country’s promising economic growth prospects and new infrastructure projects, said Savills Vietnam Managing Director Neil MacGregor.
The real estate market remains strong in 2019 since the economy continues to grow robustly and there is a lot of investment flowing into infrastructure, thus attracting both domestic and foreign investors.
Vietnam is making great efforts to build smart cities based on its internal and external advantages. Ta Thi Thanh Huong, urban green growth specialist from the Global Green Growth Institute in Vietnam, writes about the challenges and opportunities that come with developing this type of city.
Experts believe that mid-range apartment and flat land segments will lead the Hanoi market in the Year of the Pig.
Despite challenges arising, the real estate market in Vietnam ended 2018 in a good place, and expects to remain stable this year.
HCM City collected fees of more than VND16.49 trillion (over US$712.5 million) last year for changing land-use purposes, according to the city Registration Office for Land Use Rights.