Vietnam's real estate sector recorded the establishment of 4,241 new companies in the first 11 months of this year, marking a 2.6% annual dip, reported the General Statistics Office (GSO).

Real estate revenue in Ho Chi Minh City reached VND173 trillion (over US$7 billion) in the first eight months of the year, up 6.1% year-on-year, according to the HCM City Statistics Office.

After a booming period, foreign investment flows into Vietnam via mergers and acquisitions (M&A) have slowed down over the past few years, and the market is still waiting for big deals.

More than 17,100 apartments and land plots of real estate projects across the country remain in the market in the second quarter of this year, with land plots and houses doubling that of apartments, the Ministry of Construction (MoC) reported on August 14.

In order to meet the goal of 7% economic growth rate this year, experts held that it is necessary to maintain current development pace and even accelerate it.

Many bright spots were seen in the economic panorama in the first seven months of this year thanks to the Government’s continuous efforts to perfect the institution, remove difficulties for businesses, and promote economic growth.

The 2024 Land Law, to take effect from August 1, is hoped to bring about investment waves in relevant sectors such as real estate, requiring stakeholders to make good preparations, experts stated at a conference jointly held by the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC) and the Vietnam International Arbitration Centre (VIAC) in HCM City on July 17.

Experts believe that positive changes in real estate laws and the policies of the Government will increasingly attract many foreign investors, helping to orient the market to develop in a more healthy manner.

The Ministry of Foreign Affairs' State Committee for Overseas Vietnamese (SCOV) in coordination with the Hanoi Bar Association organised a conference on June 27 to popularise regulations and laws regarding the Land Law 2024 of Vietnam to overseas Vietnamese (OVs).

VOV.VN - The National Assembly is scheduled to give opinions and pass 10 bills in the last working week of the seventh session, starting on June 24.