The domestic real estate market is hoped to have growth in the fourth quarter of this year and before the Lunar New Year 2021 if, by this year-end, the domestic economy is restored to levels from before the COVID-19 pandemic, according to insiders.
The Ho Chi Minh City Real Estate Association (HoREA) has asked for corporate bond regulations to be loosened to help businesses get through the COVID-19 pandemic.
Tax incentives for developers of social housing projects for lease should be made clear and consistent to encourage private investment in the segment, according to the HCM City Real Estate Association.
Investment in condotels remains appealing despite defaults in profit commitments by property developers, but a clear legal framework is needed to protect investors’ rights, according to experts.
Vietnam needs to renew its real estate market to attract more foreign investors and increase the quality of foreign direct investment (FDI) in the sector, according to experts.
More positive signs would appear in Ho Chi Minh City’s property market in the year-end months despite difficulties in the first half of the year, said Chairman of the HCM City Real Estate Association Le Hoang Chau.
Bond issuance is becoming an ideal channel for real estate firms to raise capital as credit policies for property development are gradually being tightened, experts said.
Investors in low-cost housing projects in some southern localities are complaining about big losses due to unfair regulations.
Foreigners have been growing more interested in buying houses in Vietnam despite obstacles in ownership.
The HCM City housing market showed signs of unsustainability in 2018 due to an imbalance between supply and demand, a property industry business group said.
The hi-end property market in Ho Chi Minh City holds great attractiveness to Asian investors, especially those from China, according to CBRE Vietnam.
Despite facing challenges, the real estate market in 2019 is expected to continue on an upward trend, say both experts and investors.
Property developers are racing to increase added value for their projects to attract buyers as competition becomes increasingly harsh.
Overseas Vietnamese sent home US$3.8 billion through Ho Chi Minh City-based financial institutions during January-October.
Since the Investment Law took effect in July 2015, Vietnam’s FDI inflows, and the real estate sector in particular, have significantly increased in terms of merger and acquisition (M&A) activities.
In the year-to-date FDI in real estate has been worth US$5.9 billion, the highest level in a long time and second in terms of sectors this year with almost a fourth of total investment, the Foreign Investment Agency said in a recent report.
Although Vietnam allows expats to own houses in the country, many of them are finding it challenging to obtain title documents.
Amid narrowing credit sources and rising lending interest rates, property developers have been diversifying their capital mobilisation channels, including calling for foreign investment.
The apartments for sale segment in both Hanoi and Ho Chi Minh City saw a downturn in the first half of the year.
The government will have breakthroughs in the reform of legal regulations and business investment conditions for the domestic real estate market this year, according to experts.