Urbanisation in today’s fast-paced world is inevitable, especially in emerging economies. Vietnam’s population has grown rapidly from 66 million in 1990 to more than 96 million in 2019.
Prime Minister Nguyen Xuan Phuc has recently issued Directive No.11/CT-TTg on several solutions to promoting stable and transparent development of the property market.
The property market of Vietnam is attractive to foreign investments due to the country’s rapid ubanisation, open policies and improved investment climate, experts said.
Vice Chairman of the Ho Chi Minh City People’s Committee Le Van Khoa asked relevant departments to improve management and take measures to tackle factors that could create the conditions for a property market bubble.
Experts said the legality of coastal condotels should be clarified since the product had recently emerged an investment trend in Vietnam’s realty market.
The construction ministry is drafting a project on management of the property market through six measures to support transparency and stability, Minister of Construction Pham Hong Ha said.
Japanese investors are continuing to take advantage of Vietnam’s real estate market opportunities with new projects from both new and existing developers.
The local property market saw a doubling of successful transactions in May, said the Ministry of Construction's Housing and Property Market Management Department.