Vietnam Property News
With the further expansion of the BEYOND360 Group's business, "BEYOND360 Thailand Property" merged with the Vietnamese property management company "MTC Vietnam Property" and officially rebranded as "BEYOND360 Vietnam Property" on October 1, 2022, providing excellent property management services for more overseas owners in Thailand and Vietnam.
Leaders of the Ministry of Natural Resources and Environment shared decrees and circulars related to the amended Land Law that have been developed in the process of making laws. The effective period will be at the same time as the Land Law.
Ms. Nguyen Hoai An – Senior Director of CBRE Hanoi forecasts that the growth of secondary apartment space in Hanoi is expected to slow down with selling prices at the end of 2024 expected to increase by about 22% year-on-year. In Ho Chi Minh City, primary prices are expected to increase by about 5% year-on-year, contributing to narrowing the gap between primary selling prices of apartments in Hanoi and Ho Chi Minh City.
The real estate market has been in a state of misalignment for many years, high-end housing is overwhelming. Experts expect 3 laws related to real estate to help affordable apartments and social housing return.
Vietnam’s Housing Law of 2023 represents a bold step forward in addressing the nation’s housing needs. By expanding eligibility, empowering local authorities, and introducing financial mechanisms to bridge the urban-rural divide, the law is poised to make a significant impact. Hanoi Capital City and Ho Chi Minh City are leading the charge, each with their unique approaches and challenges.
If approved, the price of land in Ho Chi Minh City will increase sharply. In some cases, directly affected by new land prices, housing prices will also increase.
