Development skewed in HCM City region real estate market

real estate market, HCM City, real estate market, HCM City, Property,
Developers and authorities discuss the HCM City region property market at a workshop in the city yesterday (April 16). — VNS Photo Thu Hang

The skewed concentration of property projects in some areas of HCM City has resulted in an imbalance in the development of satellite cities and causes a strain on the transport system, a workshop heard in the city yesterday.

In 2017 the Government approved a master plan for the period until 2030 for the HCM City region, which covers an area of more than 30,000 square metres comprising HCM City and the seven surrounding provinces of Ba Ria - Vung Tau, Binh Duong, Binh Phuoc, Tay Ninh, Long An, Dong Nai, and Tien Giang.

It creates a legal framework to attract investment in satellite cities and real estate markets in outlying areas, Nguyen Tuan Anh, editor-in-chief of Nha dau tu (Investor) magazine, told the workshop.

New regulations in the city to tighten the issue of licences to property projects resulted in a drastic drop in supply, boosting the real estate markets in neighbouring provinces, he said.

But there is an imbalance in the development of satellite cities, affecting the implementation of the master plan, he said.

Le Do Muoi, head of the Transport Development and Strategy Institute, said investment in traffic infrastructure is vital to ensure connectivity between HCM City and satellite cities and synchronised transportation.

Improving traffic infrastructure is now a priority, he said.

In recent years infrastructure for travel between the city and provinces in the HCM City region has improved, resulting in the mushrooming of new urban areas, he said.

This has enabled investments to flow easier into neighbouring provinces, he said.

But a high concentration of property and urban development projects to the east of the city, including in Binh Duong and Dong Nai provinces, has resulted in skewed development and placed a strain on transport systems in its gateways.

Nguyen Hoang, R&D director at DKRA Vietnam, said the HCM City real estate market has for years spilt over into its neighbouring provinces, and their markets thus have close links and affect each other.

Last year the market in neighbouring provinces saw positive growth, which made up for the decline in all segments in HCM City, he added. — VNS

News Related


Logistics property group LOGOS forms venture to enter Viet Nam

Cargo containers are loaded from ships at Tien Sa Port in the central city of Da Nang. Viet Nam has been an attractive destination for logistics investors in recent years. — VNA/VNS Photo… Read more »

HCM City landlords have little choice but to cut rents as 2nd wave of COVID-19 hits

Rents in HCM City have continued to drop with the second wave of COVID-19. — VNS Photo Van Chau Nguyen Thi Minh has been forced to reduce the rents for her two apartments… Read more »

Hotel owners face tough times in capital

Hotels in Ngõ Huyện Street in Hà Nội must stop running or turn themselves into low-cost hourly hotels to cope with the new wave of COVID-19. — VNS Photo Đoàn Tùng The lobby… Read more »

Foreigners purchased about 16,000 real estates in Viet Nam

The number of foreigners buying property in Viet Nam on the 2015-20 period increase sharply compared with 2008-14 period, especially in HCM City. — VNS Photo Foreigners have bought some 16,000 housing properties… Read more »

HCM City readies land to expand infrastructure at IPs and EPZs

An industrial park in HCM City. — VNA/VNS Photo Manh Linh HCM City authorities promise to offer competitive land rentals and other incentives at industrial parks (IPs) and export processing zones (EPZs) besides… Read more »

HCM City readies land to expand infrastructure at IPs and EPZs, attract investment

An industrial park in HCM City. — VNA/VNS Photo Manh Linh HCM City authorities promise to offer competitive land rentals and other incentives at industrial parks (IPs) and export processing zones (EPZs) besides… Read more »

Residence-hotel complexes attract HCM City’s expats

The Grand Manhattan, a complex with housing and a hotel in District 1, HCM City. The five-star Avani Saigon Hotel will come up between floors 3 to 7 in the building. Developing and… Read more »

Novaland has successful first half 2020 thanks to M&A strategy

The Grand Manhattan by Novaland in District 1. Real estate developer Novaland Investment Group Corporation has reported consolidated revenues of nearly VND4.4 trillion for the first half of the year. In its financial… Read more »

Ministry of Construction eyes building low-cost housing

Low-cost commercial apartment projects are expected to provide many preferential policies on land use fees, taxes and construction investment procedures. — Photo The Ministry of Construction (MoC) is completing a draft resolution… Read more »

Dot Property awards honour best developers, developments in VN

Representative for Sunshine Homes accepting the Special Recognition Award for Smart Green Solution. — VNS Photo The 2020 Dot Property Vietnam Awards were given away in HCM City on July 23 to developers… Read more »

Apartment supply in Ha Noi to surge in H2 meeting higher demand: Savills

In the second half of this year, about 24,200 units from four existing, and 18 future projects will enter Ha Noi’s market.— Photo zing news The apartment supply in Ha Noi is expected… Read more »

Novaland signs up Centara Hotels & Resorts to manage NovaHills Mui Ne Resort & Villas

Centara Hotels &Resorts to manage NovaHills Mui Ne Resort & Villas from Q1/2021 -à signed contract already since Q1 2020, will manage operation started from Q1 2021 Novaland Group and Centara Hotels &Resorts… Read more »

Viet Nam property market increasingly attractive to foreign capital

Viet Nam’s ranking continues to rise in the list of transparent property markets, making luxury projects more attractive to foreign investors. Viet Nam has for the first time been named a “Semi-Transparent” market… Read more »

HCM City seeks to sort out mess over apartment maintenance funds

An apartment building in HCM City’s Go Vap District. — Photo The HCM City Department of Construction wants the People’s Committee and Ministry of Construction to enact coercive regulations to ensure apartment… Read more »

Construction begins on new urban area in An Giang

Construction on the Sao Mai Tay Cai Dau New Urban Area project in An Giang Province began on July 12. — Photo Construction began on the Sao Mai Tay Cai Dau New… Read more »

Novaland wins best performing companies award for 4th year

Novaland is named one among 50 best performing companies Novaland Group, a giant real-estate developer in the country, has recently been named one among “50 Viet Nam’s Best Performing Companies”, an award by… Read more »

Ha Noi condominium market has recovery in Q2

In Q2 Ha Noi’s market had a total of 5,100 sold units, more than double that of the previous quarter. — Photo The new launch of condominiums in the second quarter of… Read more »

Ha Noi stops renovation and repair of old villas

An old house in Au Trieu Street that has been repaired. — Photo Villas and architectural works built before 1954 in Ha Noi will not be licensed for renovation and repair in… Read more »

Domestic property market faces uncertainty

Apartment buildings in Ha Noi. Foreigners’ housing demand is increasing on the domestic property market. — VNA/VNS Photo Huy Hung The domestic real estate market is hoped to have growth in the fourth… Read more »

Ha Noi moves towards approving construction of third Aeon Mall

The location of the mooted project. — Photo The proposed construction of a parking lot and the Aeon Mall Hoang Mai Trade centre will soon be decided upon by the Ha Noi… Read more »

Ha Tinh eyes $43 million resort project

The planned Wyndham Costa Ha Tinh high-class marine resort project. — Photo Ha Tinh Province People’s Committee The Onsen Fuji Services Travel Joint Stock Company has proposed investing in a high-class marine resort… Read more »

Allowing foreigners to buy tourism property developments needs careful consideration

The Ministry of Construction recently proposed amending the laws on housing and real estate business, allowing foreign individuals and institutions to buy tourism property developments to aid the declining market. — Photo… Read more »

COVID-19 could shake up realty rent market

A retail site in Doi Can Street is offered to other tenants. — Photo Le Thu Cuc pastes a notice in her cafe to tell her customers she will continue serving them… Read more »

State to encourage construction of cheap apartments

Social housing projects in Dong Anh District, Ha Noi for workers in Thang Long Industrial Park. The State will focus on the development of cheap commercial housing projects. — VNA/VNS Photo Danh Lam… Read more »

Marketing now a must for homestay owners due to COVID-19 pandemic

Nguyen Thanh Hang hired a professional photographer to promote her Sapphire Villa, C21 in Tam Dao Golf Course in Vinh Phuc Province. — Photo courtesy of the villa As she owns one of… Read more »

Property firms return to market after Covid-19

The property market would see increased competition in the post-pandemic period, experts said. After a brief hiatus, property companies have been resuming sales of developments and revealing their post-COVID-19 business plans since… Read more »

Housing projects proposed to sell land parcels: Ministry

A land lot in Da Nang. Housing projects are proposed to sell land lots. — Photo Housing projects not located in any urban districts, except Ha Noi and HCM City, are permitted… Read more »

Foreigners allowed to own homes in 22 commercial housing projects

The outside of the Terra An Hung – Ha Dong project in late April, one of the 22 commerical housing projects which foreign buyers are allowed to purchase. — Photo The Ha… Read more »

Top 10 most reputable building contractors 2020 announced

A property project constructed by Hoa Binh Construction Group. The group topped the list of Viet Nam’s Reputable Building Contractors in 2020. — Photo Hoa Binh Construction Group has topped the list… Read more »

Many prestigious partners to distribute Novaland’s products

Giant property developer Novaland Group on Friday has cooperated with a number of prestigious distribution agents to bring better services and information about its projects to customers around the country. The contracts are… Read more »

Novaland cooperates with prestigious agents to deliver real estate projects

Giant property developer Novaland Group on Friday has cooperated with a number of prestigious distribution agents to bring better services and information about its projects to customers around the country. The contracts are… Read more »

Hau Giang Province overrun with property projects

The number of property projects in Hau Giang Province exceeds demand. – Photo The number of property projects in Hau Giang Province surpasses actual demand, experts have said. Hau Giang Province has… Read more »

Investors need to consider carefully before buying old apartments: experts

Ha Noi has more than 1,500 old apartment buildings. — Photo Experts have recommended investors consider carefully before buying old apartments to ensure investment efficiency. One of the main issues is that… Read more »

Real estate firms gear up for the race after pandemic

The impact of the COVID-19 pandemic on the real estate market was forecast to be short term only. – Photo Property firms are gearing up to tap opportunities from the post-pandemic recovery… Read more »

Demand for ready-built factories and warehouses increasing: CBRE

Kim Dong Industrial Zone in the northern province of Hung Yen. The number of leasing enquiries of other industrial properties dropped due to the travel ban and social distancing. — VNA/VNS Photo Pham Kien… Read more »

Hotel market to recover next year

A resort in Nha Trang. The hotel market is expected to face a severe decline in room occupancy due to the pandemic and will not recover until next year. — Photo The… Read more »

Apartment lease in HCM City has few takers

In HCM City, many people are returning apartments they rented to landlords, and the condo leasing market is in trouble. — Photo The HCM City apartment lease market has been hit hard… Read more »

Phu My Hung launches special sales programme

Phu My Hung Development Corporation has launched a special new sales programme called “Privilege Programme” to thank customers on the occasion of its 27th anniversary. The giant developer said the programme would be… Read more »

PropertyGuru Asia Property Awards Vietnam edition rescheduled due to pandemic

A new timeline for the sixth PropertyGuru Vietnam Property Awards. — Photo courtesy of the organiser The Vietnamese edition of PropertyGuru Asia Property Awards, the region’s leading real estate awards, has been postponed… Read more »

State should control corporate bond issuance of property firms: MoC

Social housing buildings in Dong Anh District, Ha Noi. The domestic property market has a shortage of social housing and low-cost commercial housing projects. — VNA/VNS Photo Danh Lam The Ministry of Construction… Read more »

Property developers go on hiring binge as they wait for post-pandemic recovery

A property project in HCM City. Many property companies are recruiting large numbers of new staff to prepare for new projects. – VNS Photo Many property companies are announcing plans to hire new… Read more »

Tenants moving out of commercial spaces despite rent cuts

Landlords with properties on the streets of Hang Ngang, Hang Dao and Hang Gai have had to cut rents to attract tenants.— Photo Many of the most expensive and best-selling commercial spaces… Read more »

Social housing development important to driving market out of difficulties

Buyers of a social housing project in Nha Trang complete procedures to receive their apartments. – VNA/VNS Photo Nguyen Dung Social housing could be the solution to driving the real estate market out… Read more »

61 per cent of customers not offered relief by landlords: CBRE

Around 61 per cent of respondents have not been offered relief by landlords, a flash survey of the impacts of COVID-19 done by CBRE has found. The consultancy said the survey polled its… Read more »

Eco-smart city: A new living and investment trend

Living in large, eco-smart urban areas is forecast to become a new trend thanks to their professional planning, green spaces and modern facilities. Eco-smart urban areas have, in fact, been developed for many… Read more »

Property developers ask for loosening of corporate bond policies

Phu My Hung Urban Area in HCM City. The real estate market in HCM City froze in the first quarter as demand and purchasing power tumbled due to COVID-19. — VNA/VNS Photo The… Read more »

HCM City assures hurdles faced by property developers will be cleared this month

HCM City will resolve the difficulties faced by property developers and projects this month, Nguyen Thanh Phong, chairman of the city People’s Committee, has promised. — VNS Photo Van Chau The HCM City… Read more »

Housing prices unlikely to drop despite pandemic: experts

HanHomes Giang Bien in Long Bien District, Ha Noi. Despite the COVID-19 pandemic, experts believe that housing prices will not drop significantly. — VNA/VNS Photo Minh Nghia Experts believe that the real estate… Read more »

Agricultural land price increases during COVID-19

A house built on agriculture land in Da Lat. Increasing demand to stay in rural areas has caused agriculture land prices to rise on the market. — Photo courtesy of Facebook Group ‘Leaving… Read more »

Vinhomes launches online real estate transaction floor

An image of Vinhomes Ocean Park in Ha Noi’s Gia Lam District. — Photo Vinhomes Vinhomes Joint Stock Company launched its online real estate trading floor today, connecting investors with customers through computer screens… Read more »