In another sign the Vietnamese real estate market is on the up, the Ministry of Construction recently announced there are currently 3,077 real estate development projects underway. The total investment of these projects stands at VND 3.3 quadrillion (USD145.3 billion) and highlights the strong growth and robust property market.
There were a total of 64,000 real estate transactions completed in Ho Chi Minh City and Hanoi last year, which was up by 24,000 transactions when compared to 2016. Property prices remained stable while low-cost housing projects were in high demand throughout Vietnam. However, Prime Minister Nguyen Xuan Phuc noted that it was important for the country’s real estate market to control the supply of high-end housing launched. He added more social and low-cost housing for low-income people is needed in Vietnam.
“VND 1.2 trillion of the VND 2 trillion package for the social housing program approved by the National Assembly has not been disbursed,” Nguyen Tran Nam, chairman of the Vietnam Real Estate Association, was quoted as saying by the Saigon Times. VND 600 billion should be used for social housing projects and the remaining VND 600 billion should be used to offer preferential interest rates for buyers of low-cost homes.”
Affordable housing, green developments popular real estate projects
Developer EZ Land’s HausNeo development has been recognised for both its quality and affordability. The inspiration for the development came from housing projects in modern countries that are recognised for the quality standard for their homes. HausNeo was honoured at Dot Property’s Southeast Asia’s Best of the Best Awards 2017 as Best Mid-Market Condo Development.
Meanwhile, Gotec Vietnam’s latest development, Asiana Capella, leads the way when it comes to green projects in the country. The mixed-use complex utilised several environmentally-friendly innovations that stand out and allowed Asiana Capella to win Best Green Development at Dot Property’s Southeast Asia’s Best of the Best Awards 2017.
