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Ho Chi Minh City apartment rental market hit hard by COVID-19

The COVID-19 pandemic has left the city's residential leasing industry stagnant ....

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Poor people lose chance to buy houses with funds from gov't preferential credit package

Poor people lose chance to buy houses with funds from gov t preferential credit package
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13/05/2021

09:00
GMT+7
As the VND30 trillion preferential credit package has ended, many realtors and clients have fallen into a difficult situation.
Nguyen Thu Hai, from Ha Dong district, Hanoi, said she has been looking to buy social housing for the last year, but it has been difficult to satisfy the requirements to access the projects. The biggest problem was that she could not access preferential credit programs with low interest rates like the Government s VND30 trillion package. ....

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'Land fever' is subsiding

Land fever is subsiding
11/05/2021

09:01
GMT+7
The real estate market has begun cooling down after a long hot spell.
At the first quarter regular press briefing organized by the Ministry of Natural Resources and Development (MONRE) some days ago, Mai Van Phan, Deputy General Director of the General Department of Land Administration, said that land fever halted after local authorities were instructed to publicize information about urban development planning, land-use plans and land prices.
He said the department has received reports from some localities about the local land price performance and it is still waiting for more reports before analyzing the reasons behind the recent land fever. ....

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Hanoi to review housing projects for foreigners

The city will control foreign investment in the real estate area as well as their transfer of collected money abroad to prevent money laundering, transfer pricing and tax evasion. ....

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Predominance of luxury housing sparks doubts about sustainability

Predominance of luxury housing sparks doubts about sustainability
By Trung Tin May 5, 2021 | 09:00 pm GMT+7
An artist’s impression of a luxury apartment project in District 1, Ho Chi Minh City. Photo courtesy of Keenland.
An increase in the number of luxury apartments this year has sparked fears of oversupply and market unsustainability.
The luxury segment accounted for 39 percent of total apartment supply in HCMC in the first quarter, and the high-end segment for 20 percent, according to data from real estate consultancy CBRE.
Even half a decade ago luxury housing had accounted for a mere 1-2 percent of the market.
The first quarter also saw the highest ever price for an apartment of $18,000 per square meter and the emergence of branded residences or luxury apartments associated with international management brands. ....

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