Property News

Property developers are eyeing the remittances overseas Vietnamese traditionally send before Tet (the Lunar New Year).

Real estate inventory has decreased more than 26 percent compared with the first quarter 2013 quarter, mainly in the segment of small and medium sized apartments, said Minister of Construction Trinh Dinh Dung.

Real estate companies in HCMC at a roundtable meeting on Monday with the leaders of Vietnam’s National Financial Supervisory Committee (NFSC) expressed their worries over the property industry and proposed solutions to remove shortcomings of related policies to prop up the struggling market.

Industry experts are predicting that 2014 will continue to see raised liquidity in the real estate market, particularly in the low and medium-cost housing segment. VIR talked with some industry players to hear their predictions for the new year, and which government policies could affect the industry’s fortunes.

The real estate sector's inventory reached VND94.458 trillion (US$4.48 billion) on December 15, 2013, registering a decrease of 26.5 per cent over the first quarter of last year, according to Trinh Dinh Dung, Minister of Construction.

Prime Minister Nguyen Tan Dung and many other government officials agreed on loosening regulations for foreigners on home-ownership in Vietnam.

The business improvement in 2013 has fortified the belief of real estate trading companies that trading volumes will continue rising next year when a part of the tough market conditions are tackled.

Interest in the property market in the central city is expected to rise in low and medium priced neighborhoods after the Da Nang People's Council announced new rates for 2014.

Many real estate investors have been racing to launch apartment and land lot projects onto the market in a bid to attract homebuyers at the end of the year.

A revised version of the Housing Law will soon allow foreigners and overseas Vietnamese to buy houses in Viet Nam.PM Nguyen Tan Dung and other government officials have agreed that the Ministry of Construction will introduce the revised regulation.