Vietnam has quickly become the hottest real estate market in Asia to Hongkong and Chinese investors with the price hitting new records.
It is over a year since Le Truc Garment Joint Stock Company, investor of the Discovery Complex II (8B Le Truc) building project, conducted the legal proceedings against Decision No. 2673 of Ba Dinh District People's Committee; However, there has no action taken by the court.
Head of the Finance Ministry's Tax Policy Department Pham Dinh Thi affirmed that the Ministry of Finance has not announced any taxes on the second home.
Le Truc Garment Joint-Stock Company, investor of Discovery Complex II building (located on No. 8B Le Truc, Ba Dinh district, Hanoi) has accused Ha Noi city’s competent authorities of breaking the commitment and doing illegal retroaction of the project.
The completion of relevant procedures relevant to compensation and land clearance, payment of land use levy and land use rights remains stagnant in deadlocks which have constrained “clean” land plots on delivery to foreign investors affecting inflow of capital into the local real estate market.
A 7,500 hectare project worth US$30-40 billion in southern Hanoi which was planned by Daewoo years ago is facing a "premature death".
On August 19, 2017, Phu Long Real Estate Co., Ltd (Phu Long Real Estate) and Saigon Vina Land Joint-Stock Company (Land Saigon) jointly conducted the groundbreaking of Dragon Riverside City at 628-630, Vo Van Kiet street, District 5, Ho Chi Minh city (HCMC).
Giant groups from Japan, China, Thailand,… continue planning to make large investments in real estate projects in Viet Nam
The proposal for the two-percent VAT increase from January 1st, 2019 of the Ministry of Finance (MoF) may lead to a rise in real estate prices, which tremendously affects the economy, businesses and the daily life of the people.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
Editor-in-Chief: Nguyen Cao Cuong
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