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.
Foreign investors to be granted permanent residence cards is one of proposals just submitted to the Government to aim at attracting investment capital, foreign talented business people and high-profile experts to Phu Quoc special economic zone in the future.
Several real estate enterprises have been expecting to sell houses to foreigners since the amended 2014 Housing Law came into effect; however, so far, this expectation remains beyond a reach because of unresolved restrictions.
The land prices promulgated by the People's Committees of provinces and cities are far different from the actual transaction prices on the market and such a practical swing is resulting in shortcomings and corruption to incur losses to the State budget.
“Most of the Vietnamese people lack experience in living in condominiums so they usually feel annoyed when following its rules and need time to adapt to them,” said Stephen Wyatt, Country Head of Jones Lang LaSalle (JLL) Vietnam, an American professional service and investment management company specializing in real estate.
FLC, one of the leading real estate developers in Vietnam, is investing in the 6.4ha urban area including terraced houses, villas, high-rise buildings and subsidized houses that are expected to finish at the end of quarter 2, 2019.
Thousands of successful real estate deals have been closed relevant to foreigners but up to date a modest number granted home-ownership certificates may hinder foreigners' eagerness.
A package of VND2 trillion (roughly US$88 million) supporting social housing projects has just been approved by the National Assembly. The Ministry of Construction demanded Vietnam Bank for Social Policies to disburse the capital this year.
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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