According to the apartment market report of global commercial real estate services firm Cushman & Wakefield Vietnam, there was a decrease in housing supply in Ho Chi Minh City in the second quarter of 2023.
The HCMC Department of Natural Resources and Environment has submitted to HCMC People’s Committee for considering a list of rice-growing land lots to change land use purposes in 45 projects.
The HCMC’s apartment market saw an improvisation in the new supply resource with nearly 2,900 residential units that are now available for sale in the first quarter of 2023 (Q1 of 2023).
Information relating to the loosening of credit room, and commitments from the Ho Chi Minh City (HCMC) People's Committee and other agencies on removing hurdles to transactions have led to experts' positive views on the future of the property market.
No longer as dreary as before the Lunar New Year, now the commercial real estate rental market in Ho Chi Minh City has rebounded again when the epidemic has been controlled.
The industrial real estate sector will likely continue to pick up in the remaining months of the year thanks to the ongoing global supply chain disruption and diversification, and the trade deals that Vietnam has signed, experts said.
Amid a new wave of investors arriving in Vietnam to explore its opportunities for foreign businesses, Ho Chi Minh City has strong potential to attract investment and drive innovation and sustainable growth, experts said.
Despite the current complicated Covid-19 pandemic, the commercial real estate rental market in Ho Chi Minh City has gradually recovered at the end of the year.
Vietnam jumped four places to rank 56th globally, according to the Global Real Estate Transparency Index by JLL and LaSalle Investment Management, amid improving building standards across Asia.
Ho Chi Minh City authorities have basically achieved good results of building various types of houses within the ten recent years to meet city dwellers’ growing demand following the population growth.
According to the Department of Construction of Ho Chi Minh City, from the beginning of last year to now, it has verified 42 projects that are eligible to raise capital for future products of 23,046 houses, including 21,821 apartments, 883 houses and 342 villas, worth more than VND56.25 trillion.
According to the Ho Chi Minh City Real Estate Association (HoREA), the city is unlikely to see any major increase in supply of commercial real estate in ten first months of the year compared to the same period last year.
Vietnam’s real estate sector has witnessed significant participation from Japanese investors through cooperation with Vietnamese businesses recently, promising to bring benefits to the real estate market.
The market segment for offices and retail space for lease in Hanoi has seen stable rental prices for grade A and B office buildings in the third quarter of the year, according to the CB Richard Ellis Vietnam, Co., Ltd (CBRE)- the world’s largest commercial real estate services and investment terms.
