HausLand officially opens new year of the Dragon 2024

A new year full of promise, energy and new opportunities await.

Wishing staffs a year of prosperity, happiness and great success.

HausLand Announcement of Lunar New Year Holiday Schedule:

The Classia – a valuable piece at the heart of Thu Duc City.

Absolutely, infrastructure plays a crucial role in determining the value of real estate, especially in areas experiencing development. Well-planned and efficient infrastructure, including roads, public transportation, utilities, and amenities, can significantly enhance the desirability and value of properties in a given area. This is because good infrastructure improves accessibility, convenience, and overall quality of life for residents, making it an important factor for both homebuyers and investors to consider.

On September 17, 2023, the Ho Chi Minh City Department of Transport organized the inauguration ceremony for the parallel road of the Ho Chi Minh City – Long Thanh – Dau Giay expressway, from Nguyen Thi Dinh Street to Do Xuan Hop Street, An Phu Ward, Thu Duc City.

The opening and use of this section will contribute to completing the transportation network of Thu Duc City in general, and the An Phu interchange area in particular. It will help alleviate the traffic load on the expressway access road, reduce traffic congestion at the An Phu interchange, provide smooth traffic flow on adjacent roads such as Nguyen Thi Dinh, Do Xuan Hop, Mai Chi Tho, and facilitate convenient connections to Belt Road 2 while synchronizing with the An Phu interchange.

Embrace the future with The Classia by Khang Dien!!

The Classia is located in the central connecting point of Thu Duc City, with complete infrastructure, well-organized legal documentation, and ready for handover to customers. Alongside the development of infrastructure in Thu Duc City, the value of homes at The Classia will increase day by day.

Learn more about the project: theclassia.khangdienvietnam.com

Lam Dong has requested relevant units to simultaneously install boundary markers for land clearance outside the actual terrain for the Tan Phu Bao Loc expressway and Bao Loc – Lien Khuong expressway routes.

On May 27th, the Lam Dong Provincial People’s Committee stated that it has issued a directive requesting the Project Management Board of the Provincial Transport Project to coordinate with the People’s Committees of districts and related cities to urgently implement the simultaneous installation of temporary boundary markers according to the design plan for land clearance compensation. This will serve as the basis for preparing documentation and procedures for land clearance compensation for the Tan Phu Bao Loc expressway and Bao Loc – Lien Khuong expressway projects.

The province has set a deadline of June 30th for completing this task in order to finalize the documentation and procedures for project commencement in September 2023.

According to the Lam Dong Provincial People’s Committee, the construction project of the Tan Phu – Bao Loc and Bao Loc – Lien Khuong expressways has been identified as a key project according to the Resolution of the 11th Provincial Party Congress of Lam Dong Province for the term 2020 – 2025. Completing the documentation and procedures for project commencement is a particularly important political task for the province in 2023. However, the progress in completing the feasibility study report for the project and implementing some related documentation and procedures has been slow and has not met the requirements.

Commencement of Tan Phu Bao Loc Expressways and Bao Loc – Lien Khuong Expressways

The investment project for the construction of the Tan Phu – Bao Loc expressway has a length of about 66km (11km within Tan Phu District, Dong Nai Province; 55km within Lam Dong Province – passing through districts: Da Teh, Da Huoai, Bao Lam, and Bao Loc city). The road is built according to highway standards (TCVN 5729:2012) with a design speed of 80km/h. In phased stages, the road will have a foundation width of 17m with 4 lanes for automobiles. The total investment for the phased stages is 17.2 trillion VND (State capital participation: 6.5 trillion VND, including 2 trillion VND from the central budget and 4.5 trillion VND from the Lam Dong provincial budget); owner’s equity: 1.605 trillion VND, and 9.095 trillion VND from mobilized sources). The completion phase will have a wider road cross-section of 22m (4 lanes for automobiles and 2 continuous emergency stopping lanes).

Meanwhile, the Bao Loc – Lien Khuong expressway project has a length of 73.4km, starting from the interchange with the Tan Phu – Bao Loc expressway and ending at the interchange with the Bao Loc – Lien Khuong expressway; passing through Bao Loc city and districts: Bao Lam, Di Linh, and Duc Trong. The road is constructed according to highway standards (TCVN 5729:2012) with a design speed of 100km/h. The cross-section scale for the completion phase consists of 4 lanes with a roadbed width of 24.75m; phased investment for phase 1 with a roadbed width of 17m, operating speed of 80km/h, and emergency stopping locations arranged every 4 – 5km in the same direction of travel. The total investment for phase 1 of the project is approximately 19.521 trillion VND (State capital is about 7.761 trillion VND, with the provincial budget contributing around 4.000 trillion VND).

Both expressway projects are carried out to gradually develop a comprehensive infrastructure system, enhance connectivity, reduce travel time connecting the Central Highlands provinces with the key economic region in the south and economic, social, and industrial centers along National Highway 20. This aims to improve the capacity for transporting goods, trade, and foreign relations, meeting the increasing demand, reducing congestion and traffic accidents on National Highway 20, which is currently overloaded, especially at traffic hotspots in the Bao Loc pass area.

Simultaneously, upon the completion of the two expressway routes (expected in 2026 and 2027), it will generate a significant boost to economic and social development, catalyze tourism in Lam Dong province specifically and the Central Highlands region as a whole. It will play an important role in expanding the urban space, constructing, and developing Da Lat city into a modern urban area.

Explore available land and garden properties in Bao Loc at: www.datvuon-baoloc.com.vn.

Autumn Melody – Event De La Sol 19/08/2023

De la Sol project currently has just over 10 units of ALTO & CELLO towers, to facilitate customers who want to own apartments directly from CapitaLand Investor at De La Sol project, CapitaLand will organize a mini event with the following information:

• Time: 9 AM on Saturday, August 19, 2023
• Address: Level P2 Oxygen belongs to The Vista An Phu project, 626C Vo Nguyen Giap (Old Hanoi Highway), p. An Phu, City. Thu Duc, HCMC

This is one of the last opportunities to own De La Sol apartment, the top project in the central district of the city:

To participate in the event and look for opportunities to own De La Sol apartments. Please register as soon as possible via hotline: +84 935 45 96 86 – or visit website: www.de-la-sol.vn

Sycamore CapitaLand project has received two real estate awards.

CapitaLand Development has been awarded the ‘Outstanding Residential Project’ and ‘Outstanding Environmentally Friendly Residential Project’ awards at the 2022 Asia PropertyGuru real estate finals for Sycamore Binh Duong project.

This is the third time CapitaLand Development (CLD) – the real estate development arm of CapitaLand Group – has been recognized at PropertyGuru, an award that brings together top real estate developers in the region.

Mr. Ronald Tay, CEO of CLD Vietnam, shared that the received awards once again affirm the company’s commitment to creating quality projects for future homeowners and emphasizing environmental concerns – a core element of the group’s activities. “We integrate green space solutions right from the design phase to promote sustainable living. With over 28 years of development experience in Vietnam, we always strive to deliver projects with internationally acclaimed designs on our journey to becoming a top trusted investor,” Mr. Ronald Tay added.

Sycamore is located in the new city of Binh Duong, about 30km from Ho Chi Minh City. With a total area of 18.9 hectares, CLD’s first large-scale residential project is expected to consist of over 3,700 apartments and long-term homes built in low-rise, mid-rise, and high-rise projects, providing quality living spaces for around 13,000 residents. The Sycamore project is expected to launch in the second quarter of 2023, with the initial phase targeted for completion in 2024 and the entire project expected to be completed by 2027.

Aiming for upscale resort-style design, a representative from the project stated that Sycamore comprises seven zones with separate entrances. Two zones include combinations of townhouses, semi-detached houses, and spacious villas with private clubs and gardens. Four zones feature 24-story towers for residents who enjoy high-rise living, accompanied by dining facilities and retail stores such as convenience stores, cafes, restaurants, and spas. The seventh zone will be designed as a 10-story apartment building.

According to the developer’s representatives, sustainable and environmentally-friendly features will be integrated into the Sycamore project. For instance, a central park spanning 10,000 square meters within the mid-rise residential zone will serve as a gathering place for residents to connect with the community and relax. The Sycamore project also offers numerous green spaces that contribute to lowering the ambient temperature and enhancing the well-being of the residents.

CapitaLand partners with Becamex to Develop Sycamore Project in Binh Duong

The transportation infrastructure is also being developed to encourage residents towards a sustainable lifestyle. The Sycamore project promises to be one of the first projects with infrastructure dedicated to electric vehicles in the new city of Binh Duong. Bicycle lanes and pedestrian-friendly sidewalks will also be constructed to encourage residents to use cars and motorcycles for short distances. An electric vehicle system will also be implemented for residents to move between the two low-rise residential areas. Rainwater will be collected and reused to irrigate parks and other green spaces. Sycamore also aims to achieve the EDGE certification from IFC, a member of the World Bank Group.

The developer of the Sycamore project, CapitaLand Development, is a branch of CapitaLand Group, with an investment portfolio of around SGD 21.3 billion as of September 30. The company possesses a wide range of development capabilities, including integrated projects, retail areas, office spaces, residential areas, commercial spaces, industrial areas, and data centers.

CLD Vietnam oversees and develops investment and development activities in Vietnam, a core market where the group has built a presence for over 28 years. The investment portfolio in Vietnam includes retail areas, Soho model projects – a combination of office and residential spaces, 2 complex projects, and over 13,000 quality apartments in 17 residential projects in Hanoi and Ho Chi Minh City. With expertise in comprehensive planning, land planning, and project development, the unit has earned numerous prestigious awards, including the Asia-Pacific Property Awards, Asia PropertyGuru Awards, Vietnam PropertyGuru Awards, and Golden Dragon Award.

“As part of the group’s development philosophy, CLD places sustainability at the core of its business activities. The unit partners with the group in contributing to environmental and social welfare issues in countries where the group operates, aiming to provide long-term economic value to stakeholders,” shared a representative from CLD Vietnam.

For more information about the Sycamore project in Binh Duong, visit: www.sycamore-capitaland.com.vn

De La Sol Project Update And Some Latest Pictures

De La Sol Project Update, and some latest photos, workers are still working day and night to hand over on time to residents in November 2023.

De La Sol Project Update | Price List Updated August 2023 (Some units sell at a loss / BUY ORIGINAL PRICE IN 2018)

Projects Detail: https://de-la-sol.vn/
De La Sol Apartments List 75 units for re-sale, sold several hundred million different from the original price of the investor in 2018 (95% payment in 2023).

APARTMENTS LIST RE-SALE OF ALTO TOWER – DE LA SOL

APARTMENTS LIST RE-SALE OF CELLO TOWER – DE LA SOL

Opportunity to own the last remaining apartments with only 10% payment in 2018 and a discount of up to 3%.

For more details, please contact: www.de-la-sol.vn. HausLand accompanies customers from primary to secondary market, for rent and re-sale.

For nearly three decades in Vietnam, CapitaLand Development, the Singapore-based developer, has been developing a series of high-end real estate projects in the country’s two major economic centers.

Entering the new decade, CapitaLand Development continues its journey of creation in satellite areas, exemplified by the “industrial capital” – the new city of Binh Duong.

3 decades embellishing life

Jewel Changi Airport (Singapore) or the “horizontal skyscraper” Raffles City (Chongqing, China) are two of over 1,200 projects bearing CapitaLand’s mark in 41 countries.

The Singapore-based diversified real estate group has established a leading position and scale in Asia with its two business arms: CapitaLand Investment (CLI) – managing a portfolio of over $96 billion in investments, and CapitaLand Development (CLD) – owning a real estate development portfolio worth over $16 billion.

Throughout its 30-year presence in Vietnam, CLD has showcased strong financial capabilities alongside expertise in design and construction. The company continuously expands its project portfolio, delivering quality work, living, and leisure spaces for the community.

To date, CLD’s real estate portfolio in Vietnam includes a retail precinct, a SOHO concept project – a product combining office and residential spaces, three mixed-use developments, and 17 residential projects comprising over 13,000 apartments. Some notable projects include: The Vista, Vista Verde, Feliz en Vista, D1Mension, d’Edge Thao Dien, D2eight, De La Sol, Define, Zenity, Heritage West Lake…

Each project carries the distinctive mark of CLD, with characteristic design and quality guaranteed by a series of international awards. Among them, Heritage West Lake – a luxury apartment project in Hanoi – is certified as a “Green Building” by the Singapore Building and Construction Authority (BCA). In the heart of Ho Chi Minh City, the Define luxury apartments (Thu Duc District) have achieved BCA certification and boast the highest number of swimming pools in the country, while Zenity (District 1) features lavish interior design and has been recognized by the PropertyGuru Property Awards.

With a vision to create a sustainable living environment, CLD emphasizes sustainability in all investment and design stages, from land development to project operation. This is evident in CLD’s leading number of BCA-certified green buildings in the market. These buildings use environmentally friendly construction materials, incorporate energy-saving sensor systems, and have waste management measures in place.

Sustainable development strategy

As one of the core markets, CLD recognizes Vietnam’s potential and strives to continue its journey of development after nearly three decades. Specifically, over the next 5 years, the company aims to increase Vietnam’s contribution to the total investment portfolio of the group to 15%.

Additionally, CLD continues to explore opportunities and potential in urban design, planning, and development. The group also takes advantage of investment opportunities in emerging economic sectors such as logistics, data centers, and industrial parks.

With the premise of development in the two economic powerhouses of Vietnam, Ho Chi Minh City and Hanoi, CLD’s journey of creation extends to satellite areas with high growth rates. A notable example is in December 2021 when CLD announced the acquisition of potential land in the industrial hub of Binh Duong to develop its first large-scale residential project in Vietnam.

The large-scale residential project of CLD is strategically located in the center of the modern and intelligent city of Binh Duong, which focuses on science and technology. With rapid urbanization, there will be an increasing demand for quality housing with optimized designs. The CLD residential project promises to inherit the sustainable legacy of the corporation and contribute to building a strong community in the region while elevating the position and appearance of Binh Duong.

De La Sol Construction Update on June 2023

CapitaLand updated the latest construction progress in July 2023. The project is currently in the finishing stage and expected to be handed over at the earliest.

– For more information, please contact   (+84) 938 47 88 39 or visit  www.de-la-sol.vn

HausLand Health Check-up for All Staffs and Management

On April 15 and 17, 2023, HausLand Real Estate Investment Company, in collaboration with Hoan My Sai Gon General Hospital, organized the 2023 health check-up program for all staff and management working in Ho Chi Minh City and Bao Loc City, Lam Dong Province.

HausLand has selected the Comprehensive Medical Check-up package for all staff and management at Hoan My Saigon General Hospital. The staffs participated in a comprehensive health examination, including ultrasound and in-depth testing, conducted by a team of skilled doctors and nurses with extensive experience. This ensured the quality of the examinations and provided a conclusive assessment of staffs’ health conditions. Through these check-ups, all staff had the opportunity to personally meet with doctors, receive an overall evaluation of their current health status, and identify any potential health risks in order to make necessary adjustments to their lifestyle and work routines. Additionally, the company was able to effectively manage the current health status of staffs and develop specific plans to enhance overall work productivity.

It can be seen that organizing health check-ups is not only a legitimate welfare benefit provided by HausLand to all staff but also a demonstration of the company’s caring and attentive of Management aims to motivate each member of the team to maintain good physical and mental health, which in turn fosters motivation, job satisfaction, and dedication. By ensuring the well-being of its employees, the company creates a conducive environment for them to work, contribute, and actively participate in the company’s growth and development.

(News) – Embodying the spirit of Zeit Living with its four core values: Zenith, Experience, Innovation, and Timelessness, Thu Thiem Zeit River brings a groundbreaking architecture that creates an exquisite living space for the affluent residents.

Elegant architecture stands out in the heart of Thu Thiem

Real estate investors appreciate Thu Thiem Zeit River for its romantic design, featuring exquisite curved lines that resemble a unique flower shape in the “heart” of Thu Thiem. This “flower” holds a prime position in the new urban area, offering panoramic views of the Saigon River and the vibrant city.

“A key strength of the design is the careful calculation of the distance between the two towers and the apartments to ensure the circulation of fresh air and the capture of sunlight throughout the space,” shared representatives of VGSE (a subsidiary of GS E&C in Vietnam), the investment and development entity responsible for the project.

In addition to emphasizing the creative element reflected in the architectural design inspired by vibrant natural colors, capturing sunlight, and embracing all emotions, the representative believes that the significance of the experiential aspect and the enjoyment of the Zeit Living lifestyle (E – experience) also brings a sense of happiness to successful homeowners when introducing their homes as “This is my home.”

Designing “chill” corners in luxury apartment complexes such as BBQ areas, swimming pools, and parks seems to be one of the essential amenities for developers to showcase the quality and prestige of the project. At Thu Thiem Zeit River, the competitive edge in terms of residential amenities is further enhanced, as not just one, but four amenity areas are thoughtfully arranged on the ground floor, 5th floor, 19th floor, and 20th floor.

The high-end ecosystem of amenities stretches from the infinity pool, pedestrian walkways, children’s play area, ground floor café zone, to outdoor BBQ area and sports facilities on the 5th floor. It includes the relaxing hanging garden on the 19th floor, the sky pool, city-facing gym, and the sky lounge on the 20th floor. All of these aim to provide a “comfortable home-like experience with resort-like luxury.”

The design features four distinct utility spaces that are separate yet contribute to connecting people with nature, emphasizing the timeless element of Zeit Living in vibrant green surroundings. With low building density and optimized green spaces in public areas, every moment spent in life alongside the Thu Thiem Zeit River home allows residents to be satisfied with their investment.

Integrated with advanced management and operation technologies, Thu Thiem Zeit River establishes a complete system of parking guidance, smoke extraction in basements and corridors, air filtration, ventilation, and heat recovery systems. It also features smart and modern standards for elevators and emergency rescue buttons, providing peace of mind for residents’ lives.

Living spaces with a strong personal touch.

With people as the key element and the spirit of Zeit Living spreading as a catalyst for life, Thu Thiem Zeit River sets high “pressure” standards for itself, but also appreciates the challenge that living spaces should not only be aesthetically pleasing but also touch the hearts of each homeowner.

“Each apartment in Thu Thiem Zeit River has a suitable standard size. The layout of the main and auxiliary entrances to capture wind and light is a feng shui element that stands out. I imagine stepping into the apartment and gently feeling that it truly feels like home, without the sense of a rigid and oppressive concrete block, but a place of peace, where nature and modern architecture converge,” said Ms. Thuy An (38 years old, Ho Chi Minh City), a customer present at the project’s opening day.

From a real estate perspective, each apartment has meticulously selected tangible values to provide on-site amenities and comforts. Residents can appreciate even the smallest details, such as the thoughtful arrangement of the living room and adjacent kitchen to create a space that fosters family bonds, the safety and standards with intelligent lighting and motion sensors, or the modern living space with kitchen cabinets from leading European suppliers.

The unique architecture of Thu Thiem Zeit River not only brings the “smart living” style with three top standards: smart apartments, smart operations, and smart security but also creates a “green” home with a contemporary touch in the heart of the city.

Link: Thu Thiem Zeit River

Thu Thiem Zeit River attracts customers with its modern living space integrating smart technologies and clear legal framework, as well as the potential of its developer.

According to the report from JLL, in Q1, the high-end apartment market in Ho Chi Minh City welcomed 2,989 new units, mostly concentrated in the Thu Thiem area. In the future, this area will continue to receive a series of infrastructure facilities such as 4 main roads including the arc-shaped boulevard (6 lanes), the central lakefront road (4 lanes), the Saigon riverside road (facing district 1 with 2 lanes), the elevated road passing through the southern ecological park, and the Thu Thiem 3 and 4 bridges… These will be the projects that create a driving force for real estate projects in the area, especially in the context of increasingly scarce inner-city land funds.Experts predict that in this period, projects with complete legal status, completed on schedule will receive attention and high evaluation from customers, helping to increase the credibility of the investor.

Thu Thiem Zeit River has many advantages in terms of location, transportation, resources from the developer, legal compliance, and stable construction progress. The project is located on Nguyen Co Thach street, Thủ Thiêm Ward, Thu Duc City, Ho Chi Minh City, inheriting many advantages in the core area of the Thu Thiem urban area.

As one of the few projects that have completed legal compliance and started construction before being introduced to the market at the end of 2022, Thu Thiem Zeit River has gained the trust of customers with over 95% successful transactions in the first sales event.

According to the VGSE – the project’s developer, the support from the parent company’s capital – the international conglomerate GS E&C (South Korea) has helped accelerate the construction progress of the project in the context of many challenges in the market.

Thu Thiem Zeit River also focuses on integrating many smart technologies into the underground parking system, elevators, corridors, and each individual space, bringing modern and convenient living. Many electric charging stations are arranged on the B1 and B2 floors of the building to provide quick charging (within 1 hour 20 minutes) or standard charging (within 10 hours). The apartments are also equipped with Low-E glass to reduce heat and protect residents’ health and the environment, and integrated with salt electrolysis technology for the swimming pool.

The living spaces include technologies such as smart lighting systems, motion sensors, and ventilation systems for apartments, providing residents with modern and convenient living.

According to a representative from VGSE, Thu Thiem Zeit River with its unique advantages has somewhat created an attraction to investors, becoming a project that receives a lot of attention even in the midst of market fluctuations.

Source: vnexpress.net

Information about the Thu Thiem Zeit River project:

Developer: GS Enterprise Vietnam Co., Ltd (VGSE)
Hotline: 0935459686

Creativity in both architectural design and diverse amenities in the living space is always a factor that creates a unique appeal for luxury apartments in the eyes of energetic, vibrant young people.

What are young people looking for when they buy a house today?

As an important customer segment in the real estate market, today’s young generation is making their standards and choices a leading trend in the market. Rather than just viewing a home as a place to live like previous generations, today’s youth aim to own a living space that is creative, inspiring, with health care amenities and connected with cultured communities.

In response to this trend, real estate corporations have created modern, unique, and luxurious residential projects with a wide range of high-end amenities and a focus on creative inspiration. A prominent example is De La Sol luxury apartment complex in District 4 (Ho Chi Minh City), with its bold and innovative idea of incorporating music inspiration into its architectural design and amenities, leaving a strong impression on young and dynamic customers.

The elegant design creates a unique harmony.

It’s not by chance that De La Sol chose music as the main inspiration for the project. Music has always had a strong connection with human life, and now with the advancement of living conditions, the younger generation has more opportunities to interact with music at an early age and see it as a source of energy in their daily life.

At De La Sol project, the musical inspiration is showcased in a unified manner, creating a harmonious connection between sound and architecture. Each tower is designed based on the inspiration from a distinct musical instrument such as guitar, saxophone, and harmonious bells.

Meanwhile, the area’s landscape and amenities are modeled after familiar music genres: Hip Hop, Jazz, Electronic Dance Music (EDM), and Rock, corresponding to the energy each district creates. Each music genre ignites its own energy source – Hip Hop brings an unlimited creative inspiration, Jazz represents the intelligence of the elite, EDM symbolizes the modern and playful lifestyle, while Rock represents the burning desire to break free.

The convergence of those energy sources in the living space helps bring a wealth of inspiration to young people, always ready to conquer the challenges of life. Whether you prefer calm, sophistication, or value dynamic energy, you can find a private space for yourself.

Living full of inspiration in every amenity

In addition to the design that emphasizes creativity and artistic spirit, more than 50 integrated in-site amenities at De La Sol – from commercial centers, supermarkets, parks, to gym rooms and swimming pools – also demonstrate unity and harmony with the architectural style, meeting the shopping, relaxation, and entertainment needs of residents. Particularly, this is the first project in Vietnam that owns a butterfly roof, maximizing the benefits of physical and entertainment for residents.

The Cadenza lobby greets residents with a representation of the free-spiritedness of music and emotional touchpoints like the art wall and sound dome. The most exciting thing for residents when entering the premises is the Skateboard ramp, along with well-invested amenities on the sky terrace, such as the party hall, Jazz pool, rooftop jacuzzi, outdoor cinema, tea garden, etc.

Young adults in De La Sol don’t have to search for new check-in destinations to show off their personalities, as their living space is already a unique and artistic masterpiece with unique “virtual” corners in the heart of the city, offering exciting experiences and opening up a space for connection for young people with the same trendy lifestyle. De La Sol high-end condominium is the perfect fit for the dynamic and inspiration-rich lifestyle of young adults in Vietnam.

For more information, visit www.de-la-sol.vn or contact (+84) 938 47 88 39.

Positive Driving Factors Boosting the Vietnamese Real Estate Market in 2023

The Vietnamese real estate market faced a challenging year in 2022. However, according to experts, the real estate market in 2023 will show bright signals, with a foundation laid from the challenging year of 2022.

2022: The Market Faced Many Challenges

In an interview with Batdongsan.com.vn, Nguyen Van Dinh, Chairman of the Vietnam Real Estate Association, summarized a range of factors that made the Vietnamese real estate market face many challenges in 2022. The unstable global economy and inflation have led to a significant decrease in global consumer demand, affecting Vietnam’s production and exports. In particular, the turmoil of the global economy continues to escalate in the context of political territorial conflicts. This reality makes inflation, although declining, still persist, especially in Europe and America, the base rate is increasing, and the monetary policy is tight.

The Vietnamese economy is also affected by the fluctuations of the global economy, causing a general decline in demand for goods. The market lacks raw materials and the cost of inputs is high, affecting business production. Many industrial companies do not renew the lease of some or all of their production items. Thus, the demand for housing decreases due to the impact on people’s income.

However, the housing market still mainly consists of high-end products that are too expensive compared to the average income of the population. In addition to the imbalance of the product structure, the total supply of housing is still not improved and remains scarce. The reason is that the mechanism is still in the process of being revised, many projects are blocked due to conflicting legal regulations, creating bottlenecks for a long time. Social housing supply cannot be implemented just because the laws are not open enough.

Furthermore, the Chairman of the Vietnamese Real Estate Association stated that the market still faces many obstacles such as regulations on planning that lack consistency and conflict with some related laws, making it difficult for localities to implement. Regulations on land and compensation cause difficulties in land transfer and compensation. Tax regulations make it difficult for localities to implement and attract investment.

In conclusion, the real estate market in Vietnam is facing many challenges and bottlenecks due to the impact of global economic fluctuations, scarce supply, and conflicting regulations.

Driving Force of the 2023 Real Estate Market

Despite 2022 being a challenging year for the real estate market, Mr. Nguyen Van Dinh still points out the bright spots of the large-scale economy and considers this to be the foundation and spark of the real estate market in 2023.

In terms of GDP growth, Vietnam’s GDP in 2022 reached 8.02%, the highest in the 2011-2022 period. In attracting FDI, the real estate business still ranks second in the largest FDI investment-attracting sectors in 2022 with a total investment of over 4.45 billion USD, accounting for 16.1%. The capital mainly focuses on the industrial real estate market and some large real estate projects.

The real estate M&A market records positive signals as it continues to heat up with foreign capital inflows. The market’s capital continues to be supplemented with a total of foreign capital flowing back to Vietnam that is predicted to increase from 2021, reaching 19 billion USD.

Regarding legal framework, Mr. Dinh said that the legal obstacles are in the process of being removed and improved. Specifically, the Government and National Assembly have made comprehensive solutions to remove obstacles for the real estate market, such as the establishment of the Prime Minister’s Task Force; the draft amendment to Government Decree No. 65/2022/ND-CP, amending and supplementing some provisions of Decision 153/2020/ND-CP dated December 21, 2020 on the sale, transaction of individual enterprise bonds in a more open direction, with a more appropriate process; the Government’s Resolution 1164/QD-TTg on removing obstacles for the real estate market and developing housing… These series of actions have and are igniting confidence among investors and buyers in reality.

Regarding market demand, Mr. Dinh said that the demand for housing in the period 2021-2030 will continue to increase, especially in urban areas. The urban population rate is currently around 40% and will increase to around 45% by 2030, requiring an additional 7 million m2 of housing per year. This is an opportunity for businesses to develop projects that are suitable for real-life demand.

Regarding finance, the Chairman of the Vietnamese Real Estate Association stated that the Ministry of Finance has issued Decree 65/2022/ND-CP, which amends Decree 153/2020/ND-CP regarding the sale and trading of corporate bonds in a more stringent control direction, providing a basis for companies to continue issuing bonds.

In terms of construction investment, by the end of 2022, 12 Ministries and 17 localities had an investment disbursement rate of over 80%, with some places even reaching 100%. Through the support package of 35 trillion VND, the development momentum of social housing was spurred. The policy of promoting investment disbursement in construction, in which infrastructure projects occupy a major proportion, will create many economic zones, tourist areas, cities… which will in turn create demand for housing, tourism, services, offices, especially the industrial real estate segment in the trend of transitioning the factories of multinational corporations. “All these changing factors will drive the Vietnamese real estate market to flourish in 2023,” emphasized Mr. Dinh.

Source: An An