The HCM City real estate market has seen green shoots of recovery and the prospects of new supply amid easier legal procedures and lower bank lending interest rates, according to the Department of Construction.
HCM City continues to be a top destination for northern investors, according to speakers at the "Vietnam Real Estate Market Outlook H1 2025" event held in HCM City on July 22.
Instead of investing millions of dollars in building properties in HCM City’s inner districts, real estate developers rent properties and furnish apartments and put them up as mid-priced serviced apartments.
The country’s apartment inventory was estimated at some 3,300 units by the end of the first quarter of the year, falling 5,700 units compared to the same period last year.
Careful consideration must be given to the imposition of a rent tax on people who own apartments for lease, experts said, adding that it was essential to introduce a reasonable tax rate and threshold.
Investing in apartments to capture short-term gains has not been attractive to investors due to high prices caused by limited supply, according to experts.
HCM City is expected to need an additional 160,000 social housing apartments in the next decade to meet its rising population and demand for affordable housing.
The Ministry of Construction (MoC) is completing a draft resolution to encourage the development of low-cost commercial apartments to submit to the Government in the third quarter of this year.
Léman Luxury Apartments was honored as the “Best Innovative Green Building” at the Dot Property Vietnam Awards 2020 ceremony held in HCM City on Thursday night.