Banks are also being instructed to rigorously inspect loans involving real estate collateral.

Da Nang’s Department of Construction has announced four commercial housing projects which can be sold to foreigners in the central city.

Lawmakers are set to discuss at the hall a draft resolution on piloting commercial housing project through land use rights transfer agreements at the ongoing 15th National Assembly’s eighth session on November 21.

Limited capital and scarce supply, along with new regulations on property tax, are putting pressure on real estate businesses.

The Department of Construction of central Da Nang city has listed 17 commercial housing projects that allow foreigners to own homes, including eight in Son Tra peninsula and six in downtown Hai Chau district.

The real estate market in Ho Chi Minh City is on track to bounce back, but its sustainable development will only be ensured if housing demand from low-income and average-income earners is satisfied.