House buyers in the capital can pin hopes on new supply coming from infrastructure development this year, which is expected to push up demand for housing in neighbouring localities with reasonable prices and larger land reserves.
The Hanoi market is expected to offer about 12,100 more apartments in 2024. (Photo: VNA)
Hanoi (VNA) – House buyers in the capital can pinhopes on new supply coming from infrastructure development this year, which isexpected to push up demand for housing in neighbouring localities withreasonable prices and larger land reserves.
Savills Vietnam has considered this a positive factor onthe supply side. Infrastructure development projects to build the belt roads No.3, 4, 5, for instance, will expand the capital's housing market and demand will nolonger concentrate on the downtown areas.
Savills' survey shows that in 2024, the Hanoi market willoffer about 12,100 more apartments, with as much as 87% of them located in Hoang Mai, Nam Tu Liem, and Ha Dong districts. Additionally, neighbouringprovinces like Hung Yen and Bac Ninh are to host approximately203,000 more apartments between 2024 and 2026.
Do Thu Hang, Senior Director at Savills Hanoi’s research andconsulting department, underscored the possible impact brought about by the recentlyamended real estate business law, amended housing law, and amended landlaw.
With developers required to complete financial obligationsbefore building their future products, confidence is higher in future buyers, Hang said.
However, facing the market are challenges stemming fromlimited supply and imbalance between supply and demand, especially inaffordable housing. In the fourth quarter of 2023, Hanoi saw the lowest numberof new supply in a decade, regarding both low-rise and apartment segments.
According to Hang, given the restricted supply and high pricesin the primary market, opportunities for homebuyers may lie in the secondary market,which offers affordability, a wider range of choices, and better legalassurances./.
The newly approved Land Law, Housing Law, and Law on Real Estate Business, which will take effect from 2025, are expected to create more favourable conditions for Overseas Vietnamese (OVs) in owning and trading real estate, according to experts.
Real estate has emerged as the biggest recipient of foreign direct investment (FDI) in January while foreigners now also have great demand for property in Vietnam, statistics show.
The amended Land Law which was passed at the 15th National Assembly’s fifth extraordinary session in mid-January is expected to provide a firm legal framework to enhance land management efficiency and create new momentum for Vietnam to become a high-income country by 2045.
Despite the uncertain future of the real estate market, several prominent companies in the industry have recently announced significant profits. This has sparked optimism among investors and experts, suggesting that the market may be on track for a gradual recovery and a fresh phase of growth.
Experts from top real estate consulting companies in Vietnam have expressed optimism about development prospects of the real estate market, particularly regarding the office and industrial segments.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The Hanoi market is expected to offer about 12,100 more apartments in 2024. (Photo: VNA) 
