Experts believe 2025 could be a crucial year for the city's real estate sector. After navigating the challenges brought on by the pandemic and economic downturn, a full recovery is anticipated by 2026.

State budget collection has so far reached 85% of this year's estimate, Deputy Minister of Finance Nguyen Duc Chi has reported.

The expansion of land use rights for overseas Vietnamese (OV) in the recently passed 2024 Land Law is good news for OVs who want to own real estate in Vietnam, said experts from Savills Vietnam.

Prime Minister Pham Minh Chinh has affirmed to the National Assembly that the Government and local administrations will continue to drastically implement set measures and tasks while fixing shortcomings so as to realise the year's targets to the highest possible level and create a driving force for next year.

Hanoi authorities have requested the Department of Natural Resources and Environment strictly handle the bulldozing of hills and mountains and levelling of ponds, rivers and streams to sell land.

Hanoi expects to gross more than 23.67 trillion VND (over 1 billion USD) from auctioning land use rights at 446 projects on 177.29 ha this year, the municipal People’s Committee has said.

The Military Court of the Vietnam People’s Navy opened a trial on May 18 for a case involving Dinh Ngoc He, alias “Ut troc”, and other defendants on charges of “fraud, appropriation of assets,” “violating regulations on land management,” and “lack of responsibility causing serious consequences.”

Vietnam was urged to complete the land market to meet requirements and ensure development, experts said.

Three years after a five-year plan to renovate half of the 476 old tenements was announced by Ho Chi Minh City’s authorities, only a fraction of them have been refurbished or rebuilt, causing suffering to many people living in them.

Ho Chi Minh City collected fees of more than 16.49 trillion VND (over 712.5 million USD) last year for changing land-use purposes, according to the city’s Registration Office for Land Use Rights.

The Government’s mechanism to calculate the compensation rate for residents whose land it takes for public purposes is "detached" from the market value instead of relying on it, leading to prolonged opposition and grievances from those affected.

Hanoi plans to promote auctions of land use rights from now to 2020 in order to make effective use of land fund and meet the increasing demand of businesses and people.

The equitisation of State-owned enterprises (SOEs) should be stepped up towards transparency in line with the market mechanism, heard a workshop in Ho Chi Minh City on June 23.