Japanese firms Sun Frontier and Cosmos Housing have started constructing two property projects in the beach city, sparking the recovery of the deadlocked real estate market.

Some 2.87 billion USD in foreign direct investment (FDI) was registered in the Vietnamese property market during January-November, a year-on-year fall of 31.4%.

The Vietbuild Hanoi 2023 exhibition officially kicked off at the National Architectural Planning & Construction Exhibition Centre on March 15, featuring the latest construction materials, technologies, and interior and exterior decor products, and real estate products.

Government Decree No 44/2022/ND-CP about the development, management and use of the information system about housing and real estate is expected to improve the transparency of the property market.

The skewed concentration of property projects in some areas of Ho Chi Minh City has resulted in an imbalance in the development of satellite cities and causes a strain on the transport system, a workshop heard in the city on April 16.

The Vietnam Real Estate Association (VNREA) held a conference in Hanoi on February 18 to discuss difficulties in mechanisms and policies faced by businesses and investors.

Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalent to 10.2 percent of the total registered.

Vietnam holds huge potential for developing the resort market thanks to high economic growth and growing travel demand, experts said at a recent workshop in Hanoi.

The real estate market in Hanoi is becoming a magnet for foreign investors, with the number of experts and entrepreneurs from abroad working in the capital city rising.

The growing foreign direct investment (FDI) in Vietnamese property has shown investors’ greater expectations of the market, insiders said.

Last year witnessed many mergers and acquisitions (M&As) in Vietnam’s real estate sector, and foreign investors’ interest in the market is forecast to continue in 2018.

Ho Chi Minh City’s real estate sector attracted 984.4 million USD in foreign direct investment (FDI) during January-November, triple the figure from the same time in 2016.

Strong economic growth since 2015 has created a thriving domestic property market that is likely to continue next year, said Construction Minister Pham Hong Ha.

Ho Chi Minh City authorities are calling for investment in the form of public private partnerships to build golf courses, parks, trade centres or property projects on three closed landfill sites.

Some 550 villas and row houses are set to be available in Hanoi’s real estate market by the end of this year, according to statistics from Savills Vietnam, the largest property company in the country.