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Week 07/2022 – Central Vietnam Real Estate News Summary
In this weekly or sometimes bi-weekly news flash – CVR: Central Vietnam Realty will provide a choice of articles from mainly Vietnamese media sources related to the real estate market in Vietnam.
We will be focusing on issues related to Da Nang and Hoi An, while also looking at national news and their possible impact on Central Vietnam’s property market.
You will find a summary, a link to the source as well as CVR’s take on the article.We believe that local knowledge is the key to making the best possible decision and that’s what we offer to all our clients.
“CVR: Western Management – Local Knowledge”
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1. The comeback of the real estate market in Vietnam
The real estate market in Vietnam has had an astonishing comeback in late 2021 – 2022. Even though the concern related to COVID forms a somewhat worrisome feeling for many investors, the big names in the market still hold their strong belief that the market will keep moving forward in 2022.
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The impressive comeback of the market -
One remarkable highlight of the Vietnam real estate market was the steady incentives of demand in houses and grounds. More surprisingly, the growth was truly outstanding in the last quarter of 2021.
The first quarter of 2021 was certainly easy as there was a “Land Fever” that took place in some areas such as Quoc Oai, Ba Vi, Hoa Binh, Bac Ninh, Hung Yen, Thanh Hoa, Bac Giang, Bien Hoa, Thu Duc, Nhon Trach, Long Thanh, …
The second and the third quarter were gradually slowing down because of the alarming increase of COVID cases. Most of the real estate activities had to be canceled. This also led to a decrease in land prices. Ho Chi Minh was heavily damaged by the 4th wave, as opposed to the slow recovery of Hanoi during the time.
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The “Land Fever” phenomenon
Everything began to reopen slowly in the 4th wave. Another land fever appeared making the real estate market as hot as a Backstreet Boys live concert.
Such events happened in areas like Bac Giang, Hanoi, Quang Tri, Ha Tinh, and one of the biggest showdowns of the year: The Thu Thiem auction. The auction at Thu Thiem attracted 21 giants of many industries, namely International Transportation and Trading Joint Stock Company; Gia Dinh House Business and Investment LLC; Ngoc Lam Trading – Tourist LLC; Dong Tien Real Estate Investment Joint Stock Company; Phat Dat Real Estate Development Corp; Cat Tuong Real Estate Group Joint Stock Company; Northern Thu Thiem Investment LLC; Ngoi Sao Viet Real Estate Investment LLC (belongs to Tan Hoang Minh); …
The impressive comeback of the market
One remarkable highlight of the Vietnam real estate market was the steady incentives of demand in houses and grounds. More surprisingly, the growth was truly outstanding in the last quarter of 2021.
The first quarter of 2021 was certainly an ease as there was a “Land Fever” that took place in some areas such as Quoc Oai, Ba Vi, Hoa Binh, Bac Ninh, Hung Yen, Thanh Hoa, Bac Giang, Bien Hoa, Thu Duc, Nhon Trach, Long Thanh, …
The second and the third quarter were gradually slowing down because of the alarming increase of COVID cases. Most of the real estate activities had to be canceled. This also led to a decrease in land prices. Ho Chi Minh was heavily damaged by the 4th wave, as opposed to the slow recovery of Hanoi during the time.
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Interested in learning about investing in Central Vietnam? With a decade of experience, we’re your number one resource for residential and commercial real estate opportunities in and around Da Nang. Contact the CVR team today
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2. Vietnam has a real estate consumer sentiment index for the first time.
A Real Estate Consumer Sentiment Report & Index will be announced from February 2022. This is the first time the realLần đầu tiên Việt Nam có chỉ số tâm lý người tiêu dùng BĐS estate market sentiment index has been published in Vietnam based on the actual survey results of thousands of consumers of various ages and regions across the country.
Through the report, many important indicators that have never been tracked before will be revealed such as: affordability and current property ownership rate of Vietnamese people; general assessment of consumers about the reputation of real estate investors; people’s satisfaction with the real estate market, with public policies and interest rates on bank loans; the factors consumers expect most in real estate products in the future; Potential and barriers of young real estate consumers, etc. -
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Our expert knowledge of both the property market and business environment ensures our clients are provided the best advice throughout the process. In today’s constantly changing market, buyers face an array of complex challenges and new opportunities. We can help!
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3. New Update on Real Estate Business Law
On January 6, 2022, the Government issued Decree 02/2022/ND-CP detailing the implementation of a number of articles of the Law on Real Estate Business 2014, replacing Decree No. 76/2015/ND-CP dated September 10, 2015, of the Government.
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Decree 02 has many new contents, many adjusted regulations compared to Decree 76 in order to create greater consistency and synchronization in the system of legal documents, remove barriers for real estate investment and business activities, improve the quality of the State’s supervision and management in this field and related fields (planning, investment, land, tax)
One of the new points of Decree 02 is the standardization of contract forms for lease, purchase, sale, transfer,…So from March 1, 2022, samples of contracts for renting, buying, and selling apartments and tourist apartments; receiving the transfer of land use rights,… has been standardized and specified in the Appendix attached to Decree 02/2022/ND-CP
Why it is important:
Decree 02 promulgating contract forms for tourist apartments, office apartments combined with accommodation has created a unified reference base, creating more favorable conditions for investors in registering the contract form. this contract at the competent authority before the transaction.
Considering an investment in 2021? Whatever the requirement, we provide our clients the highest standard of service tailored to their specific needs and always stay ahead of the curve. Reach out to us today!
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4. Demand in the rental apartment market is increasing again
Information that Vietnam will return to normal international flights as before the COVID-19 pandemic from February 15 is expected to help trade and tourism get back to life.
According to real estate experts, an increase in FDI inflows will lead to a sharp increase in the foreign expert community coming to Vietnam. This is also an opportunity to help the apartment rental market recover and grow significantly.Besides, records from the market also show that, right after the 2022 Lunar New Year, a series of localities have approved a plan to allow schools and universities to reopen to welcome students to study offline. As a result, students’ demand for apartments is also increasing in big cities.
Investment sentiment is on the rise, and the apartment rental market is expected to fully recover in 2023.
This is a good signal to show that the apartment rental market will be soon recovered.
CVR is here to help you understand the trends of the market so you can make the best investment decisions. Our experience, highly regarded reputation and strong legal knowledge keep us at the forefront of the real estate industry. Interested in learning more about opportunities in Central Vietnam? Contact the CVR team today!
Source:https://cafeland.vn/tin-tuc/nhu-cau-tren-thi-truong-can-ho-cho-thue-dang-tang-tro-lai-106755.html
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5. Da Nang will welcome the first international passenger on March 27
Singapore Airlines is expected to operate the Singapore – Da Nang route on March 27.
Other airlines said they are also planning to operate flights connecting to the city. Vietnam Airlines is expected to restore flights from Da Nang to Northeast Asia in the third quarter; in the fourth quarter of the year to restore flight routes from Da Nang to Singapore, Thailand… and study to reopen Russia-Da Nang flights.Vietjet Air is also monitoring the epidemic prevention policies of other countries and is expected to reopen at the earliest to Thailand, Malaysia, and Singapore. Bamboo Airways is considering re-operating the Da Nang – Incheon route.
Why it is important: This is good news for Da Nang and tourist, Da Nang is ready to welcome international tourists and all activities are normal.
As Da Nang continues to develop into a major economic center and international destination, CVR can help you find suitable real estate that fits your specific needs whether it’s for a business or new home. Interested in learning about opportunities in Central Vietnam? Contact the CVR team today!
The impressive comeback of the market
Through the report, many important indicators that have never been tracked before will be revealed such as: affordability and current property ownership rate of Vietnamese people; general assessment of consumers about the reputation of real estate investors; people’s satisfaction with the real estate market, with public policies and interest rates on bank loans; the factors consumers expect most in real estate products in the future; Potential and barriers of young real estate consumers, etc.
Decree 02 has many new contents, many adjusted regulations compared to Decree 76 in order to create greater consistency and synchronization in the system of legal documents, remove barriers for real estate investment and business activities, improve the quality of the State’s supervision and management in this field and related fields (planning, investment, land, tax)
According to real estate experts, an increase in FDI inflows will lead to a sharp increase in the foreign expert community coming to Vietnam. This is also an opportunity to help the apartment rental market recover and grow significantly.
Other airlines said they are also planning to operate flights connecting to the city. Vietnam Airlines is expected to restore flights from Da Nang to Northeast Asia in the third quarter; in the fourth quarter of the year to restore flight routes from Da Nang to Singapore, Thailand… and study to reopen Russia-Da Nang flights.-
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As always, CVR is at your service and happy to provide help anyways we can!
Contact Us today to find the real estate investment in Da Nang which is right for You
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