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   1. About To Enter An Important Moment, The Real Estate Market Welcomed Nearly 1,400 New Businesses.
   

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The real estate market is showing many positive signs as the wave of brokers, newly established businesses, the number of transactions, especially FDI capital pouring into real estate, have increased significantly recently. With this basis, the real estate market is expecting a breakthrough when the Land Law 2024 will take effect soon on July 1.

According to data from the General Statistics Office, in the first 4 months of this year, the whole country had 1,376 newly registered real estate enterprises, equal to 98.7% compared to the same period in 2023. In addition, there were 1,302 enterprises. return to operations. The sharp increase in the number of newly registered businesses and especially those returning to operation shows that the real estate market is showing signs of positive recovery.

Another positive sign is that the amount of foreign investment capital poured into this field has rebounded in the first months of 2024.
According to a report from the General Statistics Office, in the first 4 months of this year, registered capital in the real estate business ranked second with 1.6 billion USD. This number is 4 times higher than the same period in 2023.

Another very important driving force that promises to bring a “new breeze” to the real estate market shortly is the positive impact of the revised Land Law that will take effect from July 1. New content, if applied soon, will help make the market more transparent and clear and reduce overlap between laws.

In particular, real estate businesses expect that new regulations will soon cut cumbersome legal procedures and remove obstacles for many real estate projects that are “stuck” today.

Source: cafeland.vn

2. Real Estate In The First 4 Months of 2024: Many Positive Signs.

Vietnam’s real estate market kicked off 2024 on a strong note, with the first four months showing positive signs across the board. The number of apartments available for purchase surged by over 20% compared to the same period in 2023. This increase in supply met with healthy consumer demand, with transaction rates rising despite property prices reaching new highs. Market research companies all pointed to these “positive signals” in their reports on the first quarter. Consumer confidence is on the rise as well, with a survey by one of the large property portals indicating that 62% of respondents are ready to buy if they find a discounted property or one with favorable policies. This market uptick is evident in the substantial growth of new supply entering the market and stable transaction rates.

Da Nang, a rising star in Vietnam’s economic landscape, is well-positioned to capitalize on these national trends. The city boasts a booming tourism industry, attracting millions of domestic and international visitors each year. This surge in tourism fuels demand for various property types, including hotels, resorts, and vacation homes. Additionally, Da Nang is undergoing significant infrastructure development projects, further enhancing its attractiveness as a place to live, work, and invest. With its beautiful beaches, proximity to UNESCO World Heritage Sites, and overall high quality of life, Da Nang presents a compelling proposition for real estate investors and potential residents alike.

Source: vneconomy.vn

3. Open Legal Framework, Remittance Flows Will Pour Strongly Into The Real Estate Market.

In 2023, Vietnam saw a notable surge in remittances, reaching $16 billion, up by 32% from the previous year. The Land Law of 2024 expanded property ownership rights for Vietnamese expatriates, drawing increased remittances and becoming a significant revenue source for the country.

While the new law may initially impact real estate prices, it’s expected to foster long-term growth by encouraging direct investment from expatriates. The law addresses previous hurdles in investment processes, offering more favorable conditions and reducing risks. This is especially appealing to expatriates with accumulated assets planning to return to Vietnam.

The Land Law’s provisions for expatriates owning real estate hold considerable potential for Vietnam’s real estate market, attracting investment capital and driving demand.

Source: cafef.vn

4. Navigating Legal Reforms: Prospects and Caution in Vietnam’s Real Estate Market.

The real estate market in Vietnam is expected to become more transparent and promising with new laws, according to major real estate tycoons. However, they remain cautious about the recovery pace. Legal constraints and funding issues have plagued real estate businesses for the past two years.

Despite challenges, efforts from companies and regulatory measures, especially the amended Land Law, are gradually reviving the market. Nonetheless, the impact of these laws may take time to materialize fully.

While optimistic about the market’s future, leaders like Novaland’s Chairman Ben Thành Nhân and Vinhomes’ Chairman Pham Thieu Hoa emphasize the need for accompanying regulations for effective implementation.

Major players anticipate a slow but steady recovery, with challenges including managing inventory, overdue debts, and adapting to changing consumer demands.

Source: cafeland.vn

5. Real Estate Investors Predict The Upcoming arket.

The real estate market in Vietnam is expected to become more transparent and promising with new laws, according to major real estate tycoons. However, they remain cautious about the recovery pace. Legal constraints and funding issues have plagued real estate businesses for the past two years.

Despite challenges, efforts from companies and regulatory measures, especially the amended Land Law, are gradually reviving the market. Nonetheless, the impact of these laws may take time to materialize fully.

While optimistic about the market’s future, leaders like Novaland’s Chairman Bùi Thành Nhơn and Vinhomes’ Chairman Phạm Thiếu Hoa emphasize the need for accompanying regulations for effective implementation.

Major players anticipate a slow but steady recovery, with challenges including managing inventory, overdue debts, and adapting to changing consumer demands.

Source: cafeland.vn

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