News. Back to the list

Week 20/2024 – Central Vietnam Real Estate News Summary

Week 20/2024 – 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”

  1. 1. Bringing The Land Law To Life Soon: What Benefits Do People Get?

  2. Bringing The Land Law To Life Soon: What Benefits Do People Get.

    The new Land Law offers various benefits for land users, including improved rights for mortgaging, gifting, inheriting, and using land.

  3. The Ministry of Natural Resources and Environment (MNRE) is gathering public feedback on amendments to make the law effective from July 1, 2024. Small and medium enterprises will have better access to industrial land, potentially reducing initial investment costs.

  4. The law simplifies administrative procedures, enhances transparency, and allows individuals to acquire agricultural land. It also supports real estate market growth and equal land rights for overseas Vietnamese. The changes aim to streamline land management and maximize land resource value.




2. Real Estate Prices Unlikely To “Cool Down” Anytime Soon.


Real Estate Prices Unlikely To "Cool Down" Anytime Soon.

Real estate has experienced the most significant price increases among various asset classes, with prices expected to remain high. Dr. Le Xuan Nghia noted that since 1990, gold prices in Vietnam have risen 30 times, stock prices 12 times, and real estate prices in major cities like Hanoi and Ho Chi Minh City have surged by around 400 times.

This trend aligns with the Ministry of Construction’s Q1 2024 report, indicating a 38% rise in Hanoi apartment prices since 2019. The high prices are attributed to limited supply and strong demand, with many projects stalled due to funding and legal issues. Investment sentiment remains strong, with 62% of survey respondents ready to buy discounted properties. The ongoing challenge is to unblock thousands of stalled projects in major cities.

Financing is critical, with new capital sources from corporate bonds facing liquidity issues, highlighting the need for solutions to sustain the real estate market.




3. Inside The 1,000 Billion Software Park Project In Da Nang Preparing To Restart.


Inside The 1,000 Billion Software Park Project In Da Nang Preparing To Restart.

Software park project No. 2 in Da Nang with a total investment of nearly 1,000 billion VND, is being completed by the authorities to restart procedures after more than 1 year of suspension due to legal problems.


On February 1, 2024, the Government issued Decree 09/2024 amending and supplementing a number of articles of Decree 144/2016 stipulating a number of specific mechanisms on investment, finance, budget and decentralization. management for Da Nang City. Thanks to that, Da Nang City can restart the project.


In August 2024, infrastructure exploitation projects, site price plans, auction rental services and other necessary procedures will be completed to soon put the project into use.




4. JLL: Vietnam Could Attract Google, Amazon To Open Data Centers.


JLL: Vietnam Could Attract Google, Amazon To Open Data Centers.

According to JLL, Vietnam could attract Google, Amazon, and Microsoft to develop data centers due to its strategic location and dynamic policies.

Currently, the data center market is dominated by domestic telecom companies like ViettelIDC, FPT Telecom, VNPT, and CMC Telecom.

However, international enterprises are gradually entering the market, with significant projects from Gaw Capital, NTT, QD Tek, and Alibaba.

Vietnam has 28 data centers with a total capacity of 45MW. Savills notes that this sector is growing rapidly but must address challenges related to data privacy, cyber security, and sustainable resource consumption to continue attracting investment.




5. Six Cases Where The State Will Revoke Land Use Certificates From 2025.


6 Cases Where The State Will Revoke Land Use Certificates From 2025.

After the 2024 Land Law officially comes into effect on January 1, 2025, citizens need to be aware of six cases where the State will revoke land use certificates (red books):


Land is entirely expropriated by the State.
Citizens apply for a replacement of the land use certificate.
Land users register land changes and request a new land use certificate.
There are errors at the time of issuing the land use certificate, such as issuing without proper authority, to the wrong person, incorrect area, land not meeting conditions, misuse of land, incorrect usage period, or origin of land use.
The issued land use certificate is annulled by a court.
Auction, transfer of land use rights, or assets attached to land as per the court or enforcement agency’s request, but the person subject to enforcement does not return the issued land use certificate.
If the owner or land user does not submit the land use certificate when it is revoked, the competent authority will cancel the issued certificate.




    1. 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 that is right for You.