Week 29/2024 – Central Vietnam Real Estate News Summary

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   1. VARS: Real Estate Transactions Tripled In The First Half Of The Year.

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1. In the first half of the year, the real estate market saw around 20,600 transactions, triple the number compared to the same period last year, predominantly in the apartment segment, according to the Vietnam Association of Realtors (VARS).

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3. The second quarter recorded approximately 14,400 successful transactions, mostly apartments, with increases in sales of low-cost, high-end, and luxury segments by 2%, 13%, and 7% respectively from the previous quarter. High-end apartments (priced over 50 million VND per m²) accounted for over 40% of transactions.

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5. Low-rise properties and land plots also saw a 60% increase in sales from the first quarter. Both Hanoi and Ho Chi Minh City experienced significant boosts in apartment sales, with new supply mainly in Northern Vietnam. Despite positive market changes, property prices remain high and continue to rise.

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Source: vnexpress.net

2. Da Nang Real Estate Broke Out Thanks To The “Boost” Of The Free Trade Zone.

Da Nang’s real estate market is set to thrive due to the establishment of a free trade zone linked to Liên Chiểu port, as approved by the National Assembly. This move, along with pilot policies on investment management, urban planning, and attracting investors in high-tech industries like semiconductor development and AI, positions Đà Nẵng as a rising economic hub. The city’s natural scenery, living environment, and transportation infrastructure, combined with the new trade zone, are expected to draw more tourists and professionals, boosting real estate demand, particularly around Liên Chiểu port. Experts predict a positive shift in new apartment supply in the second quarter of 2024.

Source: vneconomy.vn

3. Why Can’t Da Nang Relocate The Railway Station Out Of The City Center Yet?

The People’s Committee of Da Nang (UBND TP. Đà Nẵng) has reported to the People’s Council (HĐND TP) about the status of major projects, including the relocation of the railway station out of the city center.

The relocation of Da Nang Railway Station, a significant project for infrastructure development, socio-economic growth, and national defense, is facing challenges due to limited investment resources and the government’s focus on highway network development. The relocation will be reconsidered after 2030.

The People’s Committee has tasked the Department of Transport (Sở GTVT) and relevant agencies with researching and proposing a relocation plan. The Standing Committee of the City Party Committee has approved a plan to move cargo and auxiliary facilities to Kim Liên Station, while passenger services will be relocated to the Trung Nghĩa area.

The next steps include coordinating with relevant agencies to finalize the plan, land clearance, resettlement, and updating detailed zoning plans. The final report will be completed and submitted to the authorities by July 2024, with detailed zoning plans expected to be finalized by October 2024 and a feasibility study report by October 2025.

The People’s Committee of Da Nang has suggested splitting the railway station relocation project into two parts: relocating cargo facilities and auxiliary structures to Kim Liên Station, and relocating passenger services to the Trung Nghĩa area. The construction of a new railway station as per the master plan will be led by the Ministry of Transport.

Source: cafef.vn

4. The Hottest Real Estate Event In Da Nang In July: “Panorama Of Da Nang Real Estate Market 2024”.

On July 25, Batdongsan.com.vn will organize the event: “Panorama of Da Nang real estate market 2024 – Consolidation & Shift” at Novotel Hotel. The program is expected to gather 300 business guests, press and typical brokers.

The Da Nang real estate market witnesses “changes” every day thanks to transportation infrastructure and methodical planning. Da Nang City, with its long-term development and strong investment plans, has become an attractive destination for investors and real estate buyers.

In 2024, Da Nang has been focusing on implementing many key infrastructure projects such as: Lien Chieu port construction, international airport adjustment planning, railway station relocation, coastal road expansion. and national highways, along with projects along the Han River. These projects not only contribute to improving transportation infrastructure but also create opportunities for the local real estate market.

To meet the information needs of the market, Batdongsan.com.vn will organize the event “Danang Real Estate Panorama 2024 – Consolidation & Shift” on July 25. Experts presenting at this program will analyze and forecast the latest real estate trends based on big data and in-depth research of Batdongsan.com.vn.

Source: batdongsan.com.vn

5. New Land Law 2024: Key Obligations nd Rights For Land Users.

The Land Law 2024, effective August 1, outlines specific obligations for land users, including using land as designated, completing registration and transfer procedures, fulfilling financial duties, protecting and restoring land, and complying with environmental regulations. Users must also hand over land when revoked by the State. Rights include obtaining land use certificates, enjoying labor fruits, receiving State guidance, and protection, changing land use purposes, and being compensated for State revocation. They can also file complaints and lawsuits regarding land use violations.

Source: cafef.vn

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