10 highlights HCMC real estate 2017

HCMC real estate market in 2017 with the ups and downs. In general, the market had some good signals. However, there are still unresolved difficulties.

Market growth of 4%

According to the HCMC Real Estate Association, overall, the real estate market in 2017 has signs of return. With an increase of 4.07% over last year. The housing market (mid-end and low-end segment) is still dominated by the market. With 74% market share in the structure and still in the supply state does not meet the demand.

Not absorbed in the resort

The market for condominiums (condotels, villas in resorts) is in oversupply. Some owners also commit to profit up to 8- 12% per year for 8-12 years. But there is no guarantee from the owner of the commitment. This segment also has many risk factors for investors as well as the real estate market.

The segment of condominiums in the city is over-loaded and contains many risks

Controversial apartment buildings

In Ho Chi Minh City 105 apartments are in dispute at different levels. Of these, 10 are very harsh and complex. Mostly disputed because the investor slowed down the management of the project; No fund for maintenance of apartment; The quality of construction of apartment buildings and fire prevention.

Particularly harsh in cases where the investor does not hand over the apartment properly committed. Do not make a red book for home buyers. There are many cases where the investor has mortgaged the apartment and the project to the bank. It is more serious than the works are not eligible to use but have put people into safe living.

Coastal base has virtual fever

In the first months of 2017, in some districts and suburbs of HCMC. The land was pushed up very high. But luckily the city government has resolved in time. Last year, there were signs of price fever in district 9, Thu Duc, Binh Tan, Hoc Mon, …

According to the HCMC Real Estate Association, there are brokerage businesses in the area of ​​unhealthy activities. Can hurt the interests of people and affect the trust of customers. The most typical example is ALIBABA real estate company.

Alibaba Real Estate is a brokerage firm that recently violated and was fined by the city

Decide the minimum plot size to be issued

After a period of waiting, HCM City People’s Committee officially issued Decision No. 60/2017 / QD-UBND on the minimum land area of ​​separate land plots in many areas in the city. This decision brings with it the hope of clearing the land that has been stuck for so long.

The decision also allowed the separation of agricultural land. In particular, the newly-formed land plot compared to the remaining land plot must ensure a minimum area of ​​500 m2 for the land for planting annual crops and agricultural land. And 1,000 square meters of land for perennial crops, aquaculture land and salt land.

Issue red book in case of buying and selling through hands

Decree 01 of the Ministry of Natural Resources and Environment has allowed the case of people buying and selling houses through hand from July 1, 2004 to January 1, 2008 will be issued red books.

This decree also allows the Department of Natural Resources and Environment to authorize the Land Registration Office to grant a red book in case of issuance, renewal or revocation of a certificate.

For the first time sanctioned construction investors illegally

On May 20, 2017, the first Vice Chairman of the HCM City People’s Committee – Le Van Khoa signed the decision on administrative punishment for TDS Joint Stock Company. This company is the investor of Thao Dien Sapphire project in Thao Dien ward, District 2. The amount of money the company has to pay up to VND1 billion.

This is the highest level of administrative punishment so far in construction activities in Ho Chi Minh City. Besides fines, investor Thao Dien Sapphire also have to stop all construction activities in violation works and have to dismantle the wrong construction.

Sapphire Thao Dien project was fined for violating a series of building criteria. As well as increase and encroach area of ​​construction. With a total area of ​​up to 1.400sqm.

Thao Dien Sapphire has been fined VND1 billion due to violations. This is the highest level of administrative punishment ever

Collection of real estate of customers to make sure to borrow

Since August 2017, the Asset Management Company (VAMC) and a series of banks have seized many collateral assets of borrowers. Most of these properties are real estate. This is a strong move to begin the process of dealing with bad debts existed in the credit system.

The 25sqm apartment project is licensed for construction

Ministry of Construction proposed the People’s Committee of Ho Chi Minh City study relaxation of regulations set out in 2005. The minimum area can now be 25sqm instead of 45sqmas before.

With this proposal, projects can be built with a certain percentage (20% -25%) of apartments with an area of less than 45sqm for the central project. Suburban projects may employ a higher proportion of smaller flats.

Foreign capital inflows into real estate is $ 3 billion

According to new data published by the Foreign Investment Agency. The real estate sector ranks third in terms of attracting foreign direct investment (FDI) in 2017.

With total registered capital up to $3.05 billion, accounting for about 8.5% of total registered capital in our country.

You are reading the article 10 highlights HCMC real estate 2017 in the Real Estate category at https://realestatevietnam.com.vn/. Any information sharing, feedback please contact through Hotline (+84) 898 898 688 (24/7) or email to contact.vietnamrealestate@gmail.com.
Special thanks!