Forecasts on real estate situation in 2018 and summarize the general changes of the market in HCMC in 2017.
HoREA commented: In 2018, the real estate market in Ho Chi Minh City continued to grow satisfactorily and stable.
HCMC real estate market and some forecasts in the new year
The market in 2018, the focus will remain the popular housing segment with 1-2 bedrooms. This will be the strongest and most liquid form of growth.
High-end segment will also have to restructure products to fit the market (typically Vingroup with high-end products VinCity).
Land subdivision in coastal districts will continue to grow hot. And the predictions of the disputes in the apartment will also occur more fiercely and more complex. There should be an entrance of the authorities.
The market will restructure the product to better match the market demand. The affordable housing segment will replace the high end real estate segment.
New orientations in the new year
The city has decided to change the use of about one third of agricultural land. To serve the development of industry, services and urban areas, as well as intelligent urban construction. The Northwest will be the main axis for real estate development that is decided by the city. Infrastructure projects will focus more on urban development in the medium and long term.
Increasing the development of smart real estate (application technology into the real estate market) is the development target of the city. Particularly, trading activities, exchanges, procedures, etc. Related to real estate will be solved more through the development of information technology.
HCMC is a rapidly growing city with a population of 13 million (of which about 3 million are immigrants). Estimated GDP per capita in the city by 2020 will reach about $ 9,800. This will increase the demand for housing and real estate in this city.
Ho Chi Minh City’s real estate market is spreading strongly. And in 2018, this influence should be exerted to create a network beyond the city’s administrative boundary.
What is the impact of the new legislation?
The state has promulgated many legal norms for the real estate sector from now to 2020. And it is expected in 2018 will submit to the National Assembly to consider three groups of bills that may affect the real estate market:
– “Draft Law Amending and Supplementing a Number of Articles of the Land Law”
– “Draft Law on Amendments and Supplements to a Number of Articles of the Housing Law, Law on Real Estate Business, Law on Construction, Law on Urban Planning”;
– “A draft law amending and supplementing a number of articles of the Law on Investment, the Law on Enterprises”.
The state will increase the use of tax tools (such as homeowners tax, real estate tax) and credit tools (such as the credit line of the real estate market under Circular 06/2016 / TT-NHNN of the SBV, but in fact, last year credit growth reached 19% and brought concern about the return of the “virtual fever” from the real estate market
In addition, the state will use additional tools for land use planning; planning for urban development, housing; Administrative tools to bind the owners to protect the consumer (such as bank guarantee, confirmation of the project eligible for capital mobilization, announcement of the mortgage project, the investor must release or must be approved by the mortgage bank in order to sell the house in the future …).
All new regulations and state intervention in the property market. Will help the real estate market in HCMC in the years to develop more transparent and stable. And in the next few years, there will be no more bureaucratic corruption. Extremely favorable conditions for businesses wanting to develop a real estate project.
Mergers & Acquisitions (M & A) – mainstream of 2018
HoREA forecasts that the trend of cooperation between enterprises will be inevitable in 2018. M & A activities will develop strongly as the National Assembly issues the issue. bad debt and have made effective.
In addition, the current requirements of the market require businesses to have more solid and responsible capital for their projects. M & A activity will increase the bond and potential of enterprises.
With the current trend, businesses need to meet a lot of factors to get a successful project. It is a unique project, impressive, safe, large green space, fresh environment, …
That requires businesses to be truly responsible and have a restructuring of their products. As life develops, people’s demands for a place to settle down increasingly.
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