Ho Chi Minh City Handles 26 Old Condominiums In 2017

HCM City will build six new apartments, renovate and repair 10 apartments, move the apartment block, dismantle the apartment this year.

You can read more information at Vietnam Real Estate Market

On 27 February, the HCM City Department of Construction will handle 26 apartments in 2017. In particular, HCM City will start construction of six apartment buildings at the old removed with 1,785 apartments.

Specifically, Lot D of Co Giang apartment will be built as Apartment and Trade Center Pavilion Square by Dat Viet Development Joint Stock Company as the investor.

Apartment 148, Nguyen Dinh Chieu, District 3 by the company Khang Thanh Phu as an investor. Lot A of Ly Thuong Kiet apartment building, Tan Phuoc apartment building is invested by Tan Phuoc Real Estate Joint Stock Company.

Processed 26 old buildings

Lot D of Co Giang apartment will become Pavillon Square apartment and commercial center

350 Hoang Van Thu apartment, Tan Binh is invested by Duc Khai Tan Binh Joint Stock Company. Particularly, Ngo Gia Tu apartment block, District 10 is still selecting the investor.

Ho Chi Minh City will continue to renovate and repair 10 apartments with 1,761 apartments. Carry out compensation for clearance of the apartment with 580 relocated households. At the same time dismantle damaged, dangerous apartment with a total area of more than 82,000 sqm floor construction.

The apartment buildings will be relocated A, B apartment Co Giang and apartment 128, Hai Ba Trung in district 1. Apartment 11 Vo Van Tan district 3, apartment 6 bis Nguyen Tat Thanh district 4, apartment 119B Tan Hoa Dong District 6.

The apartments were dismantled Lot A, B, C apartment Co Giang district 1, apartment 727 Tran Hung Dao district 5, apartment 765 Ben Binh Dong District 8, apartment 350 Hoang Van Thu Tan Binh District and Lot number IV, Thanh Da Residence, Binh Thanh District.

The apartment was renovated 22 Nguyen Trai, 17 Nguyen Thai Hoc apartment, 145 Nguyen Trai apartment, 22 Ly Tu Trong apartment, 62 Tran Hung Dao apartment in district 1.

52 Lao Tiep and 216 Phung Hung apartment buildings, Lot T and X of Ngo Gia Tu apartment building, District 10, Apartment 231/9 Le Van Sy, Phu Nhuan district, Lot VIII, X, XI A, B, E, F Thanh Thanh of Binh Thanh.

According to statistics, HCMC has 474 older buildings, built before 1975 in 15 districts with 27,000 households. Particularly District 5 occupies the most number of 203 apartments.

In order to improve the existing apartment building, the Ho Chi Minh City Real Estate Association has sent a letter to HCM City Department of Construction suggesting that when the new apartment building is completed and put into operation, Owners of old condominiums should be relocated to new apartments that are larger or equal to the size of the old condominium and do not have to be paid for.


See more information at Vietnam Real Estate Investment

Accordingly, for apartments in old condominiums not owned by the State, new apartments will be arranged in resettlement apartments, certificates of land use rights, house ownership and do not pay registration fee when granting land use right certificates or house ownership certificates.

If the apartment owner is allowed to arrange a new apartment but must pay additional space difference, the house owner shall be entitled to borrow capital from the credit institution operating in Vietnam to pay the difference amount payable. Before being granted a certificate of land use right or house ownership.

As for owners of condominiums that are beneficiaries of social housing, they will be borrowed from the credit capital of social housing to buy more the difference in this area.

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