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THE MILLENNIUM GROUP OF COMPANIES

THE MILLENNIUM GROUP OF COMPANIES

The Real Estate Business in Vietnam is Going to Flourish After They Remove All the Obstacles

Vietnam is a country located in Southeast Asia, bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea to the east. Its capital is Hanoi and its largest city is Ho Chi Minh City.

Vietnam has a rich history, with evidence of human habitation dating back to the Paleolithic Age. In more recent times, the country was colonized by the French in the 19th century and became embroiled in the Vietnam War in the 20th century. The war ended with the fall of Saigon (now Ho Chi Minh City) in 1975, and Vietnam was reunified under communist rule. 

In this news, we tell you the latest news the government released on Sunday. ‘The real estate business in Vietnam is going to flourish after they remove all the obstacles’.

The Real Estate Business in Vietnam is Going to Flourish After They Remove All the Obstacles

According to the Vietnamese government’s latest news that was released on Sunday, the new real estate legislation aims to remove obstacles in the real estate market. They are concerned with sustainable growth and want to address the current housing market’s supply-and-demand imbalances. 

Most importantly, they promote credit and corporate bonds as a means of generating capital, with a particular emphasis on institution building, the creation of social housing, and the promotion of accountability.

At the end of 2022, real estate-related credit stood at almost USD 33.65 billion, according to the State Bank of Vietnam. According to data compiled by Vietnam’s Ministry of Finance, the value of corporate bonds issued as of October 28, 2022, was 328.9 trillion VND, down 25.2% year over year and down quarterly, with real estate companies accounting for 28.87% of the total.

The goal of revitalizing the real estate industry necessitates modifying several statutes, including the Law on Land, the Law on Housing, the Law on Real Estate Business, and the Law on Bidding.

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Manahil Tariq
Manahil Tariq

Manahil Tariq, A content writer and copywriter with over 2 years of experience. Throughout her career, she worked with a diverse group of clients from around the world. She also works with real estate firms and marketing agencies. Writing is where her skills and expertise really shine.

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