The domestic real estate market has bottomed out and is gradually making a U-turn, promising a brighter outlook this year with mergers and acquisitions (M&A) bouncing back.

Minister of Natural Resources and the Environment Dang Quoc Khanh believes that if the Land Law takes effect earlier than planned, this will help the property market, free up land resources, and speed up public investment and social housing projects.

The real estate sector has been bustling with a series of positive signs, as some resort projects are reactivated, industrial ones implemented, and new housing supply entering the market.

Ho Chi Minh City and Hanoi have been included in the Savills list of fastest-developing cities on the planet recently released by the commercial real estate brokerage firm.

With around 20 million four- and five-star room nights available in Vietnamese hotels each year, developers should halt new projects in many coastal areas until such time that tourists fill them, according to property consultancy firm Knight Frank.

Since the beginning of 2022, the industry has swiftly rebounded after a prolonged disruption caused by the pandemic.

Realtors and experts believe that if the Law on Real Estate Business, Law on Housing and Land Law take effect six months earlier than initially planned, the problems in the market will be settled.

The Land Law 2024 is expected to help Vietnam attract billions of dollars of remittances each year, contributing to promoting the growth of the real estate sector, according to insiders.

The ministry carried out inspections at 19 real estate companies and asked them to pay an addition of VNĐ255.7 billion to the State budget.

Vietnam's economy has been exhibiting diverse signs of recovery, with growth projected to reach 5.5 percent in 2024 and gradually climb to 6 percent in 2025, as per the latest Economic Update Report released today, April 23, by the World Bank.

Amid a “thirst” for capital of real estate businesses, the strong inflow of remittances is expected to heat up the market again, held insiders.

Outstanding real estate as of the end of 2023 reached VND2.88 quadrillion, according to State Bank of Vietnam (SBV).

When the amended Land Law comes into effect in January 2025, more overseas Vietnamese will be able to own local property.

A recent Cushman & Wakefield report has highlighted the growth potential of the real estate market in northern Vietnam, driven by the region’s robust infrastructure, emphasis on high-value industries, and increasing foreign investment.

Following contract signings, developers must promptly notify the local housing management agency of the transactions so that the database can be updated.

The Land Law (revised), which expands land use rights for overseas Vietnamese (OV) and Vietnamese citizens residing abroad, meets the aspirations of OVs and contributes to mobilising investment resources to Vietnam at the same time.

Vietnam's property market is attractive for foreign investors, according to experts.

The efficiency of an infrastructure project is only realized when the development of real estate alongside the projects is sustainable and leads the local socio-economic development.

Nine out of every 10 foreign house buyers in Vietnam choose apartments when buying , and most plan to sell later when prices increase. Very few foreigners buy apartments for their own accommodation.

Real estate businesses in Vietnam are calling for further interest rate cuts, citing uneven rate cuts among banks and complex borrowing procedures as persistent obstacles to securing loans.