NEWS – EVENT

Land fever in the outskirts and satellite cities of Hanoi and Ho Chi Minh City may discourage investors seeking new locations for their upcoming projects, even as available land plots in city centres vanish.

The prolonged coronavirus emergency has pushed hotel owners to sell off their distressed assets, while having to deal with drops of up to 30 per cent of hotel valuations in the Vietnamese hospitality market.

Foreign investors are planning to expand their operations in Vietnam this year, creating an opportunity for industrial property development despite the COVID-19 pandemic, according to experts.

800 of the country's 1,000 real estate trading floors have closed temporarily due to a sharp plunge in customer demand and signs of an impending economic downturn.

When the real estate legal challenges have not finished, property developers get a harder hit from coronavirus outbreaks.

Saigon land prices have increased 2.5-3 times every decade in the last 20 years, putting house ownership beyond most residents.