HCM City Real Estate Association optimistic about 2021

HCM City Real Estate Association (HoREA) is optimistic that the real estate market in 2021 will see strong recovery and provide a large amount of accommodation for the city in the next 5-10 years.

HCM City Real Estate Association (HoREA) is optimistic that the real estate market in 2021 will see strong recovery and provide a large amount of accommodation for the city in the next 5-10 years.

  

HCM City Real Estate Association optimistic about 2021

One of the main development areas is the newly-established Thu Duc City which has the highest number of real estate projects in HCM City. It will attract various kinds of real estate projects. Cu Chi, Hoc Mon, Binh Chanh and Nha Be districts will all be upgraded and urbanised.

Both the number of farmers and farming lands in these districts will be reduced by 3-31%. Can Gio District was planned to become a seaside and eco-friendly town with the mangrove forest which is a part of Can Gio Biosphere Reserve.

According to the HoREA, HCM City has been allowed to convert 26,000ha of agricultural land in several outskirts districts into industrial and commercial lands. The government also issued many support policies to help real estate investors operate and complete procedures more smoothly.

Le Hoang Chau, chairman of HoREA, confirmed that Resolution 148 which took effect on January 1, 2021, the 2020 Investment Law and the adjusted 2020 Construction Law have helped make the policies and regulations clearer and more suitable.

"In 2021, the government will issue more detailed regulations and directives about the Investment Law and adjusted Construction Law to speed up the renovation of dilapidated apartment buildings and apartments for low-income people. This will help boost the real estate market in 2021 and the following years," he said.