Apartments for sale under VND 40 million / m2 ‘disappear’ from the real estate market in HCMC

Minh Hoàng
April 20, 2021

– There are nearly 3,000 apartments and houses in Ho Chi Minh City eligible to sell houses formed in the future, but the segment of mid-end and affordable housing with prices below 40 million / m2 has almost disappeared.

– Ho Chi Minh City Department of Construction has just reported on housing development and real estate business in the past month.

– In February 2021, the Department of Construction of Ho Chi Minh City confirmed 3 housing projects eligible to mobilize future housing capital with a total of 2,940 houses. Including 2,786 apartments and 154 low-rise houses.

– All houses eligible to mobilize this phase are in the high-end segment, with prices over 40 million VND / m2. There is no housing product in the mid-end segment (selling price from 20-40 million VND / m2) and affordable segment (price below 20 million VND / m2).

Căn hộ giá bán dưới 40 triệu đồng/m2 ngày càng khan hiếm tại TP.HCM.

– From the beginning of 2021 up to now, in Ho Chi Minh City, there are 5 commercial housing projects eligible to mobilize future housing capital, with 3,449 houses.

– The situation of violating the construction order is still complicated. Through inspection of more than 8,000 works, the Department of Construction discovered 53 cases of construction with the wrong, unauthorized and other violations.

– In order to solve the shortcomings in real estate transactions, especially the transfer of future houses between the investor and the client, the People’s Committee of Ho Chi Minh City instructs relevant departments to perform many contents.

– Accordingly, the Department of Justice coordinates with the Department of Natural Resources and Environment to carry out instructions on a number of contents on registration of mortgage of land use rights and land-attached assets.

– The Department of Industry and Trade informs investors of housing projects, ensuring that they comply with regulations on forms of contracts. All investors must register for an apartment sale and purchase contract in the prescribed form, both in terms of the form and content of the contract.

– “Organize regular or ad-hoc inspection of cases reported by the press or people to promptly handle according to regulations, in order to ensure the interests of customers to buy and sell houses, to avoid disputes. accept, complain, and bring complaints to cause unsecurity and order “, HCMC People’s Committee directed the Department of Industry and Trade.

– In addition, the City People’s Committee continues to direct the Department of Construction to coordinate with the People’s Committees of districts to strengthen inspection, examination and handling of violations in the field of construction and real estate business.