Real estate proves hard to find in Can Tho city
Despite being the central urban area of the Mekong Delta region, Can Tho city is facing a scarcity of real estate products this year, with only one project put up for sale in the first quarter.
According to the municipal Real Estate Association, the number of transactions in the locality in 2023 totaled 7,155, down 20% compared to 2022. Last year, Can Tho city had five projects eligible to sell future-formed housing, including three commercial housing and two social housing projects with a total of 1,196 apartments, 11 townhouse lots, and two villa lots.
The Cara River Park project in Cai Rang district, Can Tho city, southern Vietnam. Photo courtesy of Dat Xanh Mien Tay Services and Investment JSC.
It stated that the supply of primary projects in the city will continue to be scarce in 2024, with the main supply coming from the apartment segment, including social and commercial apartments.
Statistics show that Can Tho, one of the five centrally-run cities in Vietnam, currently has about 70 housing projects under construction.
The only project qualified to sell future-formed housing is the Cara River Park project in the South Can Tho Urban Area in Hung Thanh ward, Cai Rang district. The project, developed by Dat Xanh Mien Tay Services and Investment JSC, offers 338 residential and 20 commercial serviced apartments.
In addition, there is only one project eligible to mobilize capital, called the Green Dream apartment project on Nguyen Van Quang street, Nam Long Residential Area, Hung Thanh ward, Cai Rang district, invested by Nhip Dieu Xanh Architecture Joint Stock Company.
Limited supply of residential real estate, especially housing for real needs, has been attributed to legal problems and poor financial resources among developers, the association said, adding that transactions have mainly come from transfers of real estate in projects launched many years ago.
The association forecast that in 2024, primary selling prices will increase, especially in the apartment segment, with a rise of 5-10% year-on-year. This segment has become a new settlement and investment trend, receiving a positive response. Meanwhile, secondary selling prices may increase slightly.
The land plot segment in particular will continue to see scarce supply and will increase in price sharply in 2024 as a regulation that bans land division for sale in urban areas will take effect on January 1, 2025.
- Related News
- Read More
Vietnam plans to increase electricity imports from China, Laos by 2030
The Vietnamese Ministry of Industry and Trade (MoIT) aims to raise electricity imports from China and Laos by 3,000 MW and 2,500 MW by 2030, over 5 times and nearly 1.6 times higher than those stated in the current Power Development Plan VIII (PDP VIII), respectively.
Energy - Mon, February 17, 2025 | 4:14 pm GMT+7
Vietnam urges Turkish contractor to speed up mega Long Thanh airport's terminal construction
Türkiye-based IC ICTAS, the lead contractor of the passenger terminal within the under-construction Long Thanh International Airport, should speed up the construction of the package, said Vietnamese Deputy Prime Minister Tran Hong Ha.
Infrastructure - Mon, February 17, 2025 | 3:27 pm GMT+7
Vietnam tech giant FPT to provide high-quality AI human resources
With the groundbreaking of an inter-level school on Sunday, FPT Corporation is completing its education system from elementary to university levels in the south-central province of Binh Dinh, to provide high-quality human resources, particularly in AI.
Companies - Mon, February 17, 2025 | 11:32 am GMT+7
Japan pneumatics firm SMC to start $330 mln Vietnam expansion from July
SMC Manufacturing Vietnam, under Japanese pneumatic instrument producer SMC, aims to start its $330 million expansion in Vietnam from July.
Industries - Mon, February 17, 2025 | 10:47 am GMT+7
Institutional breakthroughs to provide solid foundation for heightened business confidence: economists
At a meeting of the National Assembly's Economic Committee in early February, the government proposed the 2025 GDP growth be "8% or more", instead of 6.5-7% set last November. The Investor introduces opinions of some leading Vietnamese economists on this proposed target.
Economy - Mon, February 17, 2025 | 8:02 am GMT+7
Vietnam consumer credit enters new growth cycle
After the decrease in consumer capital demand, negative growth, and peaking bad debts in 2023, Vietnam’s consumer financial market is entering a new growth cycle, backed by positive signs from the macroeconomic environment.
Finance - Sun, February 16, 2025 | 3:19 pm GMT+7
Vietnam property investors seek new opportunities in provincial markets
Real estate investors in Vietnam, both individuals and organizations, are shifting their investments from city centers to suburban regions and neighboring provinces where land remains abundant and significant investments are being made in infrastructure, particularly in transportation.
Real Estate - Sun, February 16, 2025 | 2:00 pm GMT+7
Five Vietnam pilgrimage destinations perfect for spiritual seekers: Booking.com
Booking.com, the world's leading digital travel company, has suggested some destinations in Vietnam for those seeking spiritual enrichment and a chance for reflection and connection, including Ba Den mountain and Bai Dinh pagoda.
Travel - Sun, February 16, 2025 | 10:59 am GMT+7
Malaysia takes the lead in data center development
Malaysia is making efforts to align with the global trend towards digitalization, which is driving demand for data centers, cloud computing, blockchain, and artificial intelligence (AI).
Southeast Asia - Sun, February 16, 2025 | 10:57 am GMT+7
WB sees Thai fiscal risks mounting due to spending surge
Thailand’s pursuit of an expansionary fiscal policy strategy to propel growth faces the risk of rising costs for elderly care, investment and the need to keep public debt level to sustainable levels, according to the World Bank.
Southeast Asia - Sun, February 16, 2025 | 10:41 am GMT+7
Vietnam mining stocks rally amid global trade tension
Shares of Vietnam’s mining companies have rallied since early this month, fueled by heightened global trade tensions following the start of Donald Trump’s second term as the U.S. president.
Finance - Sun, February 16, 2025 | 10:36 am GMT+7
Online purchase below VND2 mln may be exempt from Vietnam import tax
The Vietnamese Ministry of Finance has proposed exempting goods purchased through e-commerce platforms worth no more than VND2 million ($78) from import tariff, with an annual purchase limit of VND96 million ($3,781).
Finance - Sun, February 16, 2025 | 8:00 am GMT+7
Malaysia expected to remain magnet for FDI
Malaysia’s foreign direct investment (FDI) is expected to remain robust in the long term, but there could be repercussions in the short term as investors hold back on their investment decisions amid heightened global uncertainties.
Southeast Asia - Sat, February 15, 2025 | 9:01 pm GMT+7
Laos to build $1.9 bln wind power plant to export electricity to Vietnam
The Lao Government and Chitchareune Construction - a Lao builder will jointly build the 1,200 MW Nong wind power plant, with an investment of $1.9 billion, to export electricity to Vietnam.
Energy - Sat, February 15, 2025 | 8:46 pm GMT+7
Malaysia needs more funding for semiconductor sector
Malaysia needs more funding for the implementation of the National Semiconductor Strategy (NSS) to enhance its competitiveness with neighboring countries, said Penang Chief Minister Chow Kon Yeow.
Southeast Asia - Sat, February 15, 2025 | 4:31 pm GMT+7
Thailand considers easing rules on income from overseas
Thailand’s government is considering easing personal income tax rules for individuals’ overseas income to encourage the remittance of those funds back into the country, said a senior official.
Southeast Asia - Sat, February 15, 2025 | 4:29 pm GMT+7
