Nam Long Chairman: Hanoi real estate is "hot" in price, will spread to the South

(Dan Tri) - Nam Long Chairman said that the price of apartments and townhouses in small alleys in Hanoi increased because supply could not meet demand. The price increase is normal and Ho Chi Minh City may also experience the same.

Mr. Nguyen Xuan Quang - Chairman of Nam Long Investment Joint Stock Company (stock code: NLG) - assessed that laws related to the real estate market such as the Housing Law, Land Law, and Real Estate Business Law were passed early from August 1, creating positive impacts on businesses and home buyers.

The law creates a better legal corridor for development in the following years, all regulations will be clearer instead of overlapping.

Regarding the market, Mr. Quang said that the law also affects the cost and selling price of products. In fact, the Vietnamese real estate market has been stuck in legal issues since 2017, resulting in a lack of supply. New regulations on determining land prices more clearly will help remove this bottleneck.

He said that the Hanoi real estate market has shown signs of strong recovery, in many different segments, including apartments and small townhouses, which are also "heating up" in price. The spillover will affect the South, creating growth momentum for the market.

Explaining this statement further, the Chairman of Nam Long said that Ho Chi Minh City has an average increase of 1 million people every 5 years, the immigration problem not only in Ho Chi Minh City but also in neighboring provinces has increased very strongly. Meanwhile, projects with legal problems have not been brought to the market since 2017, leading to a lack of supply.

Similar to Ho Chi Minh City, Hanoi is also in a similar situation. When supply cannot meet demand, especially when affordable products disappear, it is normal for Hanoi to increase prices, due to the law of supply and demand, Mr. Quang emphasized.

Nam Long expects to record sales from many projects next year (Illustration photo: NLG).

Recently, thanks to many policies to remove legal obstacles and changes related to legal regulations, Nam Long has also improved in many different projects.

Specifically, the C4 Bien Hoa subdivision (Dong Nai) has been approved for legal 1/10,000, Nam Long leaders said that the authorities are taking steps to support and promote legality so that projects in the subdivision (including Nam Long's Izumi City) can be implemented sooner. Or like the Nam Long Can Tho project, the company has paid land use fees to quickly implement.

Mr. Lucas Ignatius Loh Jen Yuh - General Director of Nam Long - assessed that the new laws coming into effect have helped the real estate industry become more transparent, ensuring the rights of buyers.

The new regulations set stricter requirements for investors when opening products for sale, clearly disclosing information; strict regulations on project licensing, granting pink books, reducing the phenomenon of residents not being granted books for many years.

Source: https://dantri.com.vn/bat-dong-san/chu-tich-nam-long-dia-oc-ha-noi-nong-ve-gia-se-lan-toa-vao-phia-nam-20241210171532757.htm