Inveskia, a joint venture between the Republic of Korea’s Vina Development Inc and two local companies, will build luxury apartments in Ho Chi Minh City at a cost of US$100 million.

Many property investors have been slow in paying back their bank loans because of the slump in the real estate market, independent market watchdogs say.

The Government organised a meeting along with the HCM City Real Estate Association (HoREA) last Saturday to discuss difficulties faced by property investors and find ways to overcome them.

Reducing land clearance and compensation difficulties are key issues the draft amended Land Law focuses on.

The Prime Minister has approved the adjusted plan on construction of the Hoa Lac Hi-tech Zone, giving the green light to begin construction of the national hi-tech development and application centre.

More and more real estate developers are now seeking capital by issuing bonds. However, it remains unclear if the bond issuances violate current laws.

Nguyen Van Hung’s dream of a bigger house for his family came true recently. The 50-year-old resident of Ha Tay province’s Phu Vinh village, replaced the dilapidated shell which was his house, with a spanking-new three-storey building, complete with television, fridge and wardrobes.

Work began last Saturday on Vietnam's largest tourism venture to date, the Ho Tram Strip in the coastal province of Ba Ria - Vung Tau, which is being developed at a cost of about US$4.2bil.

Head of the HCM City Economics Institute Tran Du Lich said that real estate prices will not go up to follow the interest rate increases as virtual demand will decrease.

A large number of domestic and foreign businesses have praised the National Assembly’s adoption of a resolution that permits foreigners living in Vietnam to buy apartments.

Hundreds of Song Da-Thang Long Joint Stock Company customers who signed contracts to buy houses in northern Ha Tay province’s Van Khe residential area are crying out for a fair go.