10 memorable events of HCM City real estate market

With the economy been hit hard by Covid-19, the HCM City real estate sector has been facing difficulties. However, there are still bright spots. Offices, retail premises In principle, all construction works will be monitored and examined from the day they kick off to the day they are put into operation. Offices for lease and retail premises are the market segments which first suffered from the pandemic. As enterprises and individuals had to scale down their business, they gave back retail premises to landlords. As a result, landlords had to lower the rents to attract more tenants. Some of them even exempted rents during lockdown to retain clients. A market survey firm reported that the office rent dropped by 5-10 percent compared with the time before the pandemic, while retail premises fell by 30-50 percent. 61 slow projects cancelled In December 2020, the HCM City People’s Council approved the cancellation of the plan to take back land of 61 projects. The land was planned to be recovered in 2015-2017. However, to date, investors have not implemented the approved plan on using the land. These include commercial housing projects, such as The Queen Square in Binh Thanh district registered by The… Read full this story

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