Developers and authorities discuss the HCM City region property market at a workshop in the city on April 16. (Photo: VNS/VNA) HCM City (VNS/VNA) – The skewed concentration of property projects in some areas of Ho Chi Minh City has resulted in an imbalance in the development of satellite cities and causes a strain on the transport system, a workshop heard in the city on April 16. In 2017 the Government approved a master plan for the period until 2030 for the HCM City region, which covers an area of more than 30,000 square metres comprising HCM City and the seven surrounding provinces of Ba Ria – Vung Tau, Binh Duong, Binh Phuoc, Tay Ninh, Long An, Dong Nai, and Tien Giang. It creates a legal framework to attract investment in satellite cities and real estate markets in outlying areas, Nguyen Tuan Anh, editor-in-chief of Nha da utu (Investor) magazine, told the workshop. New regulations in the city to tighten the issue of licences to property projects resulted in a drastic drop in supply, boosting the real estate markets in neighbouring provinces, he said. But there is an imbalance in the development of satellite cities, affecting the implementation of the… Read full this story
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