The property market tends to stagnate in August, a normal thing for this time of the year as August coincides with the seventh lunar month, traditionally called the Ghost Month.
Hanoi (VNA) – The property market tends to stagnate in Aug🌳ust, a normal thing for this time of the year as August coincides with the seventh lunar month, traditionally called the Ghost Month.
The folk belief makes many people keep off making “big” business this month such as real estate sales and purchases.
Meanwhile, some people have taken advantage of this time to make deals at better prices as property sellers also want their business affairs to remain smooth during the Ghost Month, according to real estate agents.
As a result, the unsold property inventory has shrunk though the pace of reduction has slowed down.
Total unsold real estate is valued at nearly 36 trillion VND (1.6 billion USD) nationwide, down over 14.9 trillion VND (or 29.3 percent) from the end of 2015 and 1.5 trillion VND from Q2 this year.
Notably, up to 16 trillion VND of the inventory is housing land at nearly 4.4 million square metres. It is followed by low-rise houses (4,951 units worth some 9.9 trillion VND), and condominium apartments (4,883 units – nearly 6.9 trillion VND).
More than 1 million square metres of land for commercial purposes worth 3.25 trillion VND remain unsold.
Ho Chi Minh City posts the largest unsold property value in Vietnam at present, about 6.6 trillion VND – a decline of over 3.5 trillion VND (or 35 percent) from 2015 and 216 billion VND against the end of Q2.
The value of unsold real estate in Hanoi is around 5.8 trillion VND, down 923 billion VND (or nearly 14 percent) from 2015 and 64 billion VND from Q2.-VNA
The local apartment-for-sale market, which saw positive developments in the first half of this year, is expected to maintain growth till the end of 2016, experts said.
Hanoi Municipal People’s Committee has decentralised power in granting construction permits, which is expected to help it better manage and curb violations in construction.
Investment from Singapore into Vietnamese real estate is increasing with the presence of seasoned investors, according to Dau Tu (Investment) newspaper.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Condominiums under construction (Photo: VNA)
