The real estate market in Hanoi in the upcoming years is still very large

Mr. Nguyen Duc Chung, Chairman of City People's Committee Hanoi said that the urbanization rate in Hanoi is now only 53%, striving to 2030, with a vision to 2045 will reach over 70%.

On the evening of July 27, at the conference of national member of Vietnam Real Estate Association 2019, Chairman of the City People's Committee Hanoi Nguyen Duc Chung said that in recent years, Hanoi was among the cities of Vietnam with the fastest urbanization speed. The capital was increasingly modern, civilized, and the face had drastically changed. The real estate market in Hanoi also had a remarkable growth thanks to the efforts of investors and real estate developers.

Investors chose Hanoi thanks to good infrastructure, convenient transportation, and complete industrial parks... Especially, the demand for housing was high due to the strong growth of the population in Hanoi. Therefore, real estate was an attractive investment channel thanks to its good liquidity. "The real estate market in Hanoi and urban areas in the upcoming years is still very large. At present, urbanization of Hanoi is only 53% and heading to 2030 and vision to 2045 is to have an urbanization rate of over 70%".

Chairman of City People's Committee Hanoi said the real estate market in Hanoi is very large

Mr. Chung also said that the Prime Minister had directed and assigned Hanoi to participates in ASEAN's smart urban network. Therefore, Hanoi planed to build a smart city in the near future. With new cities in the near future, Hanoi wanted investors to build smart urban areas and smart buildings to serve the people.

President of Hanoi assessed that, not only well serving the legitimate and legitimate needs of the members, the activities of the Vietnam Real Estate Association also created an attractive "playing field" for high benefits for the real estate businesses. The Hanoi government wants the Association to be a bridge to gather members to build the Hanoi market in particular and the whole country in general, to connect members with the City, the Government and other ministries. Since then, bringing the Association to develop and participate in the common network of Asean Real Estate Association and World Real Estate Association. Thereby, the Association will be a bridge for investors to send aspirations to the city government, thereby making adjustments and simplifying procedures to create a business and investment environment, including real estate field.

Regarding the policy mechanism, the Association also made recommendations to the Government so that the Government could make favorable policies in the spirit of "Focusing on people and businesses to serve".

Hanoi President Nguyen Duc Chung emphasized: "On that basis, we will listen and make adjustments in accordance with the conditions, in accordance with the provisions of the law. At the same time, there will be recommendations to the Government, Central Ministries to make the most favorable reforms for investors' business and investment environment".

According to Infonet