Decree 71/2010/ND-CP, on the implementation of the Housing Law, had a big impact as it clarified the fundraising activities of investors when it came into force in August, 2010. Circular 16/2010/TT-BXD then offered guidelines to Decree 71 and combated speculators’ rising influence since when it went live in October, 2010. Tran Oanh, general director of Nam Cuong Hanoi Group, said the legal documents increased transparency of vietnam real estate market.

The sinking liquidity of the Hanoi real estate market is revealing difficulties facing the market. Remarkably, a lot of upmarket apartments are being sold off while prices of foundation soil are going down after a period of resistance. This is sending many investors to a more terrible dilemma.

Five urban satellite towns will include Hoa Lac, Son Tay, Xuan Mai, Phu Xuyen, Phu Minh and Soc Son. Each satellite town will include one or more specific characteristics to support and share the need for urban housing, high-quality training, industry and services, and job creation.

Owners of high grade apartments have all been lowering rental charges to lure clients. Daily, the number of vacant apartments has been increasing. A lot of investors, who purchased apartments for later resale or lease to earn a profit are now like cats on hot bricks.

Rumor has it that land prices in eastern Hanoi, including Long Bien and Gia Lam districts, has been escalating daily. VietNamNet has found out that there is no land price fever.

The competition in the high-end office segment in western Hanoi will become stiffer over the next two years. The change will be sparked by Keangnam Hanoi Landmark Tower and Charmvit’s Grand Plaza coming online.

A survey on Viet Kieu (overseas Vietnamese) investment at a conference on establishing the Overseas Vietnamese Businesses’ Association revealed that most wish to invest in real estate.

According to a report by UK real estate service provider Savills, only around 1,800 of 9,000 apartments available in Ho Chi Minh City were sold in the first three months this year, down 48 percent from the final quarter of 2009. The market is still gloomy, the company said.

While apartments were the choice of many property buyers it appears tastes are changing and instead people are wanting street-fronted houses.

Real estate is swiftly becoming the most attractive investment opportunity for Vietnamese financiers, especially as other areas of development become pricier and less desirable to investors.