Assoc. Prof. Dr. Tran Kim Chung: The 1987 Land Law laid the foundation for the real estate market
- 6
- Business
- 14:38 01/11/2024
DNHN - Assoc. Prof. Dr. Tran Kim Chung, former Deputy Director of the Central Institute for Economic Management, states that the 1987 Land Law laid the groundwork for the development of the real estate market.
Assoc. Prof. Dr. Tran Kim Chung, former Deputy Director of the Central Institute for Economic Management, highlighted the development of Vietnam's real estate market over multiple cycles. He noted that the market has gone through four primary cycles plus an additional transitional period since 1986. Each cycle has been marked by the introduction or refinement of the Land Law, progressively shaping a relatively developed real estate market.
According to Dr. Chung, the 1987 Land Law laid the foundation for the market, but land transactions in this period were still largely informal and unregulated. The 1993 Land Law introduced the concept of land value, giving rise to a nascent market. The 2003 Land Law further identified land use rights as a special commodity, facilitating the strong development of real estate types, especially high-rise apartment buildings.

From 2013 to 2023, when the 2013 Land Law, along with the 2014 Housing Law and Real Estate Business Law, came into effect, the market achieved remarkable milestones. The involvement of banks and the credit system spurred significant growth, bringing the real estate market closer to consumers. Dr. Chung referred to this period as one of monetization, marking a fundamental transformation in the market's operational structure.
At the "Capital Flow into Southern Real Estate" seminar held on October 31, experts noted that Binh Duong is emerging as a hotspot in the southern real estate market. With its favorable location near Ho Chi Minh City, Binh Duong is not only attracting residents but also becoming an ideal location for business development. As a result, demand for commercial housing in this area is on the rise, creating ample opportunities for investors.
Dr. Chung emphasized the importance of transportation infrastructure development in Binh Duong as a key factor. Major infrastructure projects, such as the My Phuoc–Tan Van Expressway, the Ring Road 3, and metro lines currently under development, are expected to enhance mobility and trade, thereby boosting the area's real estate value.
"In light of the various risks present in the real estate market, experts recommend that investors establish a smart investment strategy. Carefully analyzing factors such as market demand, profitability, and especially personal financial capacity will help investors make more informed decisions," he said.
According to Dr. Chung, investors should also consider diversifying their investment portfolios. Instead of focusing solely on one type of real estate, allocating capital across multiple segments can mitigate risks and enhance profitability. Segments such as serviced apartments, shophouses, and resort properties are also increasingly attractive in recent times.
While the current real estate market faces many challenges, experts believe that supportive government policies and growing market demand provide a promising outlook for future growth. Additionally, the entry of foreign investors is expected to create healthy competition, enriching the Vietnamese real estate market.
In a rapidly transforming real estate market, recognizing and seizing investment opportunities will be a decisive factor for investor success. With thorough analysis and smart investment strategies, the southern real estate market is expected to continue attracting strong capital flows in the near future.
Nghe Nhan
Related news
#Real estate

Who are the two mysterious female tycoons holding 52 million HQC shares?
Two female tycoons have emerged as major shareholders of Hoang Quan Consulting-Trading-Service Real Estate Corporation (HQC), holding a combined 52 million shares, with investments totaling hundreds of billions of VND.

More than 1,000 new real estate businesses established in Ho Chi Minh City, transactions grow
In the first nine months of 2024, Ho Chi Minh City's real estate market witnessed the establishment of over 1,000 new businesses and recorded 1,600 property transactions, signaling a positive recovery trend.

Pilot project for commercial housing to expand land use rights
The National Assembly Standing Committee has submitted a pilot project on commercial housing through land use rights agreements for National Assembly consideration, aiming to unlock resources.

Draft resolution on commercial housing: A new opportunity for the real estate market
Amid the challenges facing Vietnam’s real estate market, the addition of a Draft Resolution piloting commercial housing projects brings renewed hope to citizens and promises to boost economic development.

Social housing loan package increased to VND 145 trillion
The social housing loan package, originally valued at VND 120 trillion, has been raised to VND 145 trillion with the participation of nine banks, drawing attention from businesses and consumers.

What should real estate businesses do during a recession cycle?
When the real estate sector enters a recession cycle, businesses in the industry face significant challenges.
Đọc thêm Business
Dong Thap Business Club in Ho Chi Minh City launches support fund to accompany enterprises
More than 150 Dong Thap entrepreneurs in Ho Chi Minh City gathered at Van Hien University to foster business connections, expand cooperation, share practical experiences, and stay updated on current business trends.
Khai Hung corporation signs Strategic Cooperation Agreement with Japanese partners
Signing a cooperation agreement with reputable Japanese partners is a strategic move, demonstrating Khai Hung Corp’s proactive approach in capturing market trends, accessing advanced technology, and leveraging international expertise.
Women entrepreneurs in the Era of National Advancement
The economic forum "Women Entrepreneurs in the Era of National Advancement" aims to honor the role of female leaders, promote collaboration, and connect the business community.
Rice export prices expected to rebound soon due to limited supply
The Vietnam Food Association (VFA) has forecasted that rice exports in 2025 will reach 7.5 million tons. The rice market is currently at its lowest point, but it is anticipated that importers will soon ramp up purchases, driving prices upward.
GDP growth target for 2025: Aiming for a breakthrough pace
According to the proposal, Vietnam's national GDP growth target for 2025 must reach at least 8%, laying a solid foundation for achieving double-digit growth rates.
Economic expert Võ Trí Thành assessed: President Donald Trump’s new trade policy will impact Vietnam
According to Dr. Võ Trí Thành, Director of the Institute for Brand and Competitive Strategy Research, Donald Trump’s new trade policy will have significant effects on Vietnam’s economy. He also provides strategic recommendations for businesses.
Vietnam's market advantage: Investment opportunities in a new context
Balancing interests, striving for a 7.5% GDP growth, enhancing international cooperation, promoting technological innovation, and developing appropriate foreign policies are the "keys" for the nation and businesses to overcome challenges.
Việt Nam sets import tariff quotas for salt and poultry eggs in 2025
The Ministry of Industry and Trade has announced import tariff quotas for salt and poultry eggs for 2025, aiming to meet domestic production and consumption needs.
Brandnew e-commerce law to address policy gaps
The proposed law seeks to address gaps in existing regulations and keep pace with technological advancements and evolving business models.
Bến Tre sets ambitious economic goals in 2025
The southern province of Bến Tre eyes ambitious goals to develop its industrial sectors, increase investment, and improve the business environment.