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HCMC to Maintain Real Estate Prices - Vietnam Briefing News

Dec. 4 – Authorities are determined to maintain real estate values in Ho Chi Minh City to maintain stability and avoid the market from overheating.

In a new proposal only 17 of the city’s 2,890 streets will have their prices adjusted for 2010. The priciest piece of real estate is still Dong Khoi, Nguyen Hue and Le Loi streets downtown at VND81 million per square meter reports the Vietnamese daily publication,  Tuoi Tre.

The lowest priced real estate in the city can be found in Can Gio District at VND1.2 million per square meter. If the proposal is approved, the new land valuation system will be implemented on January 1, 2010.

Official land valuations are used as a guide for tax purposes. Since 2007, the price of real estate in certain districts have more than doubled.