Many businesses in the country have invested in these property products, despite the lack of a specific legal framework for condotels, officetels and resort villas.
HCM City has allowed the conversion of officetel projects into other purposes, except for residential purposes, to meet the city’s urban development demand, more than a year since it halted licensing new officetel projects.
HCM City People’s Committee has sent a document to the Government Office to ask Prime Minister to issue regulations on officetel, condotel and resort management.
The real estate market of Viet Nam is anticipated to soon see a boom in property products with “hotel” factor as developers are gearing up to catch the trend of owning second home as an investment asset in the Southest...
