The official information on VND100 trillion (over US$4.76 billion) credit package for the domestic real estate market may be announced next month.

The local property market has shown signs this year that property development will continue, after a weak 2013, according to experts.

Analysts expect 2014 will be a more successful year for the Vietnamese real estate market, after the year began with an increase in the number of apartment transactions.

VinaCapital’s real estate arm VinaLand recently announced that it would finish the revised design for the long delayed mixed-use Times Square Hanoi development this year.

Mitsui Fudosan, a Japanese urban service supplier from Japan is looking to establish a new urban development in northern Hanoi.

Apartment owners are welcoming the removal of a proposed plan to limit ownership of apartments to just 70 years.

Only one real estate project has been transferred to a foreign investor so far, while the foreign direct investment (FDI) in the real estate sector has decreased.

Although foreign investment in real estate increased in terms of the number of projects in 2013, the actual cash value invested was much lower than in previous years, leaving many claiming that the sector has yet to recover as an attraction to foreign capital flows. Linh Ngoc reports.