Saturday, December 07, 2019 9:02:08 PM - Markets open
VN-INDEX 963.56 +0.29/+0.03%
HNX-INDEX 102.50 +0.13/+0.13%
UPCOM-INDEX 55.92 +0.06/+0.11%
Property market still attractive in medium, long terms: forum
VietnamPlus - 5/17/2019 12:55:45 PM
 (0 ratings. You must sign in to rate.)
An insider has predicted a good outlook for the property market in the medium and long terms despite signs of decline in recent months.
At a forum in Hanoi on May 16, Chairman of the Vietnam National Real Estate Association (VNREA) Nguyen Tran Nam said real estate companies listed in the stock market have recorded some drops in their revenue and profit.
Though the Government has been making efforts to create an open and healthy business environment, there haven’t been any strong improvements, according to enterprises.
He cited recent data as showing that in Ho Chi Minh City, the number of construction licenses have decreased 16 percent, and 150 projects have been halted to be inspected. 
Meanwhile, according to a report of the Vietnam Association of Realtors, apartments and villas offered for sale in Hanoi and HCM City have dropped, equivalent to about 70 percent of the supply in the fourth quarter of 2018.
However, Nam noted, the strongest point of the Vietnamese property market is great demand and liquidity. 
Statistics of the United Nations pointed out that people with average income from 1,000 to 10,000 USD usually buy houses, and Vietnam is a country with per capita income in that range.
He expressed his belief that the market will be very good in the medium and long terms, adding that about 1 million people move from rural to urban areas each year, and Vietnamese people often save money to buy houses.
At the event, Can Van Luc, senior economist at the Bank for Investment and Development of Vietnam (BIDV), said there is now an influx of capital into real estate and a surge in the number of property businesses.
Foreign direct investment in the property sector reached some 6.5 billion USD in 2018. With this trend, industrial and commercial real estate and social housing will continue expanding in the time ahead, he said.
Echoing the view, Deputy Director of the Central Institute for Economic Management Tran Kim Chung said the property market is not too worrying, and industrial real estate and housing, particularly high-end housing and affordable housing for rent, still have room to develop.
Some other experts said many businesses are shifting their focus to tourism and industrial real estate and offices for lease, which will be in demand in the coming time when more foreign firms will come to invest in Vietnam to seek benefits from new-generation free trade agreements.-VNA
Read original article here
Newer News
29/11 MoC releases first quarterly real estate market report
09/11 Tourism to boost hotel real estate segment in Việt Nam
25/10 Workthere expands to Việt Nam
08/10 Prices of Grade A office space rise due to low supply
19/08 Rising demands for realty with long-term ownership
08/07 VN to boost professional real estate brokers
07/07 VN to boost professional real estate brokers
24/06 Property market heats up in Binh Phuoc province
19/06 Excitement rises in Vietnam’s real estate
13/06 NVL: Takes expo to introduce a range of projects
Older News
14/05 HCM City: 46.8 percent of FDI goes to property sector
13/05 Vietnam’s real estate market likely to stay stagnant this year
03/05 Real estate at the heart of economy
27/04 HoREA offers proposals to help real estate firms access long-term bank loans
26/04 The Zei – one of Hanoi's most wanted projects launched
19/04 Domestic property market stable in Q1
18/04 VN property market unlikely to see big dip, says Savills global chief
12/04 Savills Group CEO: HCM City – a promising market in real estate
10/04 Vietnamese real estate market attracts Japanese firms
08/04 Tourism property sector has great potential for growth: forum
Newsletter Signup
Top Stories
Reference exchange rate down 3 VND on December 6
Vietnam’s economy stays positive amid global growth slowdown: PM
Vietnam attracts 31.8 billion USD in FDI in 11 months
Software firms are adding more value to their products
VN30 firms take 92% of all top listed firms’ total Q3 profits
Market Update
Last updated at 3:10:01 PM
VN-INDEX 963.56 +0.29/+0.03%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.