Land "fever" in the planned Phu Quoc special administrative economic zone in southern Kien Giang province. (Photo: theleader.vn)
Hanoi (VNA) - The real estate marketcontinues to be attractive to investors, but the level of competition would bemuch higher this year and the following years.
This was heard at the Vietnamese business forum:voices of property companies in the 2018-19 period held in Hanoi this week. Theforum was under the award ceremony of BP500- Top 500 Best Prosperous Firms 2018in Vietnam.
The report based on a survey of the top 500companies showed that real estate would continue to be a stable and attractiveprofitable channel this year.
However, the competition would also be fiercer asthe market has high integration, requiring businesses to pay attention tosustainability and longevity of their projects.
The report also revealed that the macro-economywhich was expected to have stable growth this year would be a pre-condition forestate, construction, retail and high quality agriculture sectors in theupcoming time.
Prof Dang Hung Vo, former Deputy Minister ofNatural Resources and Environment, said the shortage of information in theproperty market has been a big issue for its development.
Recent land fever in special administrativeeconomic zones as well as other forecasts on the real estate market is only“qualitative”, Vo said, adding that the market still lacked of publishedinformation.
He gave an example that such information of howmany condotels will be offered in central Da Nang city and whether capitalshould flow into the real estate market or not should be published.
“If we do not have data, we cannot discuss aboutdevelopment, forecasts and co-operation among investors in the estate market,”he added.
Vo suggested that the Government should have realand open data to help investors have an overall view about the market.
Sharing the ideas, Dang Huy Dong, former Deputy Ministerof Planning and Investment, said there should be cooperation between theGovernment and businesses to ensure information in the market.
Dong said the property market has not hadinformation only on estate projects but also materials, suppliers and finance.
“The real estate market has been an importantindex of the economy in addition to securities and the macro-economy,” he said.-VNA
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Land "fever" in the planned Phu Quoc special administrative economic zone in southern Kien Giang province. (Photo: theleader.vn) 
