Industry experts have pointed to Vietnam's economic recovery, a thriving office and residential market, and surging demand for industrial real estate as significant factors solidifying the country’s status as a prime investment destination in Southeast Asia.
If prices in the real estate market increase by more than 20% for three months, ministries and branches managing the property market have to propose measures to regulate the market.
The industrial real estate segment has emerged as a driver of the property market after sailing through the economic storm last year thanks to the foreign direct investment (FDI) influx, experts have said.
A representative of the Ministry of Natural Resources and Environment said the widening of the provisions allowing Overseas Vietnamese to own houses will increase the capital flow into the country and promote the utilisation of the land resources in a more effective way.
A total of 2.75 quadrillion VND (41 billion USD) went into the property market in 2023, according to the State Bank of Vietnam (SBV), an increase of 6.75% in comparison to last year.
Real estate has emerged as the biggest recipient of foreign direct investment (FDI) in January while foreigners now also have great demand for property in Vietnam, statistics show.
Prime Minister Pham Minh Chinh on December 17 issued an official dispatch asking relevant ministries, agencies and local authorities to take drastic solutions to ensure the safe, healthy and sustainable development of the property market.
Applying information technology in the real estate sector is a major trend, helping to easily connect parties in need with product and service providers, and changing the path of the Vietnamese property market, according to experts.
The government considers the property market an important pillar of the economy and measures are underway to address the sector's difficulties in recent years, said policymakers and industry insiders at a conference on credit policy in Hanoi on November 13.
Despite the Government’s concerted efforts to address the challenges of the property market, the market won’t improve until the end of 2024 due to a lack of affordable housing, experts have warned.
The Indonesian government has announced a plan to boost the property market by covering the value-added tax (VAT) and the 4 million IDR (252 USD) administration fee for low-income home buyers.
Despite the Government’s efforts to address them, the challenges for the property market will continue until the end of next year, experts have warned.
Hai Phong's property market is expected to develop strongly with support from infrastructure development, higher foreign investment and economic growth, according to Savills.
Continuous interest rate cuts and support policies are gradually proving effective, helping ease difficulties facing the real estate market, experts have said.
A wave of foreign businesses are coming to learn about potential real estate projects in Vietnam to carry out mergers and acquisitions (M&As), reported Dau tu (Vietnam Investment Review) newspaper.
Property developers in Vietnam face a steep path to long-term growth, with various hurdles awaiting them in the next 12 months, including challenges related to funding access and an evolving regulatory landscape.
