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Property

Hanoi hosts Vietnam Real Estate Summit

Released at: 16:12, 13/12/2018

Hanoi hosts Vietnam Real Estate Summit

Photo: Ngoc Lan

Summit hears from range of experts on market activity and future.

by Ngoc Lan

Vietnam’s real estate market will continue to evolve in a positive manner and record high growth in 2019, experts told the Vietnam Real Estate Summit 2018 (VRES) in Hanoi on December 12.

Speaking at the summit, Ms. Duong Thuy Dung, Senior Director of CBRE Vietnam, said that the amount of new supply throughout the country was maintained at a high level in 2018. As at the end of November, the Hanoi market had about 33,000 new apartments, up 2,000 compared to 2017, while Ho Chi Minh City had 32,000, up 1,000.

CBRE’s research also noted that the high-end and luxury segments saw an increase of about 8-9 per cent over the last year, while the amount of mid-end, affordable housing is relatively low, increasing 1-3 per cent. Prices in the high-end segment may rise to $6,000 - $7,000 per sq m when supply in city centers is limited. The mid-end segment will be stable but find it difficult to rise.

Mr. Nguyen Quoc Anh, Deputy General Director of batdongsan.com.vn, said there were many positives in the country’s real estate market this year, in which the apartment and land segments saw the most transactions and interest.

The market will continue to grow in 2019, he went on, thanks to macroeconomic factors, with GDP growth being forecast at 6.8 per cent and inflation curbed to below 4 per cent, and well as the increasingly professional adoption of Industry 4.0 among enterprises.

On the financial side, financial expert Dr. Can Van Luc said the economy is growing well and creates favorable conditions for the real estate industry to develop. “With the global economic situation, Vietnam’s real estate market still many opportunities despite facing certain challenges.”

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