Vietnam’s economic growth remained stable over the opening months of 2019, standing at 6.79 per cent in the first quarter. Under the government’s management, this year’s growth target of 6.6 to 6.8 per cent is perfectly achievable.

   Due to continued strong economic growth, rapid urbanization growth, and the construction of several mega projects in major cities, the outlook for Vietnam’s property market is positive. Growth in the sector in the first quarter was 4.75 per cent, and it attracted 51 new FDI projects in the first five months with total capital of $1.37 billion. During the first quarter, the number of new enterprises in the real estate sector totaled 1,548, up 26.3 per cent year-on-year and accounting for 5.4 per cent of all newly-registered enterprises.

   Digital and technological innovation have had a significant positive impact on the property business in recent times. Technology has changed the way people live and work, creating new opportunities for businesses and driving economic growth. Twelve disruptive technologies are believed to bring significant economic impacts by 2025, with mobile internet to facilitate the greatest disruption by allowing for service delivery improvements, productivity increases, and better time efficiency, which ultimately create the value of convenience. In the property sector, any technology utilized for real estate is called proptech, or property technology.

   Despite more regulations over the rental housing market, most real estate practitioners view proptech as an opportunity for the property industry. They also agree that, in order to adapt to the changing global environment, traditional real estate organizations need to engage with proptech companies.

   In our Cover Story this month we sought the opinions of local and foreign industry players on Vietnam’s property market, especially in the context of the sector moving along with the development of digital and technology. We report on how companies, including proptech companies, management agencies, and developers, are constantly improving their technology.

   We at VET will also celebrate Vietnamese Journalists Day on June 21. I would like to thank our Editorial Board, reporters, and contributors for all their hard work. I also thank you, dear readers, for your interest in our magazine and I encourage you to continue to send us your invaluable feedback and ideas for further improvements.