Conference discusses Vietnam real estate market trend

The Vietnamese real estate market continues to be stable with supply on the rise compared to 2017 (Photo: VNA)

Participants focused on analysing, predicting, and coming up with solutions to help develop the real estate market in a balanced, stable, and sustainable manner; as well as help investors and the public better understand the upcoming market trends of 2019.

Nguyen Manh Ha – Vice Chairman of the Vietnam Real Estate Association (VNREA), the event’s organiser – said that statistics from the association shows that the Vietnamese real estate market continues to be stable with supply on the rise compared to 2017.

Beside Hanoi and Ho Chi Minh City, other localities such as Dong Nai, Binh Duong, Bac Ninh, Bac Giang, and Phu Tho have also recorded positive signals in their property markets.

Ha said large projects like miniature cities with full services and synchronous infrastructure, such as those invested by Vingroup, are a prominent trend in the market, which is said to contribute to orienting the future of the sector.

Due to the abundant supply, sudden rises in real estate price are not likely in 2019, Ha stressed, adding that the market will continue to maintain stability throughout the year.

Sharing Ha’s opinion, Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, said that projects invested in by Vingroup are good options in the lower-end housing segment.

Currently, the price of Vingroup’s housing products is not low, but buyers are offered options to pay over a longer duration, Vo said.

A brighter point in the real estate market is the industrial real estate segment, which is considered a new wave in Vietnam.

There is huge potential to development the segment as Vietnam becomes an attractive destination to foreign investors, especially those operating in industrial production.

The development of industrial zones must be synchronised to attract foreigners, participants said.

Regarding capital sources for the real estate market, Can Van Luc from the Bank for Investment and Development of Vietnam (BIDV) said that some companies have taken initiative in issuing bonds so they do not depend on the banking system, adding that this is a positive signal.