At a press conference held on July 17 to review Hanoi’s real estate market in the first months of this year, CBRE said that the prospects for long- and medium-time development of the real estate market in Hanoi and other Vietnamese major cities are fairly good.

The land prices in Hanoi’s central area remain stable, while the prices in other areas have reduced since the first quarter of this year, according to the firm.
It noted that a temporary slowdown in real estate transactions has been seen in some areas due to the impacts of the slow global economic growth, inflation and high interest rates of bank loans.

A recent survey by CBRE showed that investment in apartment buildings in Hanoi’s central areas has declined slightly compared to the first quarter of this year, while investment projects in other areas also decreased.

Consequently, the total investment channeled to the real estate market in the 2^nd quarter reduced by 15 percent compared to the first quarter.

CBRE said that stricter credit controls have heavily impacted on domestic investors and those who need loans to buy houses.