The number of newly-established enterprises in all 17 sectors in the economy grew in June for the first time since the beginning of the year, after tens of thousands of companies were forced to shut their doors because of COVID-19.
The Vietbuild International Exhibition with the theme Construction – Building materials – Real Estate – Interior and Exterior Decoration will be held in Ho Chi Minh City from June 24 to 28.
The Ministry of Construction has proposed short- and long-term measures to ease the difficulties facing the country’s real estate market, with social housing development to drive the market forward.
Vietnam is a potential and emerging market, with low risks, good economy and stable politics, Eto Shinji, General Manager of Japanese building product distributor JUTEC Corporation’s Overseas Business Department, has said.
Experts believe that the real estate market is unlikely to fall into a crisis and housing prices will be stable because market demand remains high while supply is limited.
Cutting costs and restructuring products are what many real estate firms are doing to deal with difficulties caused by COVID-19.
VOV.VN - Approximately 35,000 enterprises based in Vietnam have made the step of withdrawing from the market in the first quarter of the year, a 2% increase on-year, according to the latest report released by the Ministry of Planning and Investment.
HCM City plans to draw up specific policies for firms having capital of more than VND100 billion (US$4.3 million) in the first quarter of this year, and has committed to create more favourable conditions for enterprises.
Vietnam’s real estate market is currently one of the most attractive in Southeast Asia, with many opportunities for domestic real estate developers to find partners and investors in the form of mergers and acquisitions.
Investment in real estate sector through capital contribution would avoid risks that might cause to new comers who know little about the market and law.
The supply of homes plummeted on the local market in 2019, as inspections of construction, investments and land use at some property projects left a chilling effect on investors, said Nguyen Van Dinh, vice chairman of the Vietnam Association of Real Estate Brokers.
Proptech in Vietnam is developing and expanding on the back of strong momentum in the Vietnamese real estate market, due to its benefits in improving accuracy and speed, as well as cost savings and convenience.
Real estate remained the second biggest magnet for foreign direct investment (FDI) in 2019, following processing – manufacturing, as it attracted 3.88 billion USD of FDI, equivalent to 10.2 percent of the total registered.
Around 3,000 to 4,000 real estate agents in HCMC have quit their jobs between January and November as new housing supply dwindles.
Vietnam rolled out an affordable housing program, but when its billion dollar allocation ran out, many projects stalled.
Despite a small supply of new projects at rather high prices, both investors and experts are optimistic about the prospects of this market – with good reason.
Saigon land prices have increased 2.5-3 times every decade in the last 20 years, putting house ownership beyond most residents.
Real estate consultancy notes key factors for developers to consider for sustainable integrated developments.
Central Khanh Hoa Province has ordered a real estate developer to terminate 20 contracts selling apartments to foreigners, saying the sale was unauthorized.
Many foreigners are keen to buy high-end apartments in Vietnam but the process is anything but straightforward.