Though the COVID-19 pandemic may linger into the end of 2020, the property market will bounce back soon and develop strongly in 2021 and 2022 thanks to the Government’s resolve and timely action, according to Savills Vietnam Managing Director Neil MacGregor.
Foreign investment in Ho Chi Minh City has totalled US$2.37 billion this year, including new and additional capital and share purchases, down 32.9% year-on-year.
The domestic real estate market is hoped to have growth in the fourth quarter of this year and before the Lunar New Year 2021 if, by this year-end, the domestic economy is restored to levels from before the COVID-19 pandemic, according to insiders.
Experts have forecast a tough time ahead for the domestic retail, with many store owners struggling to pay rent after being hit hard by the COVID-19 pandemic.
M&A in hotels and resorts is expected to thrive as the social distancing orders have left devastating affects on low-end hotels and budget accommodations.
While most stores have reopened after the health crisis, some of them have gone out of business while others had to downsize their chains.
Resort real estate is one of the segments expected to see the fastest pace of recovery in the post-pandemic times.
VOV.VN - Despite unpredictable developments relating to the novel coronavirus (COVID-19) epidemic, the domestic real estate market is anticipated to attract a fresh wave of foreign investment due to its high-growth potential, reasonable prices, and relative safety as an investment destination, according to insiders.
VOV.VN - No matter what recovery scenarios occur as the nation begins to emerge from the effects of the novel coronavirus (COVID-19), this year’s hotel market is expected to witness a sharp decline in terms of room capacity and will only get back to normal levels in 2021.
The slowdown in 2019 and the arrival of the COVID-19 pandemic in the opening months of 2020 saw Vietnam’s property market hit “double trouble”, but experts have said the possibility of a quick recovery remains, especially as the outbreak has been largely brought under control in the country.
Hit hardest by the COVID-19 pandemic, Vietnam’s tourism sector is likely to be one of the first to recover strongly after the pandemic is brought under control, according to an expert from Savills Vietnam.
Property consultants Savills Vietnam have adopted a positive outlook on real estate investment in Vietnam amid the COVID-19 pandemic, saying that when it eases there will be increasing numbers of investors injecting new capital into the sector.
With the steady growth of business travel and changing accommodation trends, serviced apartments are becoming an appealing alternative to other forms of property investment.
The EU-Vietnam Free Trade Agreement and Investment Protection Agreement raise many hopes for all of Vietnam’s economic sectors. John Campbell, manager of Industrial Services from Savills Vietnam, assesses the impacts of these new agreements on the Vietnamese industrial sector.
The local retail property market has reached the saturation point many years ago and now empty storefronts and shopping centres are putting a dent in real estate consultants' forecasts.
In the long run, with Vietnam successfully controlling diseases, the tourism industry will greatly benefit as the country will be seen as a friendly and safe destination.
More and more domestic real estate firms have begun to seek investment opportunities in global markets, according to Savills Vietnam.
The real estate market of Hanoi saw high demand for Grade A apartments for rent and sale in the third quarter, according to Savills Vietnam’s quarterly report on Hanoi's property market.
The serviced apartment segment in Hanoi witnessed solid performance by Grade A and branded operators in the third quarter of 2019, according to Savills Vietnam.
Vietnam's real estate market continues to attract foreign investors because of its growth potential, especially investors from the Republic of Korea, according to real estate consulting companies.