More than 300 real estate brokerage exchanges, or one third of these firms in Vietnam, have closed recently due to low supply and the impact of the COVID-19 pandemic.
Detailed regulations are needed to promote a healthy condotel market, which has been going off-track for years due to an unclear legal framework, experts have said.
The Vietnamese resort realty market will continue to retain its appeal to both domestic and foreign investors thanks to its good return of investment as well as the tourism boom in the country, according to the Vietnam Association of Realtors.
An insider has predicted a good outlook for the property market in the medium and long terms despite signs of decline in recent months.
Authorities are planning to continue tightening credit for real estate in the time ahead, which is hoped to have positive impacts on the market, heard a forum in Hanoi on May 4.
The resort property sector, especially condotels (condominiums in hotels), have stalled in both supply and transactions, according to the Vietnam Association of Realtors (VARS).
Vietnam’s real estate market in the final quarter of 2018 is likely to see the strongest growth of the year in housing transactions, even higher than that of the same period last year, according to Nguyen Van Dinh, Vice President of the Vietnam Association of Realtors (VARs).