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Vietnam emerges as an important destination for real estate investors

A large number of economists said that the real estate market of Vietnam is attractive after bottoming out and showing signs of recovery, the Government news portal reported.



Dang Duc Thanh, Dean of the Vietnam Economists Club said that real estate prices in Vietnam fell by a half against 2007 and costs of numerous departments bottomed out.

In the period from third quarter of 2014 to early 2015, the domestic real estate market will be improved if the Government continues to support enterprises to handle high inventory levels and non-performing loans and raise liquidity for the real estate market.

According to Neil MacGregor, Managing Director of Savills Vietnam – a real estate developer, the domestic real estate market is in an attractive period.

Neil MacGregor said that Vietnam is standing at the bottom point of a real estate cycle when other Asian markets remain at the other side and are likely to be on the decline in the next few years. Hence, Vietnam serves as an important destination for investors in Southeast Asia.

He also revealed that customers of Savills Vietnam from Japan, Singapore, and the Republic of Korea are intending to join long-term and large-scale projects on housing development in Vietnam.

Phan Thanh Mai, Secretary General of the Vietnam Real Estate Association said eight commercial banks are working on a pilot programme to connect investors, bidders, material providers and banks to remove difficulties and handle high inventory levels in the real estate market. The move has defrosted the real estate market.

Source : VNA/MOC

Last modified on Friday, 13 June 2014 08:25