Ho Chi Minh City’s office market is poised to witness a record 29% vacancy rate in Grade A offices by the end of 2023 due to higher supply and lower demand.
Apartment prices have fallen precipitously due to record low levels of liquidity in the primary market, but they have risen in the secondary market.
Matthew Bouw, Chief Executive of the Asia Pacific region, Cushman & Wakefield said Vietnam has become an ideal destination for institutional real estate investors.
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The demand for industrial real estate has begun to pick up steam in recent months as foreign manufacturers are expanding their presence in Vietnam.
The Vietnam Association of Realtors (VARs) expects billions of VND in savings from SBV rate reduction to enter the property market.
Vietnam’s real estate market needs to focus on developing properties that create "real values" such as industrial and commercial real estate, affordable housing, and social housing.
HCMC housing is among the least affordable in the Asia Pacific region with a median home price representing 32.5 times the median annual household income, said a report by Urban Land Institute.
Although the property sector has suffered a fall in FDI attraction, experts are still optimistic about its prospects of the sector, especially the industrial segment which is described as a bright spot.
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