The government considers the property market an important pillar of the economy and measures are underway to address the sector's difficulties in recent years.
As of the end of September 2023, the 30 biggest real estate companies in Vietnam had just over VND15 trillion in cash on hand, which was the lowest amount in five years.
Due to the big difference between supply and demand, resort real estate has to change before it can start to recover.
Dong Khoi Street in Ho Chi Minh City has increased by 1 place to become the 13th most expensive place to rent in the world.
- Vietnam's real estate companies' funds drop to their five-year low 1
- Resort real estate: Overcoming hot fever, treating cold fever 2
- Dong Khoi Street (HCMC) is the 13th-most expensive place to rent in the world 3
- Real estate developers increase sales on lower interest rates 4
- Novaland to settle bond debt using luxury property assets 5
- Real estate firms offer higher salaries to attract quality brokers 6
Low home loan interest rates, combined with many preferential sales policies, help improve market liquidity.
Industrial real estate will continue to be a bright spot for the Vietnamese economy next year, with stable and high occupancy rates and rental prices.
Novaland, the second largest property firm in Vietnam, has proposed utilising properties from a luxury development in downtown HCM City to pay off the principal and interest on three bond lots.
The South Vietnam is a magnet for rubber, plastics, food, beverage, construction materials and garment businesses.
Real estate firms are offering higher salaries and brokerage fees to attract quality brokers in a market where homebuyers have become more cautious and demanding.
Kusto Home's Reflection West Lake project received two honors at the 9th annual PropertyGuru Vietnam Property Awards, held on November 10 in Ho Chi Minh City.
SBV and representatives from some ministries, credit institutions and businesses will meet online on November 13 to look into the implementation of the Prime Minister’s dispatch on the real estate market.
Many real estate developers are racing against time to put their housing units up for sale and introduce projects for the rest of the year after a property slowdown lasting for months.
Stronger promotion policies are causing capital to flow into real estate, which will help the trickle-down scenario.
The State Bank of Vietnam (SBV) will step up the information work to further popularise the social housing loan package among the public given its sluggish disbursement.
In the first 8 months of 2023, the average room capacity of the Vietnamese market only reached 40%, nearly 20% lower than the pre-pandemic level.
To create a driving force for recovery, it requires clearing the flow of money into the real estate market.