"Thin ice starts to melt" in Vietnam's real estate market
The real estate sector needs more time to absorb beneficial measures to reduce the two largest obstacles, legal and capital.
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The global economic slowdown, the impact COVID-19 pandemic, and internal difficulties have put Vietnam’s real estate market in a tough situation.
Ho Chi Minh City has seen a 16% increase in leasable floor space in the serviced office and coworking sector this year but a commensurate fall in overall occupancy and asking rents.
After going through tough times, Vietnam's real estate market has been showing signs of growth since the second quarter of 2023, when property prices and demand both went up.
The real estate sector needs more time to absorb beneficial measures to reduce the two largest obstacles, legal and capital.
The establishment of a land use rights trading floor will help this market operate in an open, transparent, healthy and sustainable manner, said experts.
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