The domestic real estate market in the fourth quarter of this year is forecast to see the strongest increase in transactions in the year, higher than the transaction volume in the same period of 2017.
The Vietnamese real estate sector has been attracting a large proportion of international investment inflows over the past years and the country is expected to remain one of the world’s most attractive markets for foreign developers in the years to come.
Hanoi expects to attract more foreign buyers on its real estate market as a rising number of foreign experts and entrepreneurs are working in the capital city.
Under the chairmanship of the Vietnam National Real Estate Association (VnREA) and the United States National Association of Realtors (NAR), the International Real Estate Conference (IREC 2018) took place over five days from September 5 to 9, 2018, in Hanoi. This was the fourth conference held by NAR, the first in Vietnam.
The Vietnamese real estate market is entering the last quarter of 2018. Remarking on market performance from the beginning of the year, an official from the Ministry of Construction said that the market had relatively stable growth, abundant supply and more practical product valuation. Hence, the actual demand also picks up significantly. The Ministry said that a potential boom in land demand may be seen in areas with good cooperation, but the market will be generally stable.
Vietnam will become an attractive destination for real estate investment and business because of the high demand for housing, industrial park infrastructure, shopping malls, and tourism property.
The property market in Bien Hoa City in Dong Nai Province has been booming in the last few months. Prices of properties located near HCM City have increased by 10–20 per cent since Tet (Lunar New Year), while in the city centre they have increased by 10–25 per cent on average, though in some places they have gone up by 60 per cent.
The Ministry of Justice is carrying out the Prime Minister's Directive 01/CT-TTg on rectifying and strengthening land management and building land information system. To achieve this objective, the ministry has conducted a review for revision of legal regulations on land access. This matter has a great impact on business rights and business performance and land access is a problematic area and receives a lot of recommendations from investors.