Want to be in the loop?
subscribe to
our notification
Business News
PROPERTY SECTOR POISED FOR STRONG RECOVERY IN 2022
The strict lockdown situation has taken the wind out of the sails of the property market in the south but experts predict this sector will rebound swiftly in 2022.
In the third quarter of 2021, the Ho Chi Minh City condo market witnessed a sharp drop in both new launches (down 70.0 per cent on-year) to 1,600 units and sales volume (down 68.4 per cent on-year) to 1,582 units, a five-year low.
The new supply of ready-built houses was heavily limited with only 10 units, down 99.2 per cent on-year.
VNDIRECT estimated that secondary prices in 12 out of 22 districts in the city fell by 0.5-9.2 per cent on-quarter but still increased on a yearly basis. Meanwhile, the average condo primary price climbed 17.0 per cent on-year to $2,271 per square metre.
Unlike in Ho Chi Minh City, in Q3/2021, new condo supply in Hanoi stayed relatively flat, with a decrease of 0.6 per cent on-year, to 3,483 units.
However, sales volume plunged 33.4 per cent on-year due tolow take-up rate and disrupted sales activities.
The Q3/2021 new ready-built housesupply was flourishing, with an increase of 877.8 per cent on-year (around 440 units) in new launches and an increase of 206 per cent on-year (410 units) in sales volumes.
Just as with Ho Chi Minh City, VNDIRECT predicts discounts on secondary prices on a quarterly basis but an increase on a yearly basis. The average primary price of a condo rose 15.9 per cent on-year on average to $1,542 per sq.m.
In 2022, experts expect the residential market to recover, based on three factors: a broad-based recovery of macro fundamentals propelling the property market in 2021, housing purchasing decisions underpinned by affordable mortgage interest rates, and a surge in new supply thanks to the loosening of regulatory bottlenecks.
Hospitality property is expected to recover quickly in the future on the back of COVID-19 vaccination along with the recovery of tourism in Vietnam. The headwinds from the pandemic may be over in the hospitality property market from the end of 2021.
Source: VIR
Related News
HOT NEWS
TRAVEL UPDATE: CAMBODIA INTRODUCES TEMPORARY VISA-FREE ENTRY FOR PRC PASSPORT HOLDERS (INCLUDING HONG KONG AND MACAU)
According to the Ministry of Tourism of the Kingdom of Cambodia, holders of passports issued by the People's Republic of China (PRC), including Mainland China, Hong Kong, and Macau, will be eligible for temporary visa-free entry to Cambodia from 15 June to 15 October 2026. The temporary measure is expected to facilitate tourism, business travel, and people-to-people exchanges between Cambodia and Chinese-speaking markets, including Hong Kong and Macau.
MEMBER CORNER / PROMOTIONS
TEE OFF & STAY AT HOIANA SHORES GOLF CLUB
Unlock exclusive golf and stay privileges reserved for member cardholders. Experience award-winning links golf, premium hospitality, and coastal relaxation with specially curated rates available for a limited time. Booking Period: 15 June – 30 September 2026. All supporting documents and payment details will be provided upon booking confirmation.
PROPERTY / INDUSTRIAL ZONE
HCMC TARGETS 181,000 NEW SOCIAL HOUSING UNITS BY 2030
HCMC plans to build more than 181,000 social housing units between 2026 and 2030, after completing nearly 17,900 units over the past five years, city officials said. Le Duc Anh, deputy head of the Housing and Real Estate Market Management Division under the city’s Department of Construction, said at a socio-economic press briefing in HCMC on June 4 that the city was stepping up efforts to expand social housing supply.
VIETNAM ECONOMY INVESTMENT
VIETNAM TARGETS 5,000 NEW AGRICULTURAL BUSINESSES BY 2031
Vietnam aims to support the establishment of at least 5,000 agricultural enterprises during the 2026-2031 period as part of efforts to build a digital agriculture sector and more sustainable value chains. The target was announced at the ninth National Congress of the Vietnam Farmers’ Union, which opened in Hanoi on June 8.
BANKING / FINANCE / INSURANCE / TAX
OUTSTANDING GREEN LOANS REACH VND828 TRILLION IN 2017-2025
Outstanding green loans in Vietnam have reached VND828 trillion, with 82 credit institutions now extending financing to environmentally sustainable projects. Growing at an average annual rate of more than 20% between 2017 and 2025, green credit has emerged as a key driver for mobilizing and allocating resources to support the country’s green transition and sustainable economic development.
BANKING / FINANCE / INSURANCE / TAX
AROUND VND33.6 TRILLION RAISED FROM G-BONDS IN MAY
The State Treasury raised VND33.63 trillion from Government bond (G-bond) auctions in May, completing 72% of its second quarter issuance plan and nearly one-third of its annual target. According to data released by the Hanoi Stock Exchange (HNX) on June 4, the exchange organized a total of 17 G-bond auctions on behalf of the State Treasury during May.
Events Sponsors
