Promising second half 2024 outlook for Vietnamese real estate
Expectations are high following the approval by the National Assembly of the Real Estate Business Law, the Housing Law, and the Land Law, which will soon enter into force.
Expectations are high following the approval by the National Assembly of the Real Estate Business Law, the Housing Law, and the Land Law, which will soon enter into force.
Remittance volumes will be a new source of demand driving the property market, according to VARS.
The Government, ministries, and businesses are urged to implement solutions to solve existing major issues hampering the development of the real estate market.
Demand for retail space in alleyways is rising as small and medium-sized enterprises seek to cut costs, given that most of their revenues come from e-commerce platforms.
In 2024, the housing market shows more positive signs than in 2023, but there will be differences in the timing of the recovery across segments.
According to Savills, foreign investors are increasing their interest in retail and hotels and traditional segments such as residential and offices.
It is estimated that one-fifth of all expatriate Vietnamese want to buy homes in the country.
The real estate market is expected to gradually stabilize and shift towards positive changes, as 2024 could be the last year in the process of overcoming obstacles.
Local experts predicted the industrial segment would revitalize the real estate market in 2024.
A major supply-side stimulus and price reduction effort has been undertaken in the housing market.
AkzoNobel has not only strived to develop eco-friendly paint and coating solutions but also emphasized promoting sustainable development in Vietnam by collaborating with like-minded partners to honor innovative initiatives.
More than 400 domestic and international participants gathered at Vietnam's largest construction exhibition, which opened to create a connection amid the economic recovery.
Over the past five years, the real estate market in eastern Hanoi has experienced strong growth, attracting domestic and foreign investors.
As Hanoi focuses on developing new urban areas to accommodate a growing population, Dong Anh has become a target for significant investment in infrastructure and services.
Foreign investors are actively exploring investment opportunities in the local real estate market, presenting chances for domestic firms if they can leverage this potential.
The soon-to-be amended Law on Housing is intended to encourage foreign investment and create favorable conditions for foreigners living in Vietnam.
Hospitality properties have long been considered a lucrative and long-term profitable investment for real estate investors operating in Vietnam.