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.
Hanoi's real estate market is expected to continue having positive developments in the upcoming quarters.
Remittance volumes will be a new source of demand driving the property market, according to VARS.
Hanoi is unlikely to see any new three-star hotel projects in the next three years, as the market favors the upper end.
The Government, ministries, and businesses are urged to implement solutions to solve existing major issues hampering the development of the real estate market.
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.
Amid the difficulties in the property sector, financial and economic specialists suggest that stimulus package for the sector is unnecessary.
Much of the supply of apartments come from suburban areas, but sales remain slow because prices are comparatively high relative to incomes.
Owners of apartments to be renovated will be compensated with a property twice the size of their current home.