31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Apr 28, 2021 / 18:20

Vietnam property enterprises expect positive outlook in next 12 months

The real estate market is set to recover and grow, even boom in certain segments and areas, according to a latest report.

Nearly half of property enterprises forecast their business results will be better in the next 12 months, according to the latest survey conducted by Vietnam Report, a Vietnamese consulting company.

A Sunshine City project in the Nam Thang Long urban area. Photo: Sunshine Group

About 15.8% of surveyed enterprises said that there will be an explosion in certain segments and markets in certain regions in the next six months. Only 15% respondents felt their business results would be more difficult in the period. 

The real estate market will face some big challenges in 2021, including the unpredictable development of the Covid-19 pandemic, the lack of concrete policies on certain segments such as condotel, officetel, and shophouse, leading to different treatment among cities and provinces.

The survey also noted that the process of appraising, approving and licensing construction investment projects remains long and complicated.  

According to the survey, priorities for real estate companies continue to ensure the efficiency, quality and progress of existing projects as well as hiring and training human resources to meet market demand. 

Firms are expected to promote investment, technology application, branding, R&D, resource assessment, and corporate restructuring, according to the report.

 Source: Business growth forecast of Vietnam's property enterprises. Chart: Phi Nhat

In the new normal, all businesses agreed that they need to take the initiative to promptly prepare different scenarios to cope with uncertainties.

More than 72% of surveyed enterprises stressed the necessity to honor prestige and brand in doing business to overcome current difficulties. 

About 36.4% of enterprises participating in the survey call for the government to continue to expand and consider supporting policies for the business community. 

A majority in the survey believe that developing new markets and enhancing digital transformation in sales and management are the solutions to positively support them to sustain and thrive in the current context.