At a conference on Friday, Mister Nguyen Manh Ha, the association’s deputy president, said the realty market would be bolstered by the stable macro-economic situation, rising number of tourist arrivals to Vietnam and foreign direct investment into the property sector.
The property market in quarter 2 of 2017
The statistics show that Vietnam had received more than 3.2 million foreign tourists in the first quarter of this year, up by 29 per cent over the same period last year. FDI inflow jumped by more than 91 per cent to a total of $334 million in the January-March period. He said the slowdown in transactions in Quarter 1 was because of the nation’s biggest holiday, which fell in late January.
However, the market started to get busier from March with more transactions and property developers gearing up for sale launches in the coming quarters. The property projects in District 2 (such as Masteri Thao Dien, Lexington, Imperia, etc.) will be benefited from infrastructure development, such as those along rapid bus BRT and Metro Lines, which had good liquidity. Several developers were expected to develop and release a huge supply of affordable homes, which would contribute to improving transactions and market liquidity, according to the Vietnam Association of Property Brokers.
Regarding tourism property, the association anticipated strong development, driven by the dynamism of foreign developers as well as the rising middle-income class in the country. The property sector ranked the sixth most discussed topic on social networks in the first quarter of this year, based on a survey by SocialBeat, according to the association.
Apartments and resort property were the two most discussed segments, with 33 per cent and 24 per cent share, respectively. Affordable housing segment attracted significant market attention, especially information about the location of a project, planning, facilities and sale policies.
Source: VNS