Vietnam’s property sector remains vulnerable to money laundering with the risks high in the sector, according to the latest report by the State Bank of Vietnam (SBV).

Companies issued 161.5 trillion VND (6.43 billion USD) worth of bonds during January-July, or 2.6 folds higher than the same time last year, the Ministry of Finance (MoF) said on August 5.

Credit ratings agency Fitch Ratings on November 9 forecast Vietnam’s GDP growth to accelerate to 6.3% in 2024 and 7.0% in 2025.

Malaysia’s property sector will continue to face many challenges in 2023, due to a clear oversupply of properties in certain sectors and locations in the country, said insiders.

While 2020 is believed to have changed the real estate industry, trends in the sector this year are forecast to sustain or be aligned with demand in the market.

Many people with money and without investing knowledge have chosen property as a safe haven, helping estate prices still increase despite the pandemic, experts have said.

Ho Chi Minh City lured 3.25 billion USD in foreign direct investment (FDI) in the first nine months of 2020, down 28 percent over the same period last year, reported the city Department of Planning and Investment.

The new launch of condominiums in the second quarter of this year (Q2) nearly tripled that of the previous quarter, showing recovery of sales activities, according to CBRE Vietnam's quarterly report on the Hanoi market released at a recent online press conference.

After a brief hiatus, property companies have been resuming sales of developments and revealing their post-COVID-19 business plans since the beginning of May.

Property consultants Savills Vietnam have adopted a positive outlook on real estate investment in Vietnam amid the COVID-19 pandemic, saying that when it eases there will be increasing numbers of investors injecting new capital into the sector.

The property sector will continue to be a fertile ground for foreign investors, largely due to the country’s rising demands for housing as well as deeper global integration with a line-up of bilateral and multi-lateral new-generation trade pacts.

Economists have given bright outlook to Vietnamese economy, with the State Bank of Vietnam (SBV)’s credit growth target of 14 percent achievable.

Overseas remittances will continue adding a vital impetus to the economy, including the property sector in 2018, according to Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association.

The real estate market is recovering strongly and attracting huge sums of money from banks, foreign investors and overseas Vietnamese.

The real estate market is busy with mergers and acquisitions (M&A), which are forecast to touch a record high this year, driven by the sector’s steady recovery.

According to the State Bank of Vietnam, in the first eight months of the year banking credit grew at 10.23 percent compared to 4.33 percent a year earlier.

Investment inflows into the property sector has surged, especially credit from banks, said Nguyen Tran Nam, former Deputy Minister of Construction and Chairman of the Vietnam Real Estate Association.