Property prices are expected to increase by five to 10 percent in the year of 2016, especially hot projects that have good infrastructure and ensure construction progress.
Hanoi (VNA) - Property prices are expected to increase by five to 10ಞ percent in the year of 2016, especially hot projects that have good infrastructure❀ and ensure construction progress.
The Vietnam Real Estate Association (VNREA) forecast the estate market would continue to develop, with the middle-income housing segment to be the majority segment. The villa segment is expected to see positive changes in the market as most Vietnamese homebuyers prefer independent houses rather than apartments. The prices of offices for lease will also be four to nine percent higher than that of 2015.
However, VNREA said the property market this year would face the challenge of bad debts as most investors have to borrow loans with interest rates of more than 10 percent a year, while the market has not been provided support from the 30-trillion- VND (1.34 billion USD) stimulus package.
The number of transactions in the market in 2015 were double that of 2014. The estate inventory value fell to 50 trillion VND (2.22 billion USD), while property credit rose by 20 percent to touch more than 373 trillion VND (16.58 billion USD).-VNA
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.
The Vietnam Institute for Economic and Policy Research (VEPR) has said the central bank should adopt a more cautious monetary policy to avoid asset bubble risk in the future.
Vietnam's property market is on the path to recovery and promises to remain busy in the last few months of the year, the Viet Nam Real Estate Association said.
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According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
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The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
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Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
Illustrative image (Source: Internet)
