Business

Breath of fresh air blown into real estate market

Vietnam’s strong economic growth since 2015 has pushed the domestic property market into a thriving and stable development period, said President of the Vietnam National Real Estate Association (VNREA) Nguyen Tran Nam.
Breath of fresh air blown into real estate market ảnh 1The first Vietnam Real Estate Forum takes place in Hanoi on November 15. (Photo: VNA)

Hanoi (VNA) – Vietnam’s strong economic growth since 2015 has pushedthe domestic property market into a thriving and stable development period,said President of the Vietnam National Real Estate Association (VNREA) NguyenTran Nam.

Nam, who is former Deputy Minister of Construction, made the comment at the firstannual Vietnam Real Estate Forum jointly held by VNREA and financial-economicchannel VITV in Hanoi on November 15.

Upbeat signs have been seen in the market index, he said, stressing thatproperty inventories have fallen sharply due to growing housing demand while theflow of foreign direct and indirect investment into the sector has soared.

Besides making substantial contributions to the country’s sustainable economicand social security development, the property market’s recovery has provided animpetus for the financial-securities market and other related industrialsectors such as construction and building materials, Nam added.

At the forum, Minister of Construction Pham Hong Ha emphasised the importanceof the real estate market in the market-oriented economy, noting that hisministry is working with relevant ministries, sectors and localities to build aproject on evaluating the real estate market, forecasting mid-term trend andrecommending solutions and mechanisms to promote stable development of theproperty market.

The forum gave investors and real estate businesses a chance to exchangeopinions on market trends, thereby seeking market segments with high liquidityto invest in. Through discussions, they were expected to come up with proposalsand recommendations for State management agencies on problems that need to beaddressed.

Participantsat the event provided a panoramic view of the market in 2017 and forecasttrends in 2018 and the coming years.-VNA 
VNA
#economic growth #property market #Vietnam National Real Estate Association #Vietnam Real Estate Forum #2017 #property inventories #housing demand #real estate #Minister of Construction Pham Hong Ha #construction #Vietnam #Vietnam news #Vietnam real estate #Vietnamplus
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