Investors look at a property project. Prices in this market have levelled off after a period of high prices but not reduced. (Photo: batdongsan.com.vn) Hanoi (VNS/VNA) — Experienced investors continue to pourmoney into the real estate market despite the problems the COVID-19pandemic has caused for the sector.
Most property experts said the real estate market would be able to recoverafter the pandemic, adding investors do not want to invest in the realestate market amid difficulties but have faith it will rebound at a certainpoint.
Experienced investors would see the business opportunity in the difficultperiod while small investors would wait for market recovery, they said.
Ha Van Thien, deputy general director of real estate firm Tran AnhGroup, said in the previous real estate market crisis, investors thatresearched carefully found opportunities with reputable property developers.
Pham Thanh Hung, vice chairman of Cen Group, also said like many other economicsectors, the real estate sector was affected by the pandemic, so prices inthis market have levelled off after a period of high prices but not reduced.
The real estate market is entering a new period only for medium and longterm investors. Some projects in regions with infrastructure projects, in urbanareas with full facilities and in industrial zones have growth potential,according to Hung.
Also assessing real estate prices will increase sharply in the medium and longterm, Duong Duc Hien, former Director of Sales Department of Savills Vietnam,said in the past 40 years, real estate prices on the domestic market had notonce decreased.
Although the market had fluctuated depending on each period, in the longterm, real estate prices would always go up because the population would alwaysbe increasing while land would not expand. "People always need housingproducts and in addition, costs related to land are on the rise," hesaid.
According to the experts, the difficulties in the property market this yearwill contribute to market purification for sustainable development in thefuture. At present, the market opens up business opportunities for propertyinvestors and buyers that have real demand. The market's challenge is temporaryin the short term, while opportunities on this market are in the long term./.
VNA
