Business

Real estate market thrives, entities ready to re-enter market

The real estate market has witnessed positive developments, with a slew of projects, including billion-dollar projects, being announced and called for investment in the first quarter of 2024.
Real estate market thrives, entities ready to re-enter market ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) - The real estate market has witnessedpositive developments, with a slew of projects, including billion-dollarprojects, being announced and called for investment in the first quarter of2024.

This information was revealed at a conference held on April 15 by the VietnamAssociation of Realtors (VARS) to announce a report on Vietnam's real estate market in the first quarter, and the forecast for the secondquarter.

According to Tran Van Binh, Vice Chairman and General Secretary ofVARS, the Vietnamese economy has shown signs of vitality in the last quarter,and likely to maintain a positive growth trajectory. The Government, ministriesand sectors have demonstrated high determination in promoting the real estatemarket, particularly in ensuring the safe and healthy development of the housing segment.

VARS's observations indicated that after a prolonged period ofcautious monitoring of market developments, customers andinvestors are beginning to clearly show their interest in real estate, Binhsaid.

According to VARS's survey, up to 70% of customers and investorsare willing to purchase real estate in 2024 if they find suitable products. Landplots and low-rise properties are the two segments receiving the mostattention.

In the first quarter of 2024, a total of 20,541 products weresupplied, including 4,300 new products. Notably, a series of billion-dollarreal estate projects have simultaneously been commenced, ready to supply abundant sources to the market.

Le Dinh Chung, CEO of SGO Homes, remarked on the supplystructure, saying that 1,250 affordable housing units were offered for sale inthe first quarter, a growth rate of over 70% compared to the fourth quarter of 2023. Notably,100% of the supply source came from social housing projects in many localities.

Furthermore, the absorption rate of projects continued toimprove, reaching nearly 31%, up 5% compared to the fourth quarter of 2023, and19% higher than the same period last year.
|
According to Pham Thi Mien, Deputy Head of Market Research and Investment Promotion at VARS, the proportion oftransactions in the affordable apartment segment is trending downward due to abeginning scarcity in the supply. However, the proportion of transactions inthe low-rise segment and land plots has improved compared to the previous period.

Currently, primary selling prices continue to maintain a stabletrend, with an increase of about 2-3% compared to the previous quarter. Newlow-rise projects and land plots are priced quite reasonably.

Nguyen Van Dinh, Vice Chairman of the Vietnam Real EstateAssociation and Chairman of VARS, emphasised that the real estate marketcurrently possesses sufficient elements ready to serve as a springboard for therecovery process./.
VNA
#real estate market #positive developments #Vietnam Association of Realtors #positive growth trajectory #housing segment #real estate projects #recovery #Vietnamplus #Vietnam news #Vietnam News Agency
Follow VietnamPlus

Related News

Management of real estate brokers to be tightened

Management of real estate brokers to be tightened

Only 40,000 out of about 100,000 individual brokers in the domestic real estate market have brokerage practising certificates, according to the Vietnam Association of Real Estate Brokers (VARS).
Revised land law to make real estate market more bustling

Revised land law to make real estate market more bustling

The Land Law (revised) passed in January by the National Assembly (NA) is a huge step forward that demonstrates the attention of the Party, the State, the Government, and the NA in protecting the rights of overseas Vietnamese (OVs) and Vietnamese citizens residing abroad, according to Dr. Phan Bich Thien, member of the Central Committee of the Vietnam Fatherland Front and Chairwoman of the Vietnamese Women's Association in Hungary.

See more

The Vietnam–Cambodia business connectivity conference held in Ho Chi Minh City on July 15 aims at boosting trade and investment between the two economies. (Photo: VNA)

Conference seeks ways to promote Vietnam – Cambodia trade

The value of trade between Vietnam and Cambodia reached 6.2 billion USD in the first six months of 2025, a year-on-year increase of 16.8%. Vietnam's exports to Cambodia totaled 2.7 billion USD, up 4.6% from the same period last year.

A Korea-invested company in Hue city, Vietnam (Photo: VNA)

Foreign investors show strong confidence in Vietnam’s long-term investment potential

While concerns over tariffs are real and may lead some foreign investors to take a more cautious approach in disbursing capital, especially for large-scale and long-term projects, Vietnam still holds significant advantages in attracting FDI thanks to a favourable business environment and, most importantly, the Government’s strong commitment to supporting investors.

Deputy Minister Nguyen Hoang Long, Minister of State Douglas Alexander, and representatives from ministries and the embassies of both countries pose for a group photo at the 14th JETCO meeting. (Photo: VNA)

Vietnam, UK boost economic, trade ties

Over the past decade, trade and investment relations between Vietnam and the UK have made remarkable strides. On trade, the two countries have implemented the UKVFTA for more than four years, and most recently, the UK’s accession as the 12th member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has further strengthened bilateral cooperation.

Workers assemble parts on an automotive production line in HCM City. The city’s industrial sector is showing strong signs of recovery. (Photo: moit.gov.vn)

HCM City sees strong recovery in industrial production

HCM City's 23 industries – including printing and media reproduction, furniture manufacturing, non-metallic mineral products, motor vehicles, electrical equipment, clothing and electronic and optical products – reported higher output in the first half of 2025.

Workers pack cashew nuts at Duc Thinh production and trading co., ltd., former Binh Phuoc province (Photo: VNA)

Vietnam targets 4.5 billion USD in cashew exports for 2025

Figures from the first six months show cashew exports reached 346,800 tonnes, earning 2.36 billion USD, a drop of 2.7% in volume but a surge of 20.4% in value annually. The rise was largely attributed to a significant increase in export prices, which helped offset lower shipment volumes.

The Hai Phong City Convention and Performance Centre is one of the venues for ABAC III. (Photo: VNA)

Hai Phong expects strong wave of investment from APEC member economies

Hai Phong will present investment registration certificates for 32 projects and sign seven Memoranda of Understanding, with total committed capital exceeding 15.6 billion USD. These projects include investments from Europe and the US, reflecting the growing interest of global investors in the city's business environment and development potential.

The ongoing administrative reforms are expected to expand the real estate sector's appeal to investors. (Photo: VNA)

Institutional reforms open new investment frontier for realty sector

Assessing the impact of the new model, Director at Savills Vietnam’s Advisory Services Do Thi Thu Giang said that the deeper decentralisation of authority to local administrations will help reduce processing time for construction permits and project approvals, thereby reducing opportunity costs and increasing investment efficiency.

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva and representatives of St. Gallen Endowment. (Photo: VNA)

Vietnam boosts cooperation with St. Gallen Endowment of Switzerland

Minister Counsellor Pham Quang Huy, deputy head of Vietnam's Permanent Mission to Geneva, has recently held a working session with representatives of the St. Gallen Endowment to boost cooperation between Vietnam and the Swiss fund, as part of his attendance at a seminar in Geneva on risk levels and countries’ trade responses to rising tariffs.