After consecutive years of losses, several real estate firms in HoChi Minh City started to show more optimism in the market as the numberof transaction is picking up, the English language news websitedtinews.vn said in an article published on May 14.
SavillsVietnam reported that, in the first quarter of 2014, 1,600 apartmentswere sold, the highest number in the last three years. In addition,house prices in Ho Chi Minh City have dropped, but remain stable.
"Weare buying back a number of projects located in the city centre. Ourgoal is to sell 3,000 apartments and earn 6 trillion VND (28.5 millionUSD)," Phan Thanh Huy, head of Novaland Group, was quoted as saying.
ThuDuc Housing Development also sets a goal of 64.3 billion VND in profitsthis year, three times higher than last year. Le Chi Hieu, Chairman ofThu Duc Housing Development said the real estate market has shown signsof recovery and the company would focus exclusively on housing formiddle-class and low-income families.
Foreign investors have alsobeen upbeat, taking this time as a good opportunity for investment. KimKyoo Chul, member of the board of directors of the Republic of Korea'sNational Housing Organisation, announced that they would invest 1billion USD into 14 projects for low-income people in Vietnam.
"In 2015, we'll complete our 'First Home Project'. Each square metres will be sold at only 9 million VND," he said.
Accordingto Kim Kyoo Chul, foreign investors are very interested in theVietnamese housing market, but the number and quality of housingprojects was not in tune with demand.
He said "Vietnam has ayoung population and many still haven't had their own home yet. I thinkVietnam is an exciting potential market."
Several consultingfirms and analysts have commented that foreign investors are beginningto have more confidence in the Vietnamese housing market. Marc Townsend,Managing Director of CBRE in Vietnam, pointed out that in the firstfour months of 2014, four large-scale projects and over 3 billion USD inFDI have been registered.-VNA
SavillsVietnam reported that, in the first quarter of 2014, 1,600 apartmentswere sold, the highest number in the last three years. In addition,house prices in Ho Chi Minh City have dropped, but remain stable.
"Weare buying back a number of projects located in the city centre. Ourgoal is to sell 3,000 apartments and earn 6 trillion VND (28.5 millionUSD)," Phan Thanh Huy, head of Novaland Group, was quoted as saying.
ThuDuc Housing Development also sets a goal of 64.3 billion VND in profitsthis year, three times higher than last year. Le Chi Hieu, Chairman ofThu Duc Housing Development said the real estate market has shown signsof recovery and the company would focus exclusively on housing formiddle-class and low-income families.
Foreign investors have alsobeen upbeat, taking this time as a good opportunity for investment. KimKyoo Chul, member of the board of directors of the Republic of Korea'sNational Housing Organisation, announced that they would invest 1billion USD into 14 projects for low-income people in Vietnam.
"In 2015, we'll complete our 'First Home Project'. Each square metres will be sold at only 9 million VND," he said.
Accordingto Kim Kyoo Chul, foreign investors are very interested in theVietnamese housing market, but the number and quality of housingprojects was not in tune with demand.
He said "Vietnam has ayoung population and many still haven't had their own home yet. I thinkVietnam is an exciting potential market."
Several consultingfirms and analysts have commented that foreign investors are beginningto have more confidence in the Vietnamese housing market. Marc Townsend,Managing Director of CBRE in Vietnam, pointed out that in the firstfour months of 2014, four large-scale projects and over 3 billion USD inFDI have been registered.-VNA
