The real estate market has seen positive changes in the first 11 months of 2014, with the number of successful transactions increasing considerably, the Vietnam Economic News cited the Ministry of Construction as saying.
Deputy Minister of Construction Nguyen Tran Nam assessed that the real estate market has begun to recover. The number of transactions on the market increased continuously in 2013 and 2014. There were almost 1,000 successful real estate transactions in Hanoi in the first 11 months of 2014, a 200 percent increase on the number recorded in 2013, while 2013’s figure was 1.5 times higher than that in 2012. The number of successful real estate transactions in Ho Chi Minh City reached 8,850 units during in the first 11 months of this year, up 135 percent from 2013.
About 293 trillion VND in investment was poured into the real estate market in the first three quarters of 2014, up 12 percent from the same time in 2013, while the country’s credit growth was only six percent during the same period.
The deputy minister also attributed the real estate market’s recovery to the securities market’s improvement. Experts have predicted that the real estate market will finish 2014 in a better shape.
Tran Kim Chung from the Central Institute for Economic Management (CIEM) was quoted as saying that house prices remained stable and had stopped decreasing. Housing prices ropped by more than 30 percent in 2011-2013 but recently became stable and had stopped falling. Meanwhile, the projects with good locations, which have been completed or will be completed soon, increased by just 1-2 percent compared to 2013.
Dr. Hoang Kim Huyen from the National Financial Supervisory Commission said that investment in the real estate market has tended to increase again.
Dat Xanh Mien Bac Real Estate and Services Joint Stock Company (Dat Xanh Mien Bac) General Director Vu Cuong Quyet said that most of investors have offered products with reasonable prices so few projects were suffering losses.
CEN Group Deputy Chairman Pham Thanh Hung said that there will be no wave of projects experiencing losses as many believed.
Dat Xanh Mien Bac General Director Vu Cuong Quyet said that projects that are being completed have the potential to increase prices but investors who have entered the market for a short period of time will be careful in increasing prices as demand remains lower than supply on the real estate market. Therefore, real estate prices are expected to remain stable.-VNA
Deputy Minister of Construction Nguyen Tran Nam assessed that the real estate market has begun to recover. The number of transactions on the market increased continuously in 2013 and 2014. There were almost 1,000 successful real estate transactions in Hanoi in the first 11 months of 2014, a 200 percent increase on the number recorded in 2013, while 2013’s figure was 1.5 times higher than that in 2012. The number of successful real estate transactions in Ho Chi Minh City reached 8,850 units during in the first 11 months of this year, up 135 percent from 2013.
About 293 trillion VND in investment was poured into the real estate market in the first three quarters of 2014, up 12 percent from the same time in 2013, while the country’s credit growth was only six percent during the same period.
The deputy minister also attributed the real estate market’s recovery to the securities market’s improvement. Experts have predicted that the real estate market will finish 2014 in a better shape.
Tran Kim Chung from the Central Institute for Economic Management (CIEM) was quoted as saying that house prices remained stable and had stopped decreasing. Housing prices ropped by more than 30 percent in 2011-2013 but recently became stable and had stopped falling. Meanwhile, the projects with good locations, which have been completed or will be completed soon, increased by just 1-2 percent compared to 2013.
Dr. Hoang Kim Huyen from the National Financial Supervisory Commission said that investment in the real estate market has tended to increase again.
Dat Xanh Mien Bac Real Estate and Services Joint Stock Company (Dat Xanh Mien Bac) General Director Vu Cuong Quyet said that most of investors have offered products with reasonable prices so few projects were suffering losses.
CEN Group Deputy Chairman Pham Thanh Hung said that there will be no wave of projects experiencing losses as many believed.
Dat Xanh Mien Bac General Director Vu Cuong Quyet said that projects that are being completed have the potential to increase prices but investors who have entered the market for a short period of time will be careful in increasing prices as demand remains lower than supply on the real estate market. Therefore, real estate prices are expected to remain stable.-VNA
