According to the Vietnam Association of Realtors, Vietnam’s economy was picking up in Q3 with a quarterly GDP growth rate of 5%. The optimistic outlook has fueled demand for housing across the spectrum.
The State Bank of Vietnam has given another push to the market by cutting policy rates four consecutive times since March. The drops in interest rates make home ownership increasingly affordable to a broader range of buyers, creating more demand for housing.
According to a recent survey by the Association, 60% of respondents said their customers would continue to invest in realty properties if interest rates keep falling, but with a risk-averse rather than a risk-taking stance.
In Q3, around 6,000 deals were reached across the country, one and a half times the number in Q2 and two times the level in Q1, indicating a fast recovery in the sector./.
