Vietnam’s tourism is returning to the new normal and the resort real estate also begins getting back to the racetrack after a two-year hiatus caused by the COVID-19 pandemic, with numerous projects expected to be offered for sale in 2022.
After a long hiatus caused by the COVID-19 pandemic, Vietnam’s tourism is gradually reopening with the resumption of international flights, which is considered a positive factor helping recover the hotel market.
A hybrid working model comprising both remote and office-based work is a trend that many companies will embrace since working methods have changed globally after the pandemic broke out, including in Vietnam, experts have predicted.
Hanoi’s condominium supply volume and sales are expected to improve in 2021, with between 24,000 and 26,000 units to be put on the market, CBRE Vietnam said at a January 7 event to announced its Q4 2020 quarterly report.
The occupancy rate at operational industrial parks in the major industrial localities in the south averaged 84.5 percent during January-September, according to a report from CBRE Vietnam.
More and more realty firms are using digital platforms to sell their products, driven by the Government's encouragement to develop local digital technology firms amid the COVID-19 pandemic.
The Hanoi condominium market had lower new supply volume in the third quarter of this year (Q3 2020), while the sold units have exceeded new launches, according to CBRE Vietnam's report on the Hanoi property market in Q3 2020.
Though the second wave of COVID-19 dashed hopes for quick tourism recovery in 2020, real estate services firm CBRE Vietnam believed the industry’s long-term outlook remains positive.
The hotel market in Vietnam this year is expected to face a severe decline in room occupancy due to the COVID-19 pandemic and will not recover until next year, industry experts have said.
Experts and businesses in Ho Chi Minh City’s real estate sector have mapped out recovery scenarios after the COVID-19 pandemic passes, with the local property market having experienced a marked slowdown.
Experts believe that the real estate market is unlikely to fall into a crisis and housing prices will remain stable because market demand remained high while supply is limited.
After announcing plans to expand its presence in Singapore, co-working space provider WeWork set to open two new locations in Vietnam before the end of the year.
UK based Workthere, a website listing platform and brokerage services, has entered the Vietnamese market to help businesses find flexible, co-working and serviced office spaces in a country where co-working has expanded rapidly.
Vietnam's real estate market continues to attract foreign investors because of its growth potential, especially investors from the Republic of Korea, according to real estate consulting companies.
Western area was the major supplier of condominium projects in the capital city of Hanoi, accounting for 77 percent of the total new units in the second quarter, said CBRE Vietnam, a provider of commercial real estate services, at a meeting in Hanoi on October 9.
Local demand for real estate products with long-term ownership exceeds supply as most of Vietnamese people prefer this kind of deal, experts said during a recent conference.
The office market in Ho Chi Minh City continued stable growth in the first half of this year, with some increases in rental prices and areas, according to major property consultant firms.
The east of Hanoi leads the new supply of landed property, covering 80 percent of the total new launch in the first half of 2019, property consultancy CRBE Vietnam announced in an event to review the capital city’s real estate market from January to June and the future trends.
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