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 COVID-19 pandemic has worsened the shortage of cold storage space in Ho Chi Minh City and surrounding areas as goods pile up as a result of lack of demand.
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 new launch of condominiums in the second quarter of this year (Q2) nearly tripled that of the previous quarter, showing recovery of sales activities, according to CBRE Vietnam's quarterly report on the Hanoi market released at a recent online press conference.
Despite the impact of the COVID-19 pandemic, the retail market in Vietnam in the first quarter of this year still recorded positive results from e-commerce, online shopping and delivery services.
Despite the impact of the COVID-19 pandemic, the retail market in Việt Nam in the first quarter of this year still recorded positive results from e-commerce, online shopping and delivery services.
The development of e-commerce together with delays to import and export activities due to disrupted logistics services has accelerated demand for ready-built factories and warehouses during the COVID-19 outbreak in Vietnam.
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.
Though the COVID-19 pandemic has cast a shadow over the global economy, the HCM City office space market has not been badly affected this year, according to property consultancy companies.
Real estate business and housing construction in Ho Chi Minh City have been hit hard by the COVID-19 pandemic, with significant decreases recorded in supply and demand, according to market watchers.
The HCM City Real Estate Association (HoREA) has called on the Government to resolve problems related to legal and administrative procedures and access to funding and cut lending interest rates to revive the property market.
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