Vietnamplus

Vietnam has missed some economic development opportunities and should not ignore the chance to grow the night-time economy, according to economist Tran Dinh Thien.

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 severe economic blows from COVID-19 have forced scores of businesses to suspend operations and even file for bankruptcy, with real estate companies among the hardest hit.

The property market have experienced instable developments due to impacts of the COVID-19 pandemic, while halted projects and overlapping regulations have also hindered the expansion of supply sources.

Real estate brokerage activities should be professionalised and often individual sellers need better training, especially when the market is in need of momentum after the COVID-19 pandemic, experts said.

Breathtaking nature, beautiful long beaches and favourable climate in future special economic zones Da Nang, Van Don and Phu Quoc are setting the scene for leisure real estate sector to grow and lure more local and foreign investors to these areas.

The transaction volume on the domestic real estate market dropped to a four-year low for Q1 due to the impacts of the COVID-19 pandemic, and many real estate trading floors have temporarily closed, according to the Vietnam National Real Estate Association (VNREA).

More than 300 real estate brokerage exchanges, or one third of these firms in Vietnam, have closed recently due to low supply and the impact of the COVID-19 epidemic.

The Vietnamese resort realty market will continue to retain its appeal to both domestic and foreign investors thanks to its good return of investment as well as the tourism boom in the country, according to the Vietnam Association of Realtors.

The property market in the northern province of Bac Ninh is likely to continue to be in full swing in 2020 thanks to waves of investment into industrial real estate.

The northern coastal province of Quang Ninh has welcomed a number of major investors, both domestic and overseas, who came to explore investment and partnership opportunities since the beginning of this year.

The Ministry of Construction has recently requested the Departments of Construction in cities and provinces to urge enterprises in the real estate sector to report suspicious transactions and cash transactions worth 300 million VND (13,000 USD) and above.

An insider has predicted a good outlook for the property market in the medium and long terms despite signs of decline in recent months.

Authorities are planning to continue tightening credit for real estate in the time ahead, which is hoped to have positive impacts on the market, heard a forum in Hanoi on May 4.

The domestic property market showed stable development in the first quarter of this year with the emergence of potential new property trading regions.

The emerging mass tourism in coastal provinces in recent years has destroyed natural beauty spots at a furious pace. And in the next five years, Vietnam may lose all tourism resources.

The real estate week Red Friday was officially launched in Hanoi on December 6, with many special promotion programmes on offer.

The real estate week Red Friday with special promotion programmes will be held in Vietnam for the first time, from December 7-14, the Vietnam Association of Realtors (VARS) announced on November 14.

The northern coastal province of Quang Ninh has caught the attention of many foreign investors after they made a field trip to the province in the framework of the recent International Real Estate Conference (IREC) 2018 held in Hanoi.

The resort property sector, especially condotels (condominiums in hotels), have stalled in both supply and transactions, according to the Vietnam Association of Realtors (VARS).