Ho Chi Minh City

HoREA predicts property market

In its report to the People’s Committee and related agencies, the Ho Chi Minh City Real Estate Association (HoRea) wrote that after five year period, the sector’s growth rate has nearly doubled.

HoREA predicts property market

For instance, from 2006-2010, the growth rate was 0.9 times. The next period from 2011-2015, it is 1.6 times. In 2016 and eight months of 2017, it has seen a halt, especially in the purchase of luxury apartments and resorts. The whole sector maintained stable development.
HoREA said that the realty sector experienced different growth, stability, fever, frozen condition, recovery and growth again. When realty sector is fever or frozen, it has influenced to the country’s economy and enterprises, banks, secondary investors, consumers and laborers were suffering.
HoREA predicted the period 2016-2020 that the sector will see a strong re-structure to resolve the supply-demand issue. Investors should build more medium and small condo to meet real demand of many people.
Moreover, the implementation of the National Assembly’s resolution to handle bad debts of VND300 trillion with 60-70 percent guaranteed by property is expected to eliminate the problem.

By VI QUAN - Translated by UYEN PHUONG

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