Property

Urban resort real estate became more popular in the first seven months of 2021 as other real estate segments lost some of their appeal during the pandemic. Dr. Tran Nguyen Minh Hai, a real estate specialist from the Banking University, pointed out that there are three reasons the sector will still boast potential over the next five years. The pandemic has resulted in rising demand for healthcare resorts, customers have lost interest in traditional forms of tourism during the pandemic, and the recent falls in the stock market have made investors view resort real estate as a safer investment channel.

Apartment prices in Hanoi are predicted to increase in the time to come due to a range of factors, such as land prices remaining high after a bout of “land fever”, land price brackets being increased by 15 per cent, construction materials and construction investment costs both rising by about 50 per cent, and project approval procedures taking longer due to legal obstacles, leading to higher costs and greater opportunity cost. Primary sales prices for apartments over the next two years may increase 4-6 per cent.