Property

The prices of houses and certain types of real estate in most localities are on an upwards trajectory. Projects with central locations in major cities have very high prices, at up to VND650-800 million ($28,550-$35,145) per sq m. Despite the prices, however, transaction numbers continue to increase.

VnDirect has identified four factors that will drive demand in Vietnam’s residential real estate market in the second half of 2021 and into 2022.

If Vietnam can control Covid-19 this month, the country’s real estate market will improve to the end of the year and there may be a new wave of investment, as existing investors are waiting to launch products.

With Covid-19 stalling real estate transactions, buying and selling have shifted from offline to online and property technology (proptech) has become a major trend and increasingly popular.

According to a recent survey by Colliers Vietnam, the country’s high-end real estate segment is being received very well with more than 80 per cent of products sold this year.

Vietnam is among the top 10 fastest-growing luxury real estate markets in the world, with supply increasing 11 per cent each year on average.