Real estate transactions skyrocket in 9 months
Some 30,000 real estate transactions were recorded in the first nine months of 2015, which was tantamount to the combined figures from last year, as heard at a seminar on housing development in the Mekong Delta city of Can Tho on October 7.
According to Chairman of the Vietnam Real Estate Association Nguyen Tran Nam, heat in the real estate market has skyrocketed and the number of real estate transactions this year is expected to double 2014’s.
Vietnam’s real estate market has seen positive signs in both social housing and low-income apartment segments, ranging from VND500 million to VND600 million (US$22,700-US$27,000) per apartment.
Several newly introduced Government policies and regulations coupled with high confidence in the sector’s outlook have convinced investors and customers to return to the market.
Particularly, the Government’s VND30 trillion (US$1.4 billion) stimulation package demonstrated its efficiency; VND20 trillion (US$909 million) of which was signed with banks and VND12 trillion (US$546 million) was disbursed.
Nam asserted there is an upward trend in Vietnam’s real estate market as many capital inflows have entered the market. To date, about VND360 trillion (US$16.4 billion) has been invested in the market, accounting for 12% of the bank’s total debt system. Meanwhile, around US$3 billion in foreign remittances were also recorded.
Vietnam’s real estate market has seen positive signs in both social housing and low-income apartment segments, ranging from VND500 million to VND600 million (US$22,700-US$27,000) per apartment.
Several newly introduced Government policies and regulations coupled with high confidence in the sector’s outlook have convinced investors and customers to return to the market.
Particularly, the Government’s VND30 trillion (US$1.4 billion) stimulation package demonstrated its efficiency; VND20 trillion (US$909 million) of which was signed with banks and VND12 trillion (US$546 million) was disbursed.
Nam asserted there is an upward trend in Vietnam’s real estate market as many capital inflows have entered the market. To date, about VND360 trillion (US$16.4 billion) has been invested in the market, accounting for 12% of the bank’s total debt system. Meanwhile, around US$3 billion in foreign remittances were also recorded.