Vietnam Property Market Sees Sign of Recovery
Numbers of property-related transactions are increasing in Vietnam, with an increasing number of transactions recorded in big cities such as Ho Chi Minh City and Hanoi, real estate property brokers said.
Lam Van Chuc, director of the Phuc Duc Real Estate Company, said the number of people that bought properties in the last few weeks tripled as compared with the figures from the same time last year.
Also Luong Tri Thin, director of the Dat Xanh Real Estate Construction Service Company, said that the company has received about 200 people each day who asked for information on land plots.
Analysts attribute the positive signs to cuts in deposit rates and lending rates as well as property developers discounting.
However, property expert Nguyen Ngoc Duong, the chairman of the managing board of the Five Star Joint Stock Company, is urging property investors to be cautious before making any investment decisions in order to reduce risks.
“The market has become more lively thanks to the increasing number of people who become real estate agents to study market information. In reality, the number of successful transactions still stands at a modest level,” he said.
Le Hoang Chau, chairman of the HCM City Real Estate Association, said that it was too early to say whether the local real estate market has recovered as many customers had not yet regained their confidence in the market. (cafef.vn)
Vietnamese
