Hanoi Pilots Real Estate Index

The Vietnamese Ministry of Construction has instructed the Department of Construction of Hanoi to build Real Estate Market Index (REMI).

 

Dong Da, Thanh Xuan, Ha Dong, Cau Giay, Tu Liem and Hoai Duc districts are chosen to test the index which tracks the market. This indicator is expected to help policymakers and property businesses to have suitable development policies and strategies.

 

According to the Circular 20 of the Ministry of Construction, the index consists of two key components: Price index and deal index. Data will be built on deals notarised for transfer, property exchanges and market surveys. The ministry expects to pilot the index in four major cities, namely Hanoi, Ho Chi Minh City, Da Nang and Can Tho.