Vietnam’s real estate market expected to surge in 2011-2012

The report on Vietnam’s real estate market in 2009 and prospect for 2010, which surveyed over 35 enterprises, 500 consumers and specialists in big cities of Hanoi and HCM City, forecasts that the market will restore between 2010 and 2011.

Being released yesterday, the report said that 43 percent of surveyed people in Hanoi believed that the real estate supply will increase strongly while other 57 percent thought about a modest growth rate. Meanwhile, the rates are 28.6 percent and 71.4 percent in HCM City.

Given an assessment on the domestic property market, most specialists said that the breakout phase of real estate market usually takes place every 5-6 years (1995, 2002 and 2007). Thus, the upcoming price increasing period of Vietnam’s real estate market could fall in 2011 or 2012.

Citing the report, 61.5 percent of surveyed consumers said they would purchase property to serve their own purpose, 11.5 percent for short term investment and 27 percent for long term investment.

 

Category: Business