Vietnamese
MACROECONOMIC OVERVIEW
In the 3rd quarter of 2020, Vietnam’s GDP grew by 2.6%. Although this is the lowest growth rate in the past 10 years, Vietnam is still in the group of countries with the highest economic growth in the world. According to forecasts of ADB and World Bank, the economy growth is forecast to recover from 6.3% – 6.8% by 2021.
Industrial real estate has not witnessed many changes in 2020 although it is expected to be a growth engine for the economy in general and Vietnam’s real estate market in particular. From quarter 1 to quarter 2/2020, the number of industrial parks established and put into operation has only increased by 1 unit. However, for industrial parks in operation, online searches increase in industrial zones in Hanoi, Bac Ninh, Binh Duong and Ho Chi Minh City …
Real estate forecast for the 4th quarter of 2020
Vietnam would completely control the Covid 19 epidemic, the domestic economy will recover and record positive signs of growth, the demand will also increase to warm up and recover the real estate market.
The supply of real estate projects is supposed to stay unchanged while the scarcity of new real eatate projects in big cities is still recorded. In other localities, the market depends mostly on previously implemented projects. The newly approved projects will be deployed more but after the localities stabilize their organizational structure after the Congress Meeting. Many land auction projects will be deployed in localities to create public budgets to ensure development investment for the new term.
The volume of transactions and the percentage of goods consumption will increase compared to the third quarter of 2020.
In general, market price is expected to be the same.
At the end of the year, the pressure on investment demand to efficiently use money increases, resulting in searching for land in those allegedly hot spot for land projects. This trend can possibly pay the wave for unofficial and uncontrolled transactions by chance, especially vitual market and price bubbles. It is advised that all localities and individuals should be careful before these changes of real estate market.
The wave of investment and shopping at the end of the year is likely to have a positive impact on the national real estate market. The localities, especially the investors, the real estate trading floor need to have a timely policy to attract and exploit effectively in the end of this year.
Source: Vietnam Real Eatate Association.
