Investors prime real estate

In 2022, the retail market in general and townhouses in particular recovered with a better occupancy rate, but the recovery has not reached the level of the pre-COVID-19 period. — Photo tapchixaydung.vn The retail space market has the opportunity to grow strongly in 2023 with the forecast of the recovery of the retail industry, especially with new investment of foreign brands in Viet Nam. Many retail brands are looking at Viet Nam because the economy is strong, and they see the potential. Brands are diverse and range from luxury to mid-market brands, said Nick Bradstreet, head of Asia Pacific Retail, Savills. For example, Lotte is completing a new project, and it is expected to welcome international brands. "The challenge Viet Nam is facing is that there are not enough shopping centres being built to meet the demand from international retailers," he said. Viet Nam’s economy is growing quickly, which creates an attractive retail outlook. By 2025, Viet Nam will be the third … [Read more...] about Viet Nam retail real estate market expects growth in 2023

Tran Khanh Quang, CEO of developer Viet An Hoa, said by the end of the second quarter companies would settle problems such as big inventories and sluggish cash flows. From the third quarter onwards the market would gradually recover, provided bank loan interest rates remain steady at 10-12%. The decrease in prices could then slow down. This scenario was 50% likely, but in a more optimistic one the market would quickly recover starting at the end of the first quarter though the likelihood was only 20%. In the former case, prices in prime locations in HCMC would plateau but continue to drop in the suburbs, with few transactions taking made. Prices would decrease by 5-7% in the city’s three neighboring provinces of Long An, Binh Duong and Dong Nai, 10-15% in Ba Ria- Vung Tau and 15-20% in more distant provinces such as Tay Ninh, Binh Phuoc and Dak Nong. Large real estate companies were trying to fix cash flow bottlenecks by extending debts, selling part of their projects, … [Read more...] about Real estate market to remain mired in difficulties in H1: industry

In recent years, the real estate market in many regions, notably in large cities like Hanoi and Ho Chi Minh City, has seen a constant price rise, preventing many individuals with genuine housing requirements from purchasing affordable houses. Numerous experts have noted that the structure of real estate goods is out of sync, as the shopping cart is dominated by unsuitable items for consumers' budgets. This is also a contributing factor to the fast decline in liquidity when the market is volatile. According to Nguyen Nam Hien, chairman of VPCORP, the real estate market will undergo a purification phase in 2023 and discover its genuine worth. Demand for housing remains high, particularly in the medium-market category, which meets the demands of the vast majority of clients. Especially in Ho Chi Minh City's outlying towns, possibilities will arise for investors and those with genuine housing requirements. This year, according to Hien, mid-priced homes continue to dominate the … [Read more...] about Genuine estate market relies on demand

Minister of Planning and Investment Nguyen Chi Dung Many of Vietnam’s 2022 statistics were positive and beyond the forecasts. How did the country overcome the hurdles to get such good results? Vietnam has achieved comprehensive results in numerous sectors and fields, completing and exceeding some socioeconomic targets. Macroeconomy remained stable, inflation was controlled, and major balances were ensured. The average consumer price index was estimated at 3.15 per cent, and GDP growth was at 8.02 per cent. Financial markets and currencies are basically stable; interest rates and exchange rates are adjusted in line with market developments; liquidity is ensured, credit growth is reasonable, and bottlenecks of capital flow in the economy are removed, directing credit to production and priority sectors. Price management is directed drastically and effectively, especially for essential commodities like petrol and oil. These results come from the efforts of the whole political … [Read more...] about Resilient and strategic breakthroughs

The keys to economic momentum. Photo: Shutterstock Michele Wee, CEO of Standard Chartered Vietnam “Maintaining macroeconomic stability” We expect the global economy to slow in 2023 as central banks around the world maintain restrictive monetary policies. We forecast modest global GDP growth of 2.5 per cent in 2023, slowing from an expected 3.4 per cent in 2022. The headwinds that have faced most economies in 2022 are likely to persist in the months ahead, however, we anticipate a recovery to take hold in the second half. Our recent global research report on Vietnam indicates that GDP growth is likely to remain strong in 2023. We still have a conviction about Vietnam’s high-growth potential over the medium term, expecting the growth rate to be 7.2 per cent in 2023 and 6.7 per cent in 2024. While macro indicators moderated somewhat in Q4/2022, they remain largely robust. Retail sales posted solid growth in the second half of 2022, implying improved … [Read more...] about The keys to economic momentum