On Dec 12 and Dec 17, Batdongsan.com.vn held annual seminar with the theme "Vietnam Real Estate Market 2016-2017: Overview and Forecast" in Hanoi and Ho Chi Minh City, respectively. In addition to valuable market information provided by experts, one of the most-awaited contents of the seminar is Batdongsan.com.vn’s market report based on our research on behavior of Internet users.
The seminar warmly welcomed respectful experts: Prof. Dang Hung Vo; Nguyen Manh Ha, Chairman of Vietnam Real Estate Broker Association; Can Van Luc, economic expert; Dr. Nguyen Duc Thanh, Director of Vietnam Institute for Economic and Policy Research (VEPR); Gaffoor Ismail, CEO of P & N Holdings Corporation, parent company of Singapore's largest property distributor PropNex ... In addition, more than 500 guests attended our seminar in Hanoi and more than 1,000 came to the event in HCMC.
The seminar welcomed many leading experts in real estate sector
A panorama of Vietnam property market in 2016 and forecasts for the mainstream in 2017 was clearly reproduced by the leading experts in this seminar.
Dr. Can Van Luc pointed out highlights and challenges of the world economy in 2016. He stressed the positive changes in Vietnam's economy - a strong factor affecting the growth of the property market. Dr Luc said: "In 2016, the property market remains stable and positive development. The number of new enterprises established in the first 11 months of 2016 reached approximately 102,000, an increase of 17% in number and 48% in registered capital over the same period in 2015."
More than 1000 guests attended the seminar
However, besides these positive signals, Dr. Luc also listed difficulties that Vietnam property market has been facing such as a poor financial institution system, risky financial leverages; incompatible development between property market and relevant ones (capital, building materials, construction, labor ...); lack of an accurate, reliable market information system; shortcomings in State management, planning for market, etc.
At the seminar, Prof. Dr. Dang Hung Vo made an overview assessment on Vietnam real estate market in 2016 on aspects: policy, market segments in general and residential segment in particular.
Prof. Vo pointed out the mismatch of supply and demand in the two major markets of Hanoi and HCMC in 2016. At the high-end segment, demand accounts for 20% but supply makes up 80%. Meanwhile, at the affordable segment, demand-supply ration is 80:20. This mismatch, according to the professor, poses urgent problems on developing more affordable housing.
Nguyen Quoc Anh, Deputy General Director of Dai Viet Group hiển the market based on
our report based on research on the behavior of Internet users.
Sharing the same view with Prof. Vo, Mr Nguyen Manh Ha, Chairman of Vietnam Real Estate Broker Association, also expressed his concern about the mismatch of supply and demand and the abnormal rise of real estate credit in 2016. This unusual increase is worrying because the specific adjustment effects are unknown.
Besides, Prof. Vo also emphasized the boom in tourism and resort real estate segment this year. He forecasted this segment would continue to grow strongly in 2017. However, the professor also warned investors to beware of the risks when entering this segment, for example, the inadequacies of the tourism and resort real estate contracts between project developers and buyers; oversupply of tourism and resort real estate in the same locality, etc.