Property recovery expected in late 2024


In the third quarter, 6,000 property transactions were recorded nationwide by the Vietnam Association of Realtors (VARS), a 1.5 times more than the second quarter.

There positivity on the market now compared to the beginning of the year, said Vo Hong Thang, director of markets at property consultancy DKRA Group.

In the third quarter alone 4,800 apartments, houses and land lots were introduced to the market in the south, and 70% of them were sold, he added.

Thang said that a small portion of new supply is expected to enter the market this quarter, and demand will be stable thanks to declining loan interest rate. But strong recovery signs will only be really visible starting from July next year at the earliest, he added.

“Property units that meet real demand, especially those in the affordable and mid-range segments, will be bought first. Speculative assets will have to wait three quarters for a recovery.”

Duong Thuy Dung, senior director at property consultancy CBRE Vietnam, also said that the affordable and mid-range segments will start to recover in the third quarter next year. High-end products such as villas and shophouses will recover slower in early 2025, she added. Source: vnexpress


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