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SG Mixed views on outlook for Vietnam property

Property Here - Monday, May 06, 2013

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By Shabnam Muzammil:

Liquidity in Vietnam’s property market is expected to rise in the third quarter, but will recover in the last three months of 2013, according to Dr. Le Xuan Nghia, Vice-President of the National Financial Supervisory Committee.

Speaking at a recent conference held in Ho Chi Minh City about investment opportunities during a crisis, he stated that in order to support recovery, the government must improve administrative procedures related to land use and asset liquidation, as well as support home buying with long term low-interest rate loans.

Meanwhile, Cheong Ho Kuan, Press Director of Gamuda Land Vietnam, expects the property market to recover this year and do well in 2014, due to a slew of supportive policies from the government.

However, John Gallander, Director of Savills for Hanoi, predicts that the market will remain subdued, will selling prices falling during the first half of the year. He added that most transactions will come from popular segments.

Le Xuan Truong, Managing Director of leading property portal Batdongsan.com.vn, spoke about the difficulty in selling inventory considering the current situation in the local property market.

At a conference organised by the Ho Chi Minh Real Estate Association on the country’s real estate market in 2013, Tran Kim Chung, Chairman of CT Group, was pessimistic and said the market would not see any signs of recovery this year.

Economic analyst Dinh The Hien forecasts transactions to take place by the end of this year for apartments with good pricing and location, adding that the public should not be too anxious or pessimistic.

The government has already implemented new policies aimed at restructuring the economy and propping up the property market. But experts feel the measures will need some time to take effect.

Dr. Tran Du Lich, member of the National Assembly’s Economic Commission, noted that consumers should not be pessimistic, but need to wait for the market to adjust itself under the policies.

Source: http://batdongsan.com.vn/



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg