Prospects for Vietnam Real Estate Investment in 2024

Resolution No. 33/NQ-CP as the most critical signal

According to the Vietnam Real Estate Brokers Association's (VARS) Q3/2023 Market Report, the Government, in collaboration with different agencies and ministries, aggressively intervened to revitalize the real estate market in the first nine months of 2023. Notably, approximately 20 government policies were constantly and firmly publicized, contributing to increased trust and strength in the market and connected parties.

VARS recognizes Resolution No. 33/NQ-CP dated March 11, 2023 as the most critical signal, offering unambiguous advice and direction. Over time, government systems and policies have become more in tune with the actual demands of the market and enterprises.

As a result, numerous market concerns and challenges have been gradually overcome, clearing the way for the restart of the majority of "competent" projects. As a result, the real estate sector is seeing more favorable improvements. For the first time in many years, project investors have demonstrated excitement in sales by implementing appealing demand-stimulating strategies such as discounts, promotions, prolonged interest rate assistance, early possession, and extended payment terms, including projects lasting up to three years.

Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association (VARS), sees 2024 as both a hard year for the real estate business and an excellent chance to rejuvenate the market. With 31 of 63 provinces releasing plans, important cities include Hai Phong, Can Tho, Da Nang, Quang Ngai, Phu Tho, Ninh Thuan, An Giang, Ca Mau, Ben Tre, Kon Tum...

New Supply and Diversification

Many large-scale projects began sales campaigns, diversified supplier sources, and increased transactions in the fourth quarter of 2023. Numerous developments in both the Northern and Southern areas, such as Canopy Residences, The Moonlight 1 An Lac, Akari City, Glory Heights, and The Global City, are adding to new supply. Tourism resort real estate is also making a strong recovery, which bodes well for the market.

Mr. Dinh Trong Thinh, an economic analyst, argues that with low bank interest rates, investors would seek investment channels like as equities or real estate. Deposit interest rates have been reduced, and new sales policies are encouraging transactions.

Positive improvements in the macroeconomic environment, as well as predicted economic development, are signs of a healthy economy. The market might flip from Q3 to Q2/2025 in 2024, especially after rules like the Housing Law 2023 and the modified Real Estate Business Law are approved. For those interested in the Vietnamese real estate market, the beginning of 2024 will present a unique chance. Positive aspects such as a solid recovery, support programs, and new planning all contribute to a good investment climate. This decision, however, indicates the necessity for thorough assessment of investing strategy and goals in order to prevent future regrets.

Vietnam Real Estate Forum 2024 

The Vietnam Real Estate Association has directed the Vietnam Real Estate Brokers Association to organize the Vietnam Real Estate Forum 2024 (VREF 2024) to assist those active in the industry and individuals interested in the real estate market in understanding the information and indicators of the 2024 market.

The program will provide a comprehensive view of the Vietnamese real estate market in 2023, with participation from leading domestic and international experts in economics and real estate, discussing and analyzing new trends and making forecasts and recommendations for the 2024 market.

This is a chance for real estate companies, investors, and customers to devise proper recovery strategies and capitalize on recovery prospects in the future years. Simultaneously, the event provides possibilities for networking and sharing opportunities for cooperation and business between real estate firms, VARS members and partners, clients, investors, financial institutions - credit - banks, investment funds, and so on.

The primary issues of the event will be: Overview of the Vietnamese Real Estate Market in 2023, Institutions and their Impact on the Vietnamese Economy in 2024, and Opportunities and Challenges in the Vietnamese Real Estate Market in 2024, Global Real Estate Trends in 2024, Scenarios for the Vietnamese Real Estate Market in 2024, Cash Flow for Real Estate Development, Investment, and Consumption in 2024, and Unlocking Capital for the Vietnamese Real Estate Market are some of the topics covered in this report.