Real estate prices in Vietnam expand by 59% over 5 years

Vietnam's real estate price growth over the past five years has reached 59%, significantly higher than other countries, according to data from the Global Property Guide.

The information was provided by a representative of property platform Batdongsan.com.vn, at the 2024 Vietnam Real Estate Summit held recently.

Accordingly, economic growth, governance, and social demand are the three main factors influencing real estate prices. In addition to strong per capita economic growth, favorable interest rates and the effectiveness of domestic investment channels have reinforced consumer demand for real estate purchases.

The Vietnamese people primarily use main investment channels such as the financial market, real estate, gold, foreign currencies, and savings deposits. Notably, real estate is considered the best-performing investment channel in the country over the past decade.

According to the real estate expert, Vietnam's population and urbanization rate create numerous opportunities for the growth of real estate demand.

The trend of smaller family sizes is also driving demand for property purchases for the next generation to inherit, along with young people's journey of home ownership./.

By: VNA