This Year Vietnam Industry Will Allow Low Cost Housing to Lead the Real Estate Market
Vietnam Real Estate Association Secretary-General Chen Yuguang said the public demand for ordinary housing accounts for about 70% of total housing demand, so the housing will have the opportunity to become a hot area of real estate and lead Vietnam real estate market in 2017. The city low-income workers, industrial park workers on the housing needs are huge and urgent, the state has been promulgated the relevant policies, credit mechanisms and legal provisions in the new “Housing Law” and “Real Estate Law” to develop in line with such needs of the real estate industry. The country is currently preparing specific measures to help develop suitable housing’s need for low-income people.
In year 2015 to 2016, high-end housing launched excessively, far more than the market demand, so the large real estate investors will look for opportunities to develop low-end low-cost housing by using the application of new technology and intelligent technology to reduce construction costs, thereby reducing housing prices. Recently, the famous Vietnamese developer Vingroup Group announced a huge development plan which they will build 20k-30k units of ordinary residential housing, the lowest price of each unit is 700 million VND (about 210,000 yuan), and built a set of education, Medical, sports, culture, shopping, entertainment, landscape and other supporting facilities of the closed residential area so that the residential residents are able to enjoy the professional property management services.