The leadership of the Ministry of Construction said that the real estate market in 2019 would not stand out from 2018. Industrial and tourism real estate was forecasted to be 2 key investment trends of the market.
Mr. Nguyen Manh Khoi, Deputy Director of Housing Management and Real Estate Market said this year, the market would not be much different from 2018, even some types were showing signs of reducing transactions, reduced supply compared to the same period last year. Mr. Khoi took the example of apartment supply in Hanoi in the first quarter of this year, only about 5,000 units, accounting for 20% compared to 2018, or in HCMC, the number of apartments eligible for sale in the quarter was 3,300 units, ie equivalent to 12% over the same period.
Mr. Nguyen Manh Khoi, Deputy Director of Housing and Real Estate Market Management Department. Photo: Investor.
The cause of the decrease in supply, according to the leadership of the Ministry of Construction, was the process of inspection and review of legal procedures. This inspection process directly affected the supply of apartments and strongly affects the psychology of home buyers in the past time. Regarding market movements in the next 8 months, representatives of the Housing and Real Estate Market Management Department said that the trend of real estate investment in tourism and industrial real estate was still two important trends. The policy impacts of the State and the investment trend of foreign enterprises were expected to affect the whole market.
Mr. Nguyen Manh Khoi also said that from now until the end of the year, it was expected that there would be 4 laws relating to real estate are amended, of which the Bidding Law and Construction Law would affect the real estate market. Therefore, businesses must prepare their minds and investment trends. From the perspective of the management unit, this expert stated that in the next 8 months, the real estate market would be restructured more clearly; had a clear legal basis for new types of real estate such as condotel, officetel...; There would be no "super hot" situation for each segment of product segment...
According to Lam Tung