Owning real estate will no longer be a priority for millenials across the world, who will make up half of the global workforce by 2020, according to PriceWaterhouseCooper’s latest Millenials at Work report. The latest trends in real estate development show that environmentally-friendly and smart co-living and co-working models promise to change Vietnam’s property market in 2018. Co-living Shared accommodation is forecast to be the leading trend, as co-living and co-working spaces are becoming more popular among young people. A recent report on Global Market Perspective by Jones Lang LaSalle Vietnam shows that the main target for shared accommodation is young people, and investments have started pouring in. Many co-working spaces have opened in Hanoi over the past few years. Photo courtesy of Toong co-working space. Just last year, Ascott Limited, an international serviced residence owner-operator, introduced a new co-living brand called Lyf (pronounced “life”) which is designed for and managed by millenials who wish to experience local life. Shanghai, Tokyo, London and Paris are forecast to be the cities where demand will rocket to satisfy the increasing need for co-working space among both transnational corporations and startups. Green and smart offices Inside Deutsches Haus HCMC. The building is smart, modern and energy-saving. Green offices have been popular in Vietnam for the past two years, but demand has only recently started increasing for offices that are both green and smart, especially in Saigon. According to a representative from JLL Vietnam, Deutsches Haus, located in HCMC’s District 1, pioneers the trend for smart-green offices. The building is… [Read full story]
After consultation with ministries, branches, localities and experts, on June 19, 2014, the Ministry of Construction submitted the completed Vietnam Real Estate Market Development Strategy to the Prime Minister. The strategy reviews results and shortcomings of the real estate market in the past time, as well as setting out development objectives and resolutions for the upcoming time. Plentiful shortcomingsTogether with economic development, the property market has made robust development steps in all segments, with incremental prices. The strong development of the property market has led to the development of other economic sectors. Gradually improved social infrastructure meets the higher and…... [read more]
The remnants of the "hot" development period of Vietnam real estate market are currently exerting day-by-day impact on market developments. The imbalance between supply and demand is putting pressure on the seller, raising concern to not only investors but also economic experts. Prevalent ghost urban areas That the term "ghost urban areas" is becoming popular reflects the poor status of current new urban areas. The number of unsold apartments now reaches thousands of units instead of dozens or hundreds as before. Abandoned mansions or villas are no longer a strange phenomenon. These are now referred as deserted urban areas. Sadly,…... [read more]
The recent development of the real estate market has been restoring the confidence of people and investors. However, behind this development, economic experts warn that the market still bears too much risk, and one of the main reasons is the heavy dependence of the real estate market on the financial markets. “Milk pumper” of the real estate marketIn recent time, the number of transactions of all segments, especially the affordable housing segment, has increased rapidly; there has been almost no decline in the housing price. This proves a gain in confidence in the real estate market. However, the flourishes have been attributed to the banking system, of which the…... [read more]
This was the statement of Mr Tran Kim Chung of the Central Institute for Economic Management at the workshop "Comprehensive Solutions for Real Estate Market in 2012" recently organised in Hanoi by Vietnam National Real Estate Association. According to Mr Chung, 2012 is the testing period for real estate market to screen real estate enterprises. It will also be a new development period for "financialization" of the real estate market. Noteworthy but little concern It was supposed by Mr Tran Kim Chung that at present, real estate market is noteworthy but paid little attention. There are many reasons, in which…... [read more]
The real estate market in early 2008 has recovered, after a series of policies to stimulate demand. Looking back, this market experienced three times of depression, the first from 1994 to 1996, the second between 1997 and 1999, and the third starting in late 2004 until end of 2006. Currently, most property experts said that Vietnam’s real estate market in 2008 will bounce back in a sustainable manner after a long freeze Untying policies The latest move from state management was seen on 10 January 2008 when the government office released the official dispatch No.231/VPCP-CV delivering the guidance of Deputy…... [read more]
