Real estate market remains strong amidst COVID-19 pandemic

The real estate market remains attractive and many segments are expected to become bright spots to accelerate the market growth in 2022. (Photo: VNA)

The Vietnamese economy faces many difficulties this year due to the COVID-19 pandemic and the real estate market is no exception. However, the real estate market remains attractive and many segments are expected to become bright spots to accelerate the market growth in 2022 thanks to the flexible response.

Nei MacGregor, General Director of Savills Viet Nam said the residential real estate segment still has advantages, especially those in urban areas will develop strongly while giving an assessment on the general picture of Viet Nam’s real estate in 2021 and in the first months of 2022.

According to David Jackson, General Director of Colliers Viet Nam, for individual investors, residential real estate in the suburbs of Ho Chi Minh City and Ha Noi is a segment that worth considering in 2022. Specifically, products with reasonable prices, high quality of living space and utilities will be suitable choices for long-term investment.

Besides, industrial real estate and logistics continue to be forecast to skyrocket. This has been a sought-after segment for the past few years and it will continue in the coming years, creating growth momentum as manufacturing plants begin to set up establishments in Viet Nam to invest in new projects.

MacGregor cited the recent announcement that a LEGO factory will be built in Viet Nam and apply high environmental, social and governance standards to their designs as a typical example.

There emerged new trends in the real estate market, especially in the office segment due to a prolonged pandemic. One of the most recognisable trends in the post-pandemic in the world is the combination of work-from-home and office models.

Regarding housing and resort investment segments, homebuyers are looking for real estate in the suburbs of the city, according to world trends. Owners of this real estate product choose to move to the countryside in search of open spaces and enjoy the atmosphere close to nature. Viet Nam also follows the world trend with the emergence of attractive markets located in Bao Loc, Da Lat cities of Lam Dong province and Ho Tram coastal destination in Ba Ria-Vung Tau province.

Another common trend is digital real estate investing that appeared before the pandemic and is now growing rapidly. Due to the fragility of the market, people are starting to buy shares of real estate products online and this trend is expected to continue to increase in 2022, experts said.