CBRE Vietnam recently released their market review for Vietnam 2011.
According to CBRE affordable residential properties are holding their value better than any other segment, in light of the challenging economic conditions. Secondary prices in the affordable segment dropped a slight 0.6 per cent in the fourth quarter, the smallest drop of any segment in primary and secondary markets.
The lure of a settled life and finding a piece of land to call home is an attractive proposition to many Vietnamese, and this keeps the residential market stable according to Marc Townsend, managing director of CBRE Vietnam.
“The affordable residential segment is showing relatively strong capital value performance in the challenging economy. This is because historically there has been less speculators and investors in the segment. Most of the demand in the affordable segment comes from end-users, so the transactions we see in this segment represent the real demand of people looking for a place to live” Townsend said.