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Opportunity for the real estate market to regain recovery

Summary About the real estate market in 2013, CBRE’s Managing Director Richard Ellis said that 2013 was the most flexible year of the market with many ways of stimulating demands to speed up the selling progress rate. Besides, property companies also concentrated on advertisement activites and applying flexible payment terms. According to CBRE Vietnam, the high-class apartment consumption rate in 2013 saw the high increase compared with 2012, and the turnover of mid-range apartment was also improved because of the reduction of selling prices. Moreover, the inventory level got continuous decrease in 2013, and the real estate market was expected to gain recovery in 2014 thanks to positive policies. In addition, Director of Business Development Research Institute Le Xuan Nghia considered that 4 state-owned banks would cooperate with Construction Bank to set up the credit package of VND70,000 billion to develop infrastructure systems and apartments for mid-income earners, and this would help the market achieve stronger recovery and the progress of dealing with bad debts in the market would have chance to earn recovery.

 

Source: BĐS