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The market under views of foreign consultants

 

According to CBRE, the realty market is dropping down strongly and prices are coming back to the level in 2007. According to Mr. Marc Townsend, Managing Director of CBRE Vietnam, developers focusing on investing into mid- and hi-end segments have to pay a heavy price due to low sale rate. In recent time, many real estate enterprises have lowered their offering prices as well as suffered loss to clear up inventories. Being a foreign consultant with much experience of Vietnamese market, Mr. Marc Townsend said that, the gloomy realty market leaves disastrous consequences for house buyers, developers, investors and banks. That other investment channels are less attractive makes investors to gradually come back to the realty market regardless of Circular 02.

 

Meanwhile, Mr. Chris Brown, CEO of Cushman & Wakefield, said that B-grade and C-grade apartments are controlling Hanoi and HCMC realty market. However, the low transaction volume makes developers to seek different measures such as dividing apartments into smaller ones, completing apartments for lease, etc. Mr. Chris Brown proposed that, supporting policies from the State and the Governement should be more specific and the transparency of real estate investment mechanism should be increased for foreign investors.