A recent report by Batdongsan.com.vn shows that Vietnam has the highest percentage of people planning to buy a house in Southeast Asia.
Up to 92% of more than 1,000 respondents said they planned to buy a house, and over half of them wanted to buy a house within the next two years, mainly those aged 40 and over.
Ms. Sushmita Mohapatra, Content Director of PropertyGuru, said this is the highest rate in Southeast Asia, compared to 70% in other markets such as Thailand, Indonesia, Malaysia, Singapore. The difference is that Vietnamese people mainly buy real estate for living and for their children, while Thais buy for retirement, and people in other countries often buy for investment.
In terms of location, Ho Chi Minh City and Hanoi account for nearly 80% of the demand for housing as the majority of consumers intend to buy a house in the same residential area due to travel restrictions during the pandemic.
Another finding is that more than 75% of property owners want to purchase another property while keeping the existing one. A survey by Batdongsan.com.vn shows that nearly 80% of Vietnamese own at least one property. These are people who are 40 years old or older, married and have an income from 20 million VND/month. Most people with monthly income from 70 million VND or more own at least 2-3 properties.
According to the survey, up to 86% of respondents said the domestic real estate market price was high or very high, while home loan interest rates are also high. However, many people still planned to buy real estate because they were optimistic about the return on real estate and expect the price to increase in the next five years.
It is forecast that investment will still be poured into the Vietnamese real estate market in the coming time.
A number of problems and violations in social housing use and management in Hanoi, HCM City, Da Nang, Khanh Hoa, Binh Dinh, Phu Yen and Dak Lak have been found recently.
Vietnam needs an estimated VND220 trillion ($9.6 billion) to build about 294,600 units of social housing for low-income earners in urban areas and industrial parks in the 2021-2025 period, according to the Ministry of Construction.