Savills Vietnam, one of the first property consultants to release its owned property index today confirmed that the first quarter of 2013 residential index stood at 89.2, a slight decrease of -0.4 index points quarter-on-quarter (QoQ) and -3 index points year-on-year (YoY).
The State Bank of Vietnam (SBV) has announced it is making VND30 trillion ($1.44 trillion) available to five commercial banks to offer soft loans to home buyers and property developers in an attempt to stimulate the property market and resolve bad debts.
Since early 2013, the diverse high-end properties of Phu My Hung Corporation such as Riverpark Residence and Riverside Residence in Ho Chi Minh City have attracted sharply increasing interest from foreigners living in Vietnam and corporate customers in the market for a long-term lease or purchase, according to a company source.
Arguments regarding property market development, the government’s supportive measures and market perspective were bandied about by scholars, developers and property consultants in a VIR-backed real estate roundtable in Hanoi last week.
Expanding foreign home buyers is now very necessary to help foreigners enjoy a better life in Vietnam as well as help boost the domestic real estate market.