The domestic real estate market is believed to have reached the bottom and expected to roar back to life this year thanks to a slew of measures taken by the Government, ministries, agencies and localities.

Vietnam was able to report strong foreign investment attraction results for the whole 2023 on the back of efforts to improve the domestic investment climate.

Housing prices have not fallen during the current economic downturn, even going up in some segments, unlike during the 2008 recession when prices fell dramatically in some cities.

Fire sales of land plots have decreased in the second half of 2023 and the segment remains the most popular on the property market, real estate consultancy Batdongsan said.

Foreigners should be allowed to buy resort property in Vietnam, not just residential units, in order to draw foreign currency and promote tourism, a Sun Group executive has proposed.

President Vo Van Thuong has called on the US-APEC Business Coalition to push for Vietnam’s recognition by the U.S. as a market economy.

The developer of the US$4.23-billion Ho Tram casino and resort complex in southern Vietnam has sought to postpone its completion to 2027, the 11th time it is delaying it.

A number of investors from Europe, Japan, the U.K., and the U.S. are waiting in the wings to enter Vietnam, according to M&A experts.

Affordable apartments accounted for more than half of the total supply in Hanoi in 2015, but now make up only 5% this year.

Hotel occupancy rates in Southeast Asia have trended upward since the reopening of all major markets. However, a competitive labour market, rising energy costs, geopolitical tensions, and expensive travel continue to impact hospitality demand.

Vietnam is seeing signs of recovery in exports as global demand warms up, but improvement is uneven across sectors, analysts say.

Vietnam’s government aims to boost its real estate sector by easing bank credit and tackling legal, land, and administrative hurdles to foster market growth.