Although most parts of the real estate market continue to shrink, the demands of both domestic and foreign businesses tend to increase on account of acceptable prices.
The statement was made by CB Richard Ellis (CBRE) Vietnam when presenting an overview of the Vietnamese real estate market in the third quarter of this year.
The recovery of the global economy, especially the Asia-Pacific economy, is bringing investors back to Vietnam. If the demands are going to be sustainable, prices will remain stable in 2010although the office market will have an abundant supply from late 2010 to 2011.
CBRE’s director, Richard Leech, said the growth of the stock market has encouraged customers and investors to return to the housing market.
Like in the second quarter, land prices in new urban areas are going up fast. This is good news for investors but skyrocketing prices may put the market stability at risk.