Experts believe that the real estate market has moved past its easy-going phase and is entering a new cycle that is more sustainable and transparent.
On November 9th, in Da Nang , the Institute for Real Estate Research and Training, in collaboration with the Vietnam Real Estate Council (VREC), organized the National Real Estate Forum 2024, with the theme "Steadfastly Entering a New Cycle".
Speaking at the Forum, Dr. Can Van Luc, Member of the National Financial and Monetary Policy Advisory Council, stated that statistical data shows that both the global economy and the Vietnamese economy have shown a growth trend.
Vietnam's GDP growth forecast for 2024 is around 6.8% to 7%; both registered and disbursed FDI capital are increasing; inflation is under control; industrial production is recovering; and the number of international visitors to Vietnam is also increasing significantly, by more than 41% compared to the same period last year…
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| The National Real Estate Forum 2024 was held in Da Nang City. |
According to Mr. Can Van Luc, the current context presents many opportunities for the economy and real estate businesses. Growth drivers are recovering significantly; consumer demand is recovering both domestically and internationally; exports are increasing strongly; private investment is recovering, FDI is increasing considerably; planning and public investment are being promoted; and the service sector is growing, especially tourism , accommodation, food and beverage, and logistics…
Furthermore, the macroeconomic foundation and risk management have improved significantly; fiscal risks such as public debt, foreign debt, and government debt repayment obligations are at a moderate level. Inflation is under control; interest rates are decreasing, and exchange rates are gradually stabilizing; bad debts are under control; the stock market is performing well, and the real estate market is gradually recovering.
International integration is being strengthened with the upgrading of strategic partnerships with the US, Japan, Australia, etc., helping to boost exports, investment, and tourism. The digital economy, green economy, circular economy, and energy transition continue to be promoted, driving digital transformation, circular business, and green real estate.
The improvement of institutions through the implementation of the Land Law, the Housing Law, the Real Estate Business Law, etc., helps businesses operate in a healthier and more sustainable manner.
“Real estate businesses must now prepare themselves for a new phase. This includes preparing to implement the new laws passed by the National Assembly and the Government. They must also prepare their human resources, as the workforce needs to be standardized, more professional, and more transparent. The era of speculative real estate trading is over; it must be more substantial, sustainable, and transparent,” Mr. Luc shared.
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| Dr. Can Van Luc speaks at the Forum. |
According to Mr. Luc, real estate businesses now need to implement solutions to continue restructuring their operations; control cash flow, financial, and debt-to-debt risks… and proactively seek out and access support programs and packages from the central government.
At the same time, diversify sources of capital, products, and partners; proactively pursue green transformation, circular business, and digital transformation; and prepare well for the implementation of new laws on land, housing, and real estate that have come into effect.
Mr. Nguyen Duc Lap, Director of the Institute for Real Estate Research and Training, also commented that the easy times for real estate have passed.
“The new legal frameworks are strict and clear, and the state's supervisory tools are effective and modern, requiring businesses participating in the market to adapt quickly, possess strategic vision, and think innovatively. Investors need to proactively research and analyze the market, and continuously improve their capabilities to make effective business decisions. Professionalism, business ethics, and a focus on sustainable development are essential,” Mr. Lap shared.
Source: https://baodautu.vn/batdongsan/bat-dong-san-buoc-vao-chu-ky-moi-ben-vung-hon-d229618.html
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