Vietnam’s strong GDP growth will help the country deliver new home price growth of 7.3% in 2021, according to the data in the Juwai IQI 2020 Q4 Vietnam Property Index and Survey.
Juwai IQI Group Co-Founder and CEO Kashif Ansari said, “The Vietnamese real estate market is one of the bright spots in Southeast Asia at the end of 2020. Few other markets are performing as well. While Vietnam has not been immune to the triple shock of the pandemic, lockdown, and global recession, it has achieved a stronger position than most of its peers. Using a successful combination of lockdowns, public education, and testing, Vietnam controlled the pandemic and reopened its economy, which is already recovering.
“Vietnamese new home prices are expected to climb 7.3% next year, which is better than other markets in the region. The low levels of new supply in the real market have, to some extent, limited buyer activity in 2020. The outlook for 2021 is good with more supply coming onto the market, and buyers gain confidence.
“By contrast with buyers from Thailand and China, Vietnamese prefer to invest in Vietnam. Ninety-three per cent of Vietnamese outbound investment is undertaken to diversify investments, while only 3 per cent is motivated by education.
“Thirty-nine per cent of agents expect outbound transactions to grow in 2021.”