Domestic property market sees recovery: ministry

The Ministry of Construction (MoC) believes the domestic real estate market has overcome the most difficult period due to positive developments in the market as well as the whole economy in the fourth quarter of 2020.

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The industrial property segment can be considered a bright spot of the domestic market for many reasons such as the European Union – Vietnam Free Trade Agreement (EVFTA) coming into effect and plans for the relocation of many multinational corporations to Vietnam, according to the ministry.

Meanwhile, Vietnam‘s successful disease control is also an important factor to attract more foreign investment.

Those factors would set a good foundation for the real estate market to develop stably in 2021, a representative of the ministry said.

In the fourth quarter of 2020, most businesses in the real estate sector started operating again.

Although the market still faces many difficulties, real estate developers have offered solutions to attract customers like changing areas for developing property projects to catch up with trends of shifting FDI inflows and urbanisation in localities outside big cities, according to the ministry./.

VNA