Vietnam Report names most reputable developers
Vietnam Report names most reputable developers
Vietnam Report has ranked the top property developers in the market in terms of reputation, based on financial capacity released in the latest financial reports.
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Other criteria in naming the groups involved media products from each company, and survey results from experts in the real estate market, as well as residents who are actually living in the projects of the candidates.
The real estate market in Vietnam experienced both highs and lows in 2019. The overall situation was still at low supply and high demand, especially in major cities like Hanoi and Ho Chi Minh City.
The absorption rate of property products last year was at 70 per cent compared to the 60 per cent of 2018, with some major locations achieving 80 per cent.
The supply to the market was reported at more than 107,000 units, only more than 60 per cent compared to this in 2018.
Of those, more than 72,800 units were sold last year, occupying 64.7 per cent compared to the previous 12 months.
According to Vietnam Report, the tightened procedures on project approvals and implementation, as well as tightened credit sources for the real estate sector, were the main reasons for the low supply.
Also last year, nearly 600 businesses were closed down within the sector. Many small-sized and startup enterprises were disbanded due to lack of investment capital and facing difficulties in capital approach.
Vietnam Report also stated that nearly 53 per cent of real estate businesses assessed that the investment environment in 2019 was slightly worse than in 2018.
