(CLO) Experts believe that the real estate market will improve and there will be explosive opportunities for the following segments: Industrial real estate market, social housing, ecological urban areas, smart urban areas and tourism real estate.
Important milestones of the real estate market
At the Vietnam Real Estate Community Conference 2025 (VRECC 2025): "Breakthrough Era" held on the afternoon of January 9, Associate Professor, Dr. Tran Dinh Thien, member of the Prime Minister's Economic Advisory Group, former Director of the Vietnam Economic Institute, pointed out 7 milestones shaping the real estate market.
According to Associate Professor, Dr. Tran Dinh Thien, in 1987, the 1987 Land Law was issued, regulating the regime of public ownership of land and land use rights, which were the first foundations to shape the Vietnamese real estate market.
Associate Professor, Dr. Tran Dinh Thien, Member of the Prime Minister's Economic Advisory Group, former Director of the Vietnam Economic Institute. (Photo: XD)
Then, in 1993-1994, the National Assembly passed the 1993 Land Law and the Housing Ordinance, which allowed easier transfers. From here, the demand for land increased and real estate transactions gradually exploded.
Also at this time, Decree No. 18 and 87 on land tax, preventing speculation, and regulating the market also marked a "turning point" in fighting against speculation and price inflation in the real estate market.
By 2000-2001, the Enterprise Law 2000 and the Foreign Investment Law 2001 allowed overseas Vietnamese to buy houses in Vietnam and at the same time issued a new land price list. This was also the time when the Vietnamese real estate market recorded a sudden increase in land prices.
In 2003, the Land Law 2003 was officially enacted, along with Decree 181, which was also issued to limit the subdivision and sale of land and regulate real estate prices.
In 2005, the new land price list was adjusted closer to the actual price, which put pressure on real estate projects, many projects suddenly fell into difficulty because the cost of site clearance became high.
By 2007, many new legal corridors such as the Law on Real Estate Business, the Law on Real Estate Registration, the Law on Land Use Tax, and the Law on Housing marked an important milestone in shaping the real estate market.
In particular, Vietnam's decision to pilot a program allowing foreigners to buy houses in Vietnam has opened a new page for the real estate market.
In 2013-2014, the real estate market witnessed a major change when the 2013 Land Law, the 2014 Real Estate Business Law, and the 2014 Housing Law were born and shaped the market.
Associate Professor, Dr. Tran Dinh Thien said: In 2007-2008, from fever, the real estate market turned to a gloomy phase, and it was not until the end of 2013 and the beginning of 2014 that the market began to recover.
Since 2014, when the revised Land Law was passed, the VND30,000 billion housing support loan package was launched with an interest rate of 6%, the macro economy has developed positively with reduced inflation, good economic growth (GDP 6.7%), and interest rates gradually stabilizing...
“The market has begun to recover from here with real estate inventory continuing to decrease, and selling prices being adjusted to meet buyer demand,” said Associate Professor, Dr. Tran Dinh Thien.
The market faces a new era
Facing a new era, Associate Professor Dr. Tran Dinh Thien commented that although the world economy still faces many difficulties and instabilities, Vietnam possesses many good conditions for breakthroughs, especially in the real estate market.
However, Mr. Thien noted, Vietnam needs to clearly identify the structural imbalance - supply-demand imbalance and consequences of current real estate market segments.
In particular, in the new context, new era, real estate businesses need to grasp new trends and changes in the economy. Accordingly, the current trend of urban and housing development is green; Smart City; Connecting infrastructure; industrial infrastructure...
“This development is in line with the National Planning and the new era vision,” said Mr. Thien.
Regarding the bright prospects of the real estate market, Associate Professor, Dr. Tran Dinh Thien commented that it will improve and the explosive opportunities will be for the following segments: Industrial real estate market, social housing, ecological urban areas, smart urban areas and tourism real estate.
In addition, Associate Professor Dr. Tran Dinh Thien also pointed out some challenges and opportunities of the future real estate market, which are economic factors in the world and especially the question of whether the land market can continue to be opened up.
According to Associate Professor Dr. Tran Dinh Thien, clearing not only procedural and process problems but also the key points that have not been touched are property rights and market pricing mechanisms. In addition, the issue of clearing capital flows for the Vietnamese real estate market is also an issue worth paying attention to.
Mr. Dao Quoc Viet, Real Estate Review Community Management Board. (Photo: XD)
Agreeing with this view, Mr. Dao Quoc Viet, Board of Directors of Real Estate Review Community, said that the breakthrough era is a strong message about connection, movement and displacement that breaks all limits of the entire real estate industry in the new era.
“It is not only the connection between businesses, investors, distributors, and important elements in the real estate market, but also the connection between real values and social benefits. Businesses are like trains carrying valuable cargoes rolling together on the journey to build a solid real estate economy,” said Mr. Dao Quoc Viet.
Source: https://www.congluan.vn/thi-truong-bat-dong-san-trong-ky-nguyen-vuon-minh-phan-khuc-nao-se-bung-no-post329742.html
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