Real estate prices in Vietnam expand by 59% over 5 years

Society – Economy - Ngày đăng : 10:02, 04/12/2024

Vietnam's real estate price growth over the past five years has reached 59%, significantly higher than other countries such as the US (54%), Australia (49%), Japan (41%), and Singapore (37%), according to data from the Global Property Guide.

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The information was shared by Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn – a reputable property platform in Vietnam, at the 2024 Vietnam Real Estate Summit on December 3.

Anh stated that economic growth, governance, and social demand are the three main factors influencing real estate prices. In addition to strong per capita economic growth, favourable interest rates and the effectiveness of domestic investment channels have reinforced consumer demand for real estate purchases.

He pointed out that the Vietnamese people primarily use main investment channels such as the financial market, real estate, gold, foreign currencies, and savings deposits. Notably, real estate is considered the best-performing investment channel in the country over the past decade, with apartment returns reaching 197% and land plot profits yielding 137% in Q4/2024 compared to those in Q1/2015.

According to the real estate expert, Vietnam's population and urbanisation rate create numerous opportunities for the growth of real estate demand. The trend of smaller family sizes is also driving demand for property purchases for the next generation to inherit, along with young people's journey of home ownership.

VNA