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Vietnam property-buying consumer survey released

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Ho Chi Minh City and Hanoi are the two most attractive locations for homebuyers in Vietnam, followed by nearby cities and provinces. VGP NEWS

Vietnam property-buying consumer survey released

A study of consumer sentiment in the Vietnamese real estate market in the first half of 2022 was launched on February 25 by Batdongsan.com, the leading real estate trading website in Vietnam.

Based on an online survey of more than 1,000 people nationwide at the end of 2021, the study measures the sentiment of buyers and sellers in the property market and expectations about future prospects.

According to the study, homebuyers in Vietnam tend to seek green and spacious areas. Sixty-one per cent of people surveyed want to live near green space, and 45 per cent are looking to move to the suburbs and less crowded areas.

The top factors buyers look for are entertainment areas, schools, trees and public transport. Many older married Vietnamese people have a higher income and high demand for these factors.

Fifty-two per cent of people surveyed think that real estate prices are too high, but 72 per cent said they need to buy real estate and that real estate prices have decreased due to Covid-19.

Meanwhile, 31 per cent expect real estate prices to continue to increase by more than 10 per cent in the next five years. This is why many Vietnamese prefer to invest in real estate, according to Batdongsan.com director Nguyen Quoc Anh.

Ninety-two per cent of people surveyed plan to buy real estate in the future.

More than half are looking to buy a house in the next two years, with Ho Chi Minh City and Hanoi the two most attractive locations for buyers, followed by nearby cities and provinces.

The biannual real estate consumer sentiment study will measure buyer confidence and expectations.

Batdongsan.com CEO Robert Vu said: “Our website has developed the data on the local property market and published many reports relating to this market. However, the market still needs information about trends of real estate buyers, so we implement this sentiment study.”

Sushmita Mohapatra, head of content marketing at PropertyGuru, said: “The study’s findings show that Vietnam’s real estate trends are similar to those in other countries in the region.

“For example, most Vietnamese, Singaporeans, Malaysians and Indonesians want to own homes in less congested areas, and most expect real estate prices to rise in the future, particularly in Vietnam and Malaysia, which have high urban and real estate development rates.”

“We believe that the report results have objectively and fairly reflected market realities in various nations over many years and that this report will be an important and effective reference tool for property customers in particular, as well as the Vietnamese real estate market in general.”

The real estate consumer sentiment study has been conducted since 2009 in four other countries, Singapore, Indonesia, Malaysia and Thailand, by PropertyGuru, the parent company of Batdongsan.com.

“This report has a history of more than 12 years in the Southeast Asia market. It has been used by users as well as media agencies in the region as a reference source when assessing market fluctuations and real estate consumer sentiment,” Mohapatra said.

VIET NAM NEWS/ASIA NEWS NETWORK

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