HO CHI MINH city: Despite the government’s concerted efforts to address the challenges of the property market, the market won’t improve until the end of 2024 due to a lack of affordable housing, experts say.
Experts have warned the market will continue to struggle with limited access to capital, legal bottlenecks and the inability of companies to redeem bonds.
In the most optimistic scenario, the market will face at least two more challenging quarters before entering a recovery phase in the second half of 2024.
Different property segments will require different amounts of time to regain liquidity and reach their full potential, according to the experts.
A report by the Vietnam Association of Real Estate Brokers showed that liquidity in the property market has been gradually improving, with 6,000 transactions recorded in the third quarter, a surge from previous quarters.
Initially, properties that meet demand, such as social housing, mid-range and high-end apartments, and land in major economic areas will experience the first signs of recovery. Other market segments, such as speculative properties, will take longer to regain liquidity. — Viet Nam News/ANN
