Real Estate Market to Officially Recover in a V-Shaped Manner by Late Q2 This Year

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A recent report titled “Recovery Points and Acceleration” by the Vietnam Real Estate Research Institute (VIRES) reveals that the real estate market is currently at the bottom of a U-shaped trend and is in a sideways cycle. However, experts predict that the market will continue this sideways movement but with a slight upward trend.

According to VIRES’ forecast, the market will officially start its recovery phase in late Q2 of 2024, following a V-shaped trajectory. However, the pace of this upward movement is expected to be slow and dependent on various factors, both objective and subjective.

At the upcoming Fourth Annual Spring Real Estate Forum, representatives from the Ministry of Construction, the Vietnam Real Estate Association, the Advisory Council of Real Estate Magazine (Reatimes), and VIRES will analyze and discuss key topics that are currently receiving significant attention and play a crucial role in determining the market’s recovery in the coming period.

During the event, jointly organized by Reatimes and VIRES and scheduled for the morning of March 15th, experts will address the macroeconomic situation of 2024-2025 and its implications for the current real estate market in Vietnam. They will also discuss the legal framework that will drive the market’s transition to a new phase, particularly the implementation of three key real estate laws and the timely resolution of obstacles in decrees and regulations.

The High-Level Dialogue session will focus on two prominent issues in the current market. The first pertains to the pilot implementation of commercial housing projects through agreements on land use rights or the existing land use rights for different sites.

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The second issue revolves around restructuring real estate products to align with genuine needs, not only for social housing but also for affordable commercial housing. Experts and panelists will discuss the development policies for social housing in the 2024 Land Law and the challenges that arise. They will also share international experiences and propose models for affordable commercial housing development. Through these discussions, practical policies and solutions will be proposed to foster the development of these two segments, ensuring a safe, healthy, and sustainable real estate market.

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