VRES 2023 discusses real estate market trends after changes in laws and policies

VRES 2023 has been continuously organized by Vietnam's No. 1 Real Estate Service Channel batdongsan.com.vn since 2014, attracting thousands of attendees each year, including leaders, economists, real estate experts, and senior personnel in the real estate sector.

In particular, this conference takes place in the context of the market going through a challenging year, an opportunity to look back and evaluate, as well as provide solutions from all aspects: Technology, project development, buyer needs and trends, policy impact.

According to the report on real estate consumer psychology and trends (CSS) in the first half of 2024 by batdongsan.com.vn, 65% of respondents plan to buy real estate in the next year. Of which, 60% buy for investment. Land is the type of property most targeted by potential buyers (33%), followed by private houses (26%) and apartments (24%).

VRES 2023 will focus on reports and presentations revolving around major issues in the real estate industry. Highlights include: Major trends that are taking place and will lead the market; new policies and impacts from law adjustments; shifts in real estate segments and types; current situation and solutions regarding capital and credit sources; consumer psychology and preferences.

The main theme of the event is the trends that “Shape the Future” of the real estate industry. Mr. Nguyen Quoc Anh, Deputy General Director of batdongsan.com.vn, commented that the market is and will depend on certain shifts. In particular, buyers and investors are more demanding in terms of quality and legality of projects. They tend to use more data to make decisions. These are data with many years of history on price fluctuations, investment profits and supply - demand. When customers have more information and become wiser, investors and real estate businesses also need to rely more on data and market research to offer quality products at suitable prices.

In addition, batdongsan.com.vn predicts that products serving real housing needs such as apartments and private houses will be prioritized in investors' portfolios, because they can create regular cash flow and maintain stable price levels.

Notably, real estate experts believe that new points in the Law on Real Estate Business (amended) and the Law on Housing (amended) will impact the real estate market. One of the regulations that many market members are interested in is the tightening of land subdivision. In the coming time, the demand for land will decrease quite sharply, due to buyers' fear of legal risks. The land price level will also be adjusted down, especially for large plots of land. However, in the long term, land prices may continue to increase and transactions will return. Meanwhile, land is a type that any investor in the market can invest in due to the diversity of area, price, and region.

Another notable regulation is that real estate project investors are only allowed to collect deposits of no more than 5% of the selling price or lease-purchase price from customers when the house or construction project has met all the conditions for being put into operation. This policy will help future projects to be of better quality and ensure the rights of home buyers. However, the regulation also poses challenges for investors in mobilizing cash flow to build projects.

Therefore, economic experts suggest that the Government needs to have measures to support investors, especially in procedures such as applying for licenses or borrowing capital, to both ensure sustainable supply and create a safe environment for buyers.

Forecasts, in-depth analysis and information on real estate market developments will be shared more specifically at VRES 2023, promising to help investors and businesses assess the market situation and develop appropriate business strategies in the period from 2024.