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Green Real Estate – New Trends in Real Estate Market in Vietnam

In order to develop sustainable green property, enterprises must put the word "mind" on top.

In recent years, green real estate has become a new trend in investment activities of project owners. In Ho Chi Minh City, this segment is expanding because it brings many benefits to customers.

Not many real estate projects green

At present, the green real estate model in Vietnam has not been exploited much because our country is heavily influenced by climate change. In fact, there are only 150 green real estate projects in Vietnam as well as in the process of construction and design. According to the Green Building Council statistics, Vietnam is much slower in terms of the number of green buildings as well as in training and awareness.

Our country has not many green real estate models
Our country has not many green real estate models, estimated only 150 green real estate in the country.

The number of LEED certified works in Vietnam in 2017 is less than 3%. Meanwhile, worldwide, with over 36,000 commercial projects and over 38,000 housing projects in the world are green standards, in Vietnam, up to now, fewer than 100 green buildings are developing at different stages.

The real estate companies in Vietnam involved in construction of green buildings is also quite modest. The number of green-certified commercial housing projects counts only at the fingertips. In Ho Chi Minh City, there are only a few projects such as Nam Long Ehome 5, Diamond Lotus Riverside, Phuc Khang’s Rome Diamond lotus, Tien Phat’s Ascent Thao Dien, or the northern area with some projects such as Ecohome, Forest In The Sky is the green real estate recognized.

Talking about the reason green real estate is too little in the market, Mr. Do Huu Nhat Quang, Director of GreenViet pointed out: Green buildings can save electricity, water, building materials, energy compared regular projects and longer project life. But many businesses are afraid to make green property because of the high initial costs; There is no real demand from customers and no policy support from the Government.

Therefore, businesses that make real estate green in the real estate market today is both opportunities and challenges are quite large. Most of them follow the path of green real estate, businesses have to put the word on the heart instead of profit because green real estate model is not really popular in Vietnam market.

In order to develop sustainable green property, enterprises must put the word "mind" on top.
In order to develop sustainable green property, enterprises must put the word “mind” on top.

Is green property a new trend in the real estate market?

Le Hoang Chau, Chairman of HoREA (HCM City Real Estate Association), said that before the current real estate market, real estate businesses have to make a difference so that they can go to the market for a long time. Therefore, green building projects, focusing on utilities, human health and the environment are becoming the only choice of the real estate market in Vietnam in general, HCMC in particular. .

According to Chau, Vietnam is the climate change country, most influenced by genius, so the development of green real estate is also limited the impact of this change. “In the future, green property model will become the trend of real estate market development,” said Chau.

Ms. Luu Thi Thanh Mau, General Director of Phuc Khang Corporation, said that the new lifestyle is not only a green building, but also a supportive ecosystem when the green trend is becoming the guide of the global economy. The fact that some Vietnamese investors develop green real estate means they are approaching cultural thinking from advanced countries.

“However, making green property is different, not just sustainable development, but responsible development for the community. In that, developers have to put green building to new heights, criteria of living environment quality of residents must be placed on top, “she said.

Bringing green building to new heights, the quality of living environment of the residents must be placed on the forefront of the nature of green real estate.

According to experts in the industry, it is not the addition of green criteria to a project that can be considered a “green building” or ecological project that requires green building from the inside of the product. Because consumers are now consumers, they are focused on the core quality of the product. Buyers will care about everything from design, construction, use of materials, finishing to the work of the future.

In Vietnam today, there are quite a lot of green standards in circulation such as: Edge (of the IFC organization of the World Bank); Green Mark (Singapore), Leed (USA), Lotus … Each of the criteria has weak points but each focus on the real estate must ensure the basic elements such as: Location of sustainable construction; efficient use of water and energy; using materials and resources that are environmentally friendly … This means that if you build a green building, it must be green from within its “interior”.

According to Mr. Pham Lam, General Director of DKRA Vietnam, one of the three priority criteria of customers when choosing to buy real estate is the landscape of living environment associated with the building such as green trees, safety, security, utility , manage.

At present, the agencies and agencies are encouraging real estate companies to green projects to serve the needs of living quality of people and at the same time behaving civilized environment. In May 2016, the Ministry of Construction issued Decision 419 on the “Green Building Action Plan for Green Growth up to 2020 with a vision to 2030”. According to this plan, by 2030, 50% of large and medium cities will meet green urban criteria. HoREA President also emphasized that the association always encourages and encourages businesses to green property.

However, Hoang Tung, deputy director of the Ho Chi Minh City Department of Planning and Architecture, said that the only incentive for green building development is that there are no results that require specific government support policies. According to him, the business alone can not do but need the coordination of government and people to succeed.

He proposed, if the investor committed to build a park, ensure the environmentally friendly standards and standards, then immediately add space floor, enjoy preferential policies. This will be a problem for investors to consider green building, bringing double benefits to investors and communities.

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