The property market in HCM City in the last two months of 2017 will be difficult to happen real estate bubble, that is the latest assessment of the Association of Real Estate Ho Chi Minh City.
HCMC property market is still in the cycle of recovery and growth
According to the HCM City Real Estate Association, the property market is still in the recovery and growth cycle but will continue to slow down compared to 2016. The forecast for 2017-2020 will be the major adjustment to address the current supply-demand deviation, helping the market return to a healthy and sustainable development, will have a strong shift to the mid-priced property market to money meet needs of the majority of middle-income people, low-income urban.
One of the noteworthy points is that the city is researching to shift the use of about a third of the city’s agricultural land to industrial, service and urban land; intelligent urban construction … is the basis for the development of the property market in the medium and long-term.
Difficult to occur “bubble” real estate
According to the association, with a population of more than 93 million people are in the population stage of gold. Of those, nearly 60% are under the age of 35, with about 50 million internet users, accounting for 53% of the population (46.64% higher than the world average). Real estate online takes advantage of information technology in the digital era.
The middle class is growing strongly. For Ho Chi Minh City, the per capita GDP is expected to reach $5,000 by 2020, which will contribute to increasing demand for housing and property market development. Development infrastructure to promote the property market in Ho Chi Minh City
Ho Chi Minh City Real Estate Association also said that M & A activities will be stronger than before, partly thanks to the implementation of the project. Resolution of the National Assembly on piloting bad debt.
Foreign capital inflows and remittances continue to be an important source of investment in the economy and the property market in the near future.
There are no real estate bubbles in the last two months of 2017 to the Lunar New Year and 2018, the association said: “It is unlikely, due to intervention, adjustment date The more time and efficiency of the state, the enterprises are also trying to restructure the investment, reshape the product to meet the needs of the market, and secondary investors are more alert, am understand the market more.
In other words, through the experience of real estate market crises, subjects are smarter: Smarter states, smarter investors, smarter banks, smarter consumers. “.
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