English
Recently, more companies have tried to occupy land lots for developing projects. Jeremy King, executive director of Knight Frank Vietnam, shared his views on the last upbeats of residential segment in Ho Chi Minh City.
What is your opinion about the land for residential real estate in Vietnam. Is it limited?
Currently in Ho Chi Minh City housing density is quite high. This is a function of affordability in terms of both household income and the price of accommodation. As incomes grow there will continue to be demand for new housing. This demand will underpin the residential property market in the longer term.There will also be growing decentralisation to more affordable locations on the fringe of the city or adjoining provinces. Overall, we are of the opinion that the residential market in Ho Chi Minh City is near the low point in the cycle but the recovery is dependant upon many economic factors including inflation and interest rates. No one can be a captain of a market where the forces of supply and demand determine price and the allocation of resources.
(VIR)
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