return icon

Investments are flowing into proptech

As a growing number of companies in the real estate industry are embracing technology to promote their sales since the pandemic, investments are flowing into proptech start-ups to capture the opportunity.

The application of proptech is increasingly popular, especially since the COVID-19 pandemic. — VNS File Photo

According to property services company Jones Lang LaSalle (JLL), Viet Nam’s real estate industry was seeing an increasing wave in applying technology, most popular in residential and commercial sectors.

Proptech proved their advantages and efficiencies in promoting sales and increasing interactions between buyers and developers in the COVID-19 pandemic with social distancing measures in place.

JLL said that the Government should raise policies to create favourable conditions for the development of technology start-ups.

JLL pointed out that foreign-invested companies were dominating the proptech start-up ecosystem in Viet Nam, accounting for 80 per cent of the total number of proptech firms.

Many proptech enterprises made their debuts from the beginning of this year.

In early April, an app named Dat Vang Viet Nam (Golden Land Viet Nam) developed by Vietnam Golden Land Technology and Real Estate Investment Joint Stock Company debuted with an investment worth US$500,000 from SGROUP, which aimed to become an online real estate platform in the next three years incorporating technologies like GIS and 360-degree virtual tours.

Other proptech platforms recently launched were ECOE, Propcom, Gaapnow, Meey CRM and Meey Land.

According to FinREI Investment Joint Stock Company, a real estate technology start-up, there are more than 50 proptech companies operating in Viet Nam, which are transforming how properties are developed, sold and managed.

Tran Van Hao, technology director of Vietnam Golden Land Technology and Real Estate Investment Joint Stock Company, said the birth of real estate apps was inevitable and the trend would continue to flourish, powered by a young and tech savvy population.

“I think the race in applying technology in real estate will be really fierce in the near future,” Pham Lam, founder of DKRA Vietnam and Houze ecosystem, said at Houze Day Real Estate Technology Forum 2021 held in mid-December.

Statistics of Fintech Global showed that a sum worth $7.1 billion was poured into proptech globally as of the third quarter of 2021, 122 per cent higher than that of the full year of 2020.

According to Savills Viet Nam, Viet Nam’s real estate market would continue to grow, especially in major cities including Ha Noi, HCM City and tourism cities. Savills predicted that there would be more investment flow into proptech to capture the opportunities as well as promote the market development.

The Viet Nam Real Estate Association forecast that Viet Nam’s property market would reach more than $1.23 trillion by 2030, accounting for 22 per cent of the economy’s total assets. 

Source: VNS


Fire engulfs ancient house inside Quoc Tu Giam relic site in Hue City

A building in the UNESCO-recognised Quoc Tu Giam (Imperial Academy) relic in the imperial city of Huế was seriously damaged by fire on Wednesday afternoon.

Largest travel expo to kick off in HCM City in September

The International Travel Expo in HCM City, the largest travel exhibition in Vietnam, will be held at the Saigon Exhibition and Convention Center (SECC) in District 7 in September.

Centralised bidding should be implemented to solve drugs and medical supplies shortage

A sudden increase in the number of patients has caused overloading and a shortage of equipment, medical supplies and chemicals at some central hospitals.


Denmark extends agri-food expertise to Vietnam

The Moffatts shoots video to promote the beauty of Vietnam

Canadian pop/rock band The Moffatts has visited Sa Pa, a famous tourist destination in the northern province of Lao Cai about 320 kilometres from Hanoi, and shot a music video to promote tourism.


Vietnam sends nearly 1 million guest workers in 2013-2021

Viettel wants to make chips amidst global shortage

Vietnam’s telecom giant Viettel Group has proposed developing and manufacturing chips for domestic and international markets.

Nguyen Danh Huy appointed as Deputy Minister of Transport

Prime Minister Pham Minh Chinh has signed a decision to appoint Mr. Nguyen Danh Huy, head of the Planning and Investment Department under the Ministry of Transport, as new Deputy Minister of Transport.

FLC, HAI face trading suspension

The Hochiminh Stock Exchange (HOSE) will ban FLC Group (FLC) and HAI Agrochem JSC (HAI) from trading their shares due to delays in releasing their audited 2021 financial reports.

Mid-Autumn Festival toy market in Hanoi crowded on evenings

The Mid-Autumn Festival is three weeks away, but many families and young people have flocked to Hang Ma Street (Hanoi) to go for a walk and buy toys.

Vietnam among best global destinations for foodies: Skyscanner

Skyscanner, a travel site based in Scotland, has named Vietnam among the world’s six best destinations for food lovers, alongside Mexico, India, Thailand, Nepal, and Singapore.

Vietnamese rapper 16 Typh hailed by famous hip-hop magazine

The prestigious music magazine HipHopDX has praised the music video of the hit “Million Dollar Boy” by Vietnamese rapper 16 Typh.

Vietnam's top tennis player enjoys record high in world rankings

Vietnam’s top tennis player Ly Hoang Nam has passed a milestone in his career when rising to the world’s No.332 in the latest Association of Tennis Professionals (ATP) rankings.

Vietnamese cultural village to be built in Korea

A Vietnamese cultural village will be built in the county of Bonghwa, Gyeongbuk province, the Republic of Korea, heard a recent meeting between the county’s mayor Park Hyun-guk and Vietnamese Ambassador Nguyen Vu Tung.

PetroVietnam proposes US$19 billion oil refinery complex and national oil reserve

The Vietnam Oil and Gas Group (PetroVietnam) has proposed to the Government an investment in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products in Long Son Petroleum Industrial Park.