return icon

VN real estate not hit hard by Covid-19

The Ministry of Construction (MOC) said though the epidemic has affected the real estate market, causing a decline in supply and the number of transactions, real estate prices in some localities are still on the rise.

The ministry’s Q1 report shows that many real estate firms have retained 50 percent of staff for their fundamental operation, while many projects have been suspended.




In the first three months of the year, about 80 percent of real estate trading floors had to shut down or halt operation. As there were nearly no transactions, many brokers became redundant.

It is estimated that only 200 trading floors still operate, but at a moderate level. Durng the social distancing days in April, real estate developers and trading floors could not put products up for sale.

To settle the problem, some trading floors, including Vingroup and Cen Group, have launched online trading services. However, the online trading floors just serve as places for real estate developers to post information and introduce their projects.

It is estimated that only 200 trading floors still operate, but at a moderate level. Durng the social distancing days in April, real estate developers and trading floors could not put products up for sale.

However, commenting about the real estate market performance, MOC affirmed that the real estate market has not been affected seriously by the epidemic. The influences have been seen only in some market segments.

Regarding housing development projects, in Q1, 56 projects with 20,536 apartments were licensed. There were 997 projects with 233,313 apartments under construction, while 55 projects with 18,061 apartments were completed.

The supply of houses in Q1 decreased in comparison with the previous quarter and the same period last year. In Hanoi, the number of apartments to take shape in the future, eligible for sale, increased considerably thanks to the high number of products from Vinhomes’ huge projects.

In the long term, MOC predicted the supply would decrease.

As for tourism and resort real estate projects, five projects with 4,512 condotels and 476 resort villas were licensed, while 48 projects with 18,549 condotels and 3,359 resort villas were under construction.

Some real estate firms still continue their production and business activities. However, the progress and workload were greatly affected by the social distancing policy and the measures to prevent the virus spread.

MOC reported that 13,042 transactions were carried out successfully, including 1,167 in Hanoi (38 percent of Q4 2019) and 2,816 in HCM City (55 percent). The number of successful transactions in Q1 2020 was just 14 percent of total number of products available, a 4-year low which is just 40 percent of the same period last year.

Meanwhile, tourism and resort real estate have been in ‘hibernation’ with zero revenue of businesses in the sectors.

Surprisingly, house prices have still been increasing. In Hanoi, apartment prices have increased by 1.02 percent, while in HCM City, the figure is 3.5 percent.

Le Ha 


Strong price cuts predicted for VN real estate market

Strong price cuts predicted for VN real estate market

After a tough 2019, the real estate market has continued experiencing many hardships because of Covid-19.

Measures fit for real estate recovery

Measures fit for real estate recovery

The ongoing coronavirus pandemic has upended economies worldwide, and Vietnam must take urgent measures to handle this period of instability.


New FDI approvals plunge in Q1/2023

Although the number of new FDI projects approved in the first quarter this year grew over the same period in 2022, their capital pledges edged down.

Culture Trip shares surprises while enjoying beer in Vietnam

Vietnam is one of the leading countries in beer consumption in Asia. Bia hoi (draught beer) is a favorite choice of many Vietnamese on hot summer days. But do foreign tourists know how to drink bia hoi like a local?

Vietnamese students win awards in Stanford University competition

Two first-year students from Vietnam are among the winners at Stanford University's TreeHacks - a technology competition for students. The team developed a VR glass device for debate training.

Vietnam enters Top 5 destinations for summer vacation

UK travel magazine Expedia has listed Vietnam among its Top 5 international destinations that visitors should visit this summer.

Five caves discovered in Quang Binh province

Five caves were recently discovered in Lam Hoa commune of Tuyen Hoa district in the central province of Quang Binh by experts of the British Royal Cave Association.


PM orders close coordination to remove obstables to property market


Top Vietnamese, Chinese legislators hold online talks

CAAV to trial biometric authentication at Van Don airport

Following a test operation at the Cat Bi International Airport in Haiphong City, the Civil Aviation Authority of Vietnam (CAAV) will introduce biometric authentication technology at the Van Don International Airport in Quang Ninh Province.

Vietnam considers unilateral visa waivers for more countries

The government is going to ask the National Assembly to consider granting electronic visas to citizens of all countries and territories.

Places not to be missed when traveling to Can Tho

Although Can Tho province has seen fast economic growth, it still retains the typical cultural features of the Mekong River region. Here are its most attractive places:

Mui Ne among world’s top 5 destinations for hot air balloon ride

Mui Ne, a coastal fishing town in the southcentral province of Bình Thuan, has been named among the top five best destinations for a magical hot air balloon ride, according to

Medical-equipment license applications still being processed

About 7,000 dossiers applying for licenses for circulation of medical equipment are still unhandled. These include dossiers submitted a long time ago.

VN warns against downgrading COVID-19 status due to risk of new variants

The Ministry of Health has stated that while the COVID-19 situation is currently under control within the country, the risk of new, more dangerous variants emerging is too high to downgrade the status of the virus yet.

Appeals trial of chairman of Alibaba real estate scam delayed until May

The HCM City People’s Court has decided to delay the appeals trial of Alibaba Company owners and employees who were earlier found guilty of property fraud and money laundering.

Thanglong Warriors, Rohto Saigon Heat win VBA 3x3 tournaments

Thanglong Warriors proved their power with the second title of the VBA 3x3 Prime 2023 on March 26 in Nha Trang, Khanh Hoa Province.