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Vietnam Real Estate Market News

Vietnam Business » Vietnam Real Estate Market News » VietNam real estate martket has a lots of chances for development

VietNam real estate martket has a lots of chances for development

During the prosperous period of Vietnam’s realty (2003-2006), real estate companies mushroomed. However, almost all of them were land and housing consultancy offices and owners were fresh from school. By the time the form of land and housing consultancy office closed, they opened real estate companies. Thus, their capacity is very weak particularly in foreign langue, analysis and communication skills.

According to real estate experts, Vietnam’s realty market is full of advantages for development such as young population, the developing economy and the government’s appropriate policies. However, the management, exploitation and operation of real estates are mostly left open. The limits make domestic companies find difficult in taking command of the market, as a result conceding it to foreign companies and groups.        The Real Estate Association said that domestic realty companies are currently able to receive only small and separate works. The weakness of domestic real estate service providers is also reflected in management, operation and contact with clients. In addition, their prestige is not enough to lure and create faith for investors. Many analyzers said that the fluctuations and deviatory development of Vietnam’s real estate market during the past time are attributed to the weak qualifications of manpower, who have not been trained professionally and have no long-term business strategy. Otherwise, investors have not been interested in services of private price assessment units. The reason is due to the unprompted training as well as price assessment during the past time. Real estate businesses offer prices by themselves and don’t care any rule or standard. The prices later are raised by real estate brokers, resulting in the continuous hike of land and housing prices.

Vietnam Business And Financial News Network. Source [vcci]

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