Property market expected to be stable in 20183

This was revealed in the Top 10 Reputable Property Developers, Building Material Companies and Contractors 2018, which was announced by Viet Nam Report and online newspaper VietnamNet on Tuesday.

The surveyed top 10 firms said real estate developers would enjoy opportunities of high economic growth rate, newly-signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership trade agreement to attract more foreign investment and approval for establishment of special administrative economic zones.

However, the survey also said local property developers would face challenges of macro-economic instability in the region, State divestment making capital dispute more severe and virtual money affecting the market and condotel, officetel and hometel segments with potential risks due to lack of clear management policies.

The firms said special administrative economic zones would continue to be promising lands to lure large real estate projects.

The estate, construction and building material sectors will be linked to the Fourth Industrial Revolution.

The survey revealed that in addition to traditional marketing methods, customers were increasingly getting access to property information through internet.

More than half the surveyed people said they sought information on websites specialising in real estate and on social networks.

When the requirements of home buyers become stricter, information in the market will become more transparent. Investors and contractors will pay attention to the sustainability and life span of projects and construction buildings.

According to experts, the quality of estates in 2017 improved due to the pressure of competition. They said property developers were required to improve their ability while enhancing professionalism and quality in projects.

Last year, the real estate market saw positive changes in all segments. In Ha Noi and HCM City alone, there were 64,263 successful deals. A range of new products, such as condotel, officetel and hometel were developed, making the real estate market more attractive.

According to the report, prestige was one of the top three reasons for customers in choosing a product in the real estate sector.

Vingroup and Novaland top the list of the 10 most reputable property developers in 2018.Vingroup has been leading the market with diversified products such as apartment buildings, offices, resorts, shophouses, condotel and officetel.

Novaland, on the other hand, has been a popular brand in the south, with strong financial abilities and large land funds.

Coteccons Construction Joint Stock Company and Hoa Binh Corporation occupy the first and second positions in the list of top 10 reputable contractors in 2018.

Hoa Phat Steel Joint Stock Company and Viglacera Corporation Joint Stock Company top the list of the 10 most reputable building material companies in 2018. Both are large-scale companies in the building material sector with hundreds of construction projects every year throughout the country.

The award ceremony will be organised on April 18 at the Viet Nam National Convention Centre in Ha Noi. — VNS