First study on consumer sentiment in real estate in Vietnam released

Up to 92 percent of the respondents said they intend to purchase a home in Vietnam and more than half of them wish to buy a home within the next two years, according to a study by property portal Batdongsan.com.vn, a member of Singapore-based property technology group Property Gurus.


Illustrative photo. (Source: VNA)


Hanoi (VNA) – Up to 92 percent of the respondents said they intend to purchase a home in Vietnam and more than half of them wish to buy a home within the next two years, according to a study by property portal Batdongsan.com.vn, a member of Singapore-based property technology group Property Gurus.


The Vietnam Consumer Sentiment Study was announced by Batdongsan.com.vn in a virtual event on February 24. It is the first of its kind in Vietnam looking into consumers’ sentiment in real estate.


Before Vietnam, similar reports have been released by the group in Singapore, Indonesia, Malaysia and Thailand since 2009, said CEO of Batdongsan.com.vn Robert Vu.


In Vietnam, the study had been conducted online since last November, attracting 1,000 respondents. It aims to measure consumers’ perception on the property market and their expectations about the market outlook and future trends. The study will be released twice a year.


Vu said Vietnamese are now paying more attention to green living space and want to own a more spacious house. Many of them even want to move to suburbs or less-crowded areas. Hanoi and Ho Chi Minh City are the top choices among potential homebuyers, he added.


The study also shows that 52 percent of the respondents find property prices in Vietnam too high and the high prices remain the biggest challenge to potential buyers. Up to 72 percent believe that the prices are going down because of COVID-19, while 31 percent expect that property prices will continue to rise by over 10 percent within the next 5 years.


About 55 percent are living on a residential land and 25 percent, in a condo apartment.


Source: Vietnam Plus