Assessments and forecasts of Vietnam’s real estate market

Abstract

The study aims to assess the real estate market situation in 2022, forecast its prospects, and propose some solutions for stable and sustainable development in 2023 and the following years. The real estate market plays an important role in stabilizing the macro-economy and promoting growth. Real estate transactions were active at the start of 2022, but due to the expiration of the credit room limit for real estate loans in early April, the number of transactions on the market has gradually decreased by the end of 2022. Housing demand has fallen to its lowest level in the past 5 years. Housing prices are also quite high compared to people's incomes. In 2023, the real estate market may recover gradually but at a slow pace. In order to promote the recovery of the real estate market and safe, healthy, and sustainable development, it is necessary to complete policies and laws on the real estate market; publicize and ensure the transparency of real estate information; diversify real estate capital sources and complete real estate tax policies; strengthen the market management role of state agencies.