65% of Vietnamese survey respondents seek to buy properties within a year

As many as 65% of 1,000 Vietnamese survey respondents sought to buy real estate properties in a year (from H1/2023 to H1/2024), leading property listing website Batdongsan.com.vn said Tuesday.

The website, acquired by Singaporean proptech firm PropertyGuru, revealed the survey results at the Vietnam Real Estate Summit that it organized in Hanoi. The survey respondents are PropertyGuru's customers.

It said that among the property seekers, 60% aimed to make purchases for investment purposes, 30% were targeting bigger living spaces for their families and themselves, and 22% sought to get a property closer to their workplace or important services like schools.

The survey found most of the property seekers preferred empty land lots (33%), followed by private homes (26%), apartments (24%), shophouses (9%), and villas (6%).

Addressing the summit, Batdongsan.com.vn deputy CEO Nguyen Quoc Anh highlighted an upcoming trend in the real estate market was investors and property buyers becoming more fastidious as a result of increased information access.

Commenting on the recently-approved amended Law on Real Estate Business, Anh said the rule that project investors can collect no more than 5% of the total value for the sale or lease of built and to-be-built properties would strengthen the rights of home buyers.

However, the rule would also make it more difficult for project investors to mobilize capital. Hence the government should provide more support for project investors, he added.