Sales offers dominate Vietnam real estate posts on social media in Jan

Vietnam recorded 8.6 million social media posts related to real estate in January, of which 8.54 million, or 99.3%, were related to sales amid low activities in the sector since the second quarter of 2022.

In its latest report, local social listening consultancy Reputa said among the more than 61,382 posts by buyers, the most popular enquiries were business locations with 10,087 posts, or 74% of the total, apartments with 11%, residential land 9%, and agricultural land with 2%.

Regarding companies, Vingroup remained the most popular with a score of 155.04 in terms of sentiment, number of discussions, interactions, and sharing of posts. It was followed by Novaland, Nam Long Investment Corporation, City Land Co., Ltd, and Ecopark Corporation.

The most trending real estate project on social media was Vinhomes Co Loa Hanoi in the capital city, invested by Vingroup. The 384.8-hectare project, featuring villas, shophouses, and apartments, was kicked off in the fourth quarter of 2021 and is expected to be completed in 2025.

Other popular sites were Sailing Club Residences Ha Long Bay invested by Bim Land, Regal Pavilion Danang invested by Dat Xanh Mien Trung Group, and Sonasea Van Don Harbor City invested by C.E.O Group JSC.

Reputa's 2022 report showed similar results. Analyzing 206.5 million posts, Reputa noted buying accounted for only 1.52 million posts, or nearly 1%. The most popular enquiries from buyers were about business locations with 68% of the total, residential land with 16%, and apartments with 8%.

Vingroup, Nam Long Investment Corporation, Novaland, and Ecopark Corporation were the most popular realty firms on social media last year.

2022 was a crisis year for the Vietnamese real estate market and businesses. Many developers had to downsize their operational scale, stop or postpone investment activities, project implementation and initial public offerings (IPOs) due to capital constraints and poor sales.

The tightening of the corporate bond market following the arrests of Tan Hoang Minh and Van Thinh Phat leaders over bond issuance violations, and the promulgation of Decree No. 65 in September 2022 with more stringent requirements on private placement of corporate bonds made companies hesitant to issue bonds.

According to the Ministry of Construction, the number of real estate companies filing for bankruptcy last year increased by 40% year-on-year.