Vietnamese remain interested in properties despite a recession

A recent survey has found that people want to buy land and houses even though the property market is stagnant. The study of 1000 people completed by the property purchase and sell website Batdongsan at the beginning of this year found 87% of those already owning three or more properties, 79% holding two and 66% of those owning one want to buy more next year. Among them, 46% do not take ownership of any houses or land lots. Some 60% of respondents wanted to purchase property assets next year for investment purposes. 

Dinh Manh Tuan, a regional director for Batdongsan.com, predicted people in other regions, like Singapore, Thailand, Malaysia, and Indonesia, buy property assets for residential purposes, not investments. But in Vietnam, a survey by the Viet An Hoa agency found locals tend to regard property assets as a measure of their life's achievements. Coming to 30, they often put much effort into buying their first home. By age 40, people prefer to have 3 or more properties at 50. 

Huynh Phuc Nghia, a GIBC's senior consultant, called the statements property investment has increased as an obsessive home-owning syndrome.

Why do people want to invest in property assets?

There are multiple reasons for investing in property assets, but 3 common reasons, such as: 

• The first is strictly economic and intended to make money based on purchasing and selling out quickly, so buyers tend to use leverage. 
• The next is an investment purpose of achieving long-term cash flows, and these buyers tend to rent out and are not interested in selling out.
• The last common reason is buying property to use as collateral, flaunt it, or use it as leverage to achieve significant financial goals. This group often consists of institutional investors.

Read more: Villas for sale in Vinhomes Ocean Park enter the market with a reasonable price for investors to take ownership. Take advantage of this time to get the investment potential.