Real estate firms preparing to hibernate for winter - Viet Nam

**billnguyenrealestate** · 06-19-2008, 04:28 AM

Nguyen Tran Nam, Deputy Minister of Construction, said that he is not too pessimistic about the property market, but it is clear that real estate firms need to forage for a lot of food to help them survive until the market recovers.

The record high lending interest rate of 21% and the policy on tightening the monetary policy all have burst the bubble of the real estate market. Real estate developers have been worrying about the falls of the real estate market

**rehaankapoor26** · 08-18-2008, 05:26 AM

Thanks to choppy economic conditions, the real estate market continues to slide and some top builders expect a substantial dip in their sales this year. Mr. Niranjan Hiranandani, Managing Director, Hiranadani Constructions said, "Due to a slump in the real estate market, our forward budget planning has come down by 15%. Hence, by this year end, we expect our overall sales to dip by about 20% to 25%." Earlier this year, the company was expecting a rise in its budget by about 35%, but calculations have gone awry. However, he feels that the market dynamics are still strong and there are a number of opportunities available for the realty market to grow in the long term. Mr. Hemant Shah, Chairman, Akruti City believes that only after Diwali, the real estate market will start showing some signs of improvement.

**BlackJack** · 09-24-2008, 12:16 PM

Vietnam is one of the most attractive markets for real estate developers in Asia , foreign and local investors have said.
The investors represent 70 local and foreign real estate groups who are tracking developments and opportunities in Vietnam