Vietnam's real estate market unlikely to recover until next year

Experts have warned that Vietnam's real estate market will have to wait until the end of 2024 to recover despite government efforts to remove challenges. Nguyen Quoc Hiep, chairman of the Vietnam Association of Construction Contractors, said the real estate market will continue to face hurdles due to the lack of access to capital, credit tightening, legal bottlenecks, and delays in bond payments. Speaking at a forum, Nguyen said the Decree 08 recently issued by the government aimed at removing difficulties for the corporate bond market has not been able to regain investor confidence. Do Viet Chien, deputy chairman of the Vietnam Real Estate Association, said property firms must be well prepared as the market will continue facing obstacles moving forward.