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Smart Real Estate To Be Future Market Trend

Smart Real Estate To Be Future Market Trend

 Original Article on: vietnamnet.vn 

Smart Real Estate | The Prime Minister’s approval of a proposal on Vietnam’s smart city development to 2025 with a vision to 2030 will strongly affect the market and form a smart property trend, held experts at a conference in Ho Chi Minh City on August 11.

Smart Real Estate

Smart Real Estate (President of the Vietnam Chamber of Commerce and Industry (VCCI)) Vu Tien Loc said that recently,

Foreign investors have made strong investment in domestic real estate market due to their strength in capital, technology and management.

The domestic firms have understanding advantages the local law and culture, foreign and domestic businesses should cooperate for mutual development.

Smart real estate is not a playground for short-term business, he stressed.

Representatives from the Housing and Property Market Management Agency under the Ministry of Construction asserted that;

Smart city is a development trend of the real estate market in the future with the formation of online trading floors as well as the application of automation inside apartments.

Ngo Dong Hai, deputy head of the Party Central Committee’s Economic Commission said that;

The rise of the fourth industrial revolution,  the Vietnam’s smart cities are young urban areas in scale and development level.

Hai said that the demand of people has become increasingly diverse, thus businesses should thoroughly grasp their needs.

He highlighted the need for combination of FDI firms’ strength in capital, technology with the law and domestic enetrprises understanding.

The smart urban areas development, houses and residential areas as well as the solving of traffic, energy and environment problems.

Nguyen Hoang Minh, Vice Director of the State Bank of Vietnam’s Ho Chi Minh City branch noted that;

By the end of July this year, the banking sector has lent 208 trillion VND even more to the real estate sector.

In the recent three years, foreign remittance sent to Ho Chi Minh City was 5-5.5 billion USD each year, of which, 21 percent was invested in real estate.

Phan Truong Son, head of the Housing and Property Market Office of Ho Chi Minh City revealed that;

In the next 10-15 years, the city will focus on developing smart urban areas because the green architecture adaptable to climate change.

As a result the social housing and apartment buildings will continue to be expanded.-VNA

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