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Hanoi real estate - rich potential market   2008-07-18 - VNA

Hanoi s real estate remains a rich potential market and investors can be confident of the rehabilitation and prospect of this market, according to the US real estate service firm, CB Richard Ellis (CBRE). 

At a press conference held on July 17 to review the Hanoi real estate market in the first months of this year, CBRE said that the prospects for long- and medium-time development of the real estate market in Hanoi and other Vietnamese major cities are fairly good. 
The land prices in Hanoi ’s central area remain stable, while the prices in other areas have reduced since the first quarter of this year, according to the firm. 
It noted that temporary slowdown of real estate transactions has been seen in some areas due to the impacts of the slowing global economic growth, inflation and high interest rates of bank loans. 
Results of a recent survey by CBRE showed that investment in apartment buildings in Hanoi’s central areas has reduced slightly compared to the first quarter of this year, while investment projects in other areas also decreased. 
Consequently, the total investment channeled to the real estate market in the 2 nd quarter reduced 15 percent compared to the first quarter. 
CBRE said that the stricter of credit control has heavily impacted on domestic investors and those who have demand for loans to buy houses.

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