The laws relating to the property market, such as the Land Law, Housing Law and Real Estate Business Law, are expected to support the sector and the overall economy too.
Viet Nam''s real estate market needs stricter regulations to standardise real estate brokers for the domestic property market to operate transparently.
The Viet Nam Real Estate Brokerage Association forecasts the housing real estate market in 2021 to have more optimistic developments due to the effective prevention of the COVID-19 pandemic and domestic economic recovery momentum.
The industrial market is the only real estate sector that has enjoyed positive progress in both rental rates and occupancy rates during the COVID-19 pandemic.
Real estate brokerage activities should be professionalised and often individual sellers need better training, especially when the market is in need of momentum after the COVID-19 pandemic, experts said.
More than 300 real estate brokerage exchanges, or one third of these firms in Viet Nam, have closed recently due to low supply and the impact of the COVID-19 epidemic.
The domestic real estate market in the fourth quarter of this year is forecast to see the strongest increase in transactions in the year, higher than the transaction volume in the same period of 2017.