The Vietnamese property market is expected to slow down, with prices starting to drop by the end of this year and hitting the bottom by mid-2021, creating opportunities for home buyers sitting on cash, experts have forecast. The country’s property market is expected to slow down with prices starting to drop by the end of this year and hitting the bottom by mid-2021. “Housing prices will begin to plummet by the end of this year and bottom out by mid-2021 when the [COVID-19] pandemic has impacted almost every sector, especially the housing market,” Tran Khanh Quang, general director of Viet An Hoa Company, said. Since the second wave of the pandemic began late last month, investors’ confidence has once again weakened as property sales dived and incomes were hit hard. “Investors have to wait and observe the market,” he said. “The financial market has faced fluctuations since the beginning of the year when the outbreak started. “A large amount of long-term cash flow is still waiting for good prices to buy. “From the end of the year to the first half of 2021 will be an opportunity for home buyers. The most affected segment is the higher end.” Experts said… Read full this story
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