With $3.88bn invested, sector ranked second in FDI last year.
Real estate drew in $3.88 billion of registered FDI capital in 2019, ranking second after processing and manufacturing and accounting for 10.2 per cent of the total.
The Vietnam News Agency quoted the Ministry of Construction as reporting that the real estate market last year developed rather stably in terms of supply, transaction numbers, prices, outstanding credit, and foreign investment.
The Ministry predicted that “bubbles” in the market are unlikely in 2020.
However, it also forecast possible land price hikes in areas designated to become special zones or new residential areas with synchronous infrastructure, as well as in housing projects that are located in downtown areas, developed by prestigious investors, and with rapid construction progress and good infrastructure.
This is also the rule of the market, the Ministry noted.
Meanwhile, the market may witness a decline in certain segments due to supply-demand imbalances or difficulties in certain property projects, especially in the two largest metropolises of Hanoi and Ho Chi Minh City.