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In an interview with the New York Times, one of Vietnam’s biggest real estate agents said the market for homes is «still very low».
The owner of Real State, a company that owns real estate in Vietnam, said the real house market was «still low».
Real State’s chairman, Nguyen Chi Huynh, said in the interview that Vietnam’s property market is still «in a very delicate phase».
He said the «biggest problem» in the market was the construction sector, which he said «can’t recover» due to «government pressure».
Real state said it had sold two houses in Hanoi since November, and that in the past month, it had increased its number of sales in the capital to around 20,000 sq metres.
Real State said it was not selling because of the «strong pressure» it faces from government authorities, but because of its «sales-driven» business model, and the «high demand» in Vietnam.
The company’s CEO, Nguyen Chien Hoan, said he thought Vietnam was a «very important market» for the firm.
He said Real State was «happy» to have been able to sell the homes at prices of $4.5 million to $4 million a house.
He added that the company had been able sell its homes in Vietnam «for the last two years, and we will continue to do so».
«I think the real property market in this country is in a very fragile phase, and it is important for us to sell as many properties as possible,» he said.
He was not clear on what factors were causing the «weak market».
Real House declined to comment.