Property market to see new development trends in 2019
Several new development trends are emerging in the real estate market, which is expected to remain strong in 2019 since the economy continues to grow robustly and there is a lot of investment flowing into infrastructure.
Flexible workspaces are becoming more and more popular. (Photo: VNA)
HCM City (VNA)ꦐ – Severalnew development trends are emerging in the real estate market, which isexpected to remain strong in 2019 since the economy continues to grow robustlyand there is a lot of investment flowing into infrastructure.
According to realestate and investment management services firm Jones Lang Lasalle (JLL), in2019 the mid-priced and affordable segment will dominate the market. In HCM City, thesupply of finished apartments in all segments has reached 160,000 units,corresponding to a rate of 17 apartments/1,000 people. At the same time,flexible workspaces are becoming more and more popular around the country,largely due to the limited supply of traditional office space in sought-afterlocations. The market is stillin its infancy though the first serviced office, Regus, has been operatingsince 1999. Flexible space isoften considered the answer to small companies and start-ups’ needs rather thantraditional offices because of reduced costs due to sharing space andfacilities. With the stronggrowth in e-commerce, JLL predicted technology companies would continue to huntfor ideal office buildings and quickly become the main tenant category,providing an opportunity for investors who can build offices in time to keep upwith demand. For technologycompanies, their office location must be able to attract talent and haveconvenient transportation with live-work-play facilities integrated into thesurrounding environment. “The logisticsindustry will grow along with e-commerce,” Stephen Wyatt, general director ofJLL Vietnam, pointed out. In Vietnam, onlineshopping activities are increasing in step with the rapid growth of smart phonesand 4G networks. There is thusincreasing pressure on logistics systems, supply chains, distribution andretail channels, and factories and warehouses. Compared to othercountries in its neighbourhood, Vietnam’s logistics market is still in itsinfancy. The final trend, a“hotel” lifestyle, is expected to be popular with millennials, or people bornbetween 1980 and 2000. People of thisgeneration are unlikely to stay with their parents and prefer to have their ownspace.-VNA
The property market awaits technical standards for the development of small apartments, which may become a trend to deal with the housing crisis caused by the country’s rapid urbanisation.
The real estate market is expected to gain momentum in 2019 thanks to the heat from several billion-USD property projects that received investment certificates in previous years.
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Flexible workspaces are becoming more and more popular. (Photo: VNA) 
