Vietnam Property Market Overview 4Q20
The latest overview of the real estate market and the outbreak's impact on businesses.
Vietnam’s GDP was estimated to grow 4.48% y-o-y in 4Q20. This positive economic growth was bolstered by the strong containment of Covid-19 which coupled with the EVFTA effective from 01/08/2020, supported economic activities to return to normal.
In full year 2020, GDP grew 2.91% y-o-y. Although this was the lowest growth rate in 2011-20 period, it is considered Vietnam’s great success given the outbreak of Covid-19 globally. With this growth, Vietnam was among the world’s best performers in 2020.
Of the growth, the industrial and construction sectors rose the most with 3.98% y-o-y, followed by the agriculture, forestry and fishery sector with 2.34%. The services sector recorded the lowest increase with 2.34%, which was also the most modest rise in the 2011-20 period as Covid-19 has dealt a heavy blow to commercial activities and services. Download now.