Vietnam’s housing industry has much potential to develop, RNCOS, a US market consulting service company, has said.
In a new report released on May 13 on its official website, RNCOS underlined that Vietnam’s housing industry is characterized by massive housing shortage and offers ample scope for developments.
Vietnamese housing market is on the urbanization process with an increase in the number of households, the reports said.
The report also noted that majority of Vietnamese people do not have their own permanent houses and more than 70 percent of the total resident households nationwide are living in temporary houses without proper housing facilities.
The company estimated that Vietnam will need nearly 20 million houses to meet the country’s increasing demand.
One of factors hindering the industry’s development is the country’s limited financial capacity, according to RNCOS’s experts.