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The Vietnamese Real Estate Sector on the Eve of Changes - Real Estate Brokerage in Vietnam against the Polish Experiences

Author

Listed:
  • Iwona Foryś

    (University of Szczecin)

  • Nguyen Minh Ngoc

    (National Economics University)

Abstract

Changes occurring within the real estate sector in Vietnam resemble of the Polish real estate market in the 1990s. Both the legal constraints, and also the political and economic situation of the country constitute barriers to development for this sector and regarding the adoption of solutions verified in market economies. However, despite such significant obstacles, the real estate sector takes over Polish and foreign experiences regarding the regulation of the real estate brokerage and creation of the profession of a real estate agent. Many of the solutions proposed in Vietnam had not worked in relation to Poland and then underwent further changes. The Vietnamese system seems to walk the beaten path and does not propose the omission of subsequent stages of development regarding the real estate market professions. They are executed on an evolutionary basis. The aim of this article is to review the conditions for the functioning of real estate trade in Vietnam in the context of changes and to compare and attempt to assess the opportunities for the adoption of Polish solutions in the area of the profession of a real estate agent. A comparative analysis leading to the achievement of the set goal required literature studies, an analysis of legal provisions, and interviews with Vietnamese real estate agents acting primarily within the area of Hanoi, the capital city of Vietnam.

Suggested Citation

  • Iwona Foryś & Nguyen Minh Ngoc, 2016. "The Vietnamese Real Estate Sector on the Eve of Changes - Real Estate Brokerage in Vietnam against the Polish Experiences," World of Real Estate Journal (Swiat Nieruchomosci), Fundacja Uniwersytetu Ekonomicznego w Krakowie, issue 98, pages 51-56, December.
    • Handle: RePEc:kra:journl:y:2016:i:98:p:51-56
    DOI: 10.14659/worej.2016.98.07
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    More about this item

    Keywords

    land use; real estate trade; real estate brokerage;
    All these keywords.

    JEL classification:

    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R32 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Other Spatial Production and Pricing Analysis

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