Sector Insight

The real estate sector in 9M2024 has shown many positive signs as (1) it continues to attract strong foreign direct investment (FDI), (2) consumer credit for real estate grows, (3) the payment ability of the corporate bond market has significantly improved, and (4) the number of licensed projects continues to increase. Nevertheless, we still see challenges in the market as (1) although overall supply and demand have grown, it remains uneven between the South and the North, and (2) the activity of issuing real estate corporate bonds has been lackluster in the second half of the year.

However, we remain optimistic that the real estate market will continue its recovery in 2025, driven by (1) improved legal frameworks and (2) attractive interest rates supporting ample supply.