Vietnamese people invest heavily in their homes and enjoy every moment
The residential housing market is showing clear signs of innovation, reflecting the new living mindset of Vietnamese households today. We can easily see villas with Japanese roofs, Thai roofs, castles,... springing up like mushrooms in the countryside in recent years. There are houses that were only built in 2005 and are still very solid, but by 2023 the family had them demolished to rebuild with a new style and more suitable functions.
This partly comes from the lifestyle of Vietnamese people that has changed in recent years. After the Covid-19 pandemic, people have the mentality of spending more time with family, they stay at home more, so they want to decorate. home. Another reason comes from the filial piety activities of the family's children, their success in business, or savings from labor export,...
One of the interior styles favored by Vietnamese people (Photo: Internet)
Vietnam's market potential is currently very large with a population of 100 million, of which 40% are urban residents, with an increasingly high standard of living with a need for convenience. Many families also spend heavily on design solutions, uniform interior materials, combined with comprehensive use of smarthome for the house according to aesthetic taste, expressing their own personality. In particular, many young families tend to seek experiences instead of material things, because experiences help them live in each moment. Therefore, living space decor trends at this time are also becoming vibrant and diverse in style.
Currently, Viettel Construction is providing households with a comprehensive home experience: from design consulting, construction, basic finishing, equipment integration, to interior finishing and repair. periodic maintenance. With 63 branches and 400 district centers, it helps people quickly use services when needed.
The total number of household civil construction projects constructed by Viettel Construction currently covers up to 656/701 districts (equivalent to 94%), built in 2,345/10,609 communes (equivalent to 22%). This reflects the huge market capacity of the construction sector, and also affirms the trust that people are having in Viettel Construction.
Image of a civil construction project constructed by Viettel Construction in Hai Duong
The real estate market is starting to flourish and opportunities are coming from the Government's support
Besides the household housing construction segment, Viettel Construction currently also undertakes many B2B projects (Resorts, industrial parks, factories and transportation infrastructure). Cumulatively in the first 11 months of 2023, Viettel Construction has signed VND 1,900 billion worth of B2B, SME and B2C jobs. It can be seen that Viettel Construction is currently receiving great favor from Investors and households.
According to Global Data's report, the size of Vietnam's construction market is 87.7 billion USD in 2022. This data was analyzed by Global Data based on the commercial, industrial, infrastructure, and construction segments. energy and utilities, institutional building and residential construction. The market is predicted to achieve an average annual growth rate (AAGR) of more than 6% during the period 2024-2027. Market growth will be supported by government efforts to develop transportation, energy, industrial and housing infrastructure.
In March 2023, the National Assembly passed a 2023 budget worth more than 29 billion USD, a significant increase compared to the 2022 budget. This demonstrates the government's efforts to develop transportation infrastructure. communications, energy, industry and housing. In addition, the Government approved the National Petroleum and Gas Supply and Storage Infrastructure Plan for the period 2021-2030 in July 2023, with significant investment.
Facing market opportunities, combining Viettel Construction's business strategy of promoting domestically and expanding foreign markets will help the Corporation continue to make breakthroughs in the period 2024-2025.