Property market transactions are increasingly online

To boost sales in the northern markets, the Vietnam Real Estate Brokerage Association organized Golden Week, where attendees could enjoy a discount rate of up to 30 percent. The event, on December 7-14, ran on redfriday.com.vn.

Deputy chair of the association Nguyen Van Dinh said the Golden Week organization followed Black Friday’s way. The projects offered for sale and details about sale promotion programs were all legally examined by the association before officially turning up in the market.

Thousands of products, from apartments to villas and houses, were offered during the week. Projects’ owners cooperated with commercial banks in providing loans to fund customers’ purchases. 

Meanwhile, the brokerage association acted as the intermediary role, receiving deposit money from buyers and transferring to sellers. It also took the responsibility of supervising the transactions to be sure that clients could enjoy all the preferences promised to them.

Deputy Minister of Information & Communication Nguyen Thanh Hung confirmed that online real estate transactions have been developing rapidly in recent years in Vietnam, where 60 percent of total population of 95 million use internet, and for seven hours a day.

Realizing the importance of the online transaction channel, CENLand JSC has developed sieuthiduan.vn, an information portal. Recently, it launched nghemoigioi.vn website and nghemoigioi app which connects brokers, clients and project investors. 

Most recently, CenLand inaugurated cenhomes.vn, which is considered an upgraded version of nghemoigioi.vn. Cenhomes allows customers to check information about projects, examine houses & apartments online, calculate loan interest rates, pay a deposit and make payment online. In addition, it helps analyzeprices based on AI and Big Data.

Le Xuan Nga, Cenhomes’ CEO, said he wants to develop cenhomes.vn into a search engine for the real estate sector.

Online real estate attracts not only large corporations, but startups as well. Batdongsansach.vn which helps check legal evidence about properties, is one of them. 

The website was developed after Le Chi Cuong, the founder, met many people who complained that they had mistakenly bought property which did not have clear legal status.

Cuong said the website will officially make its debut in January 2019. With high technology, 70 percent of works at batdongsansach.vn run automatically, while the other 30 percent is undertaken by lawyers.

A Singaporean real estate technology group, PropertyGuru, last October announced it has acquired the controlling stake at batdongsan.com.vn.

In July, homedy.com, a startup, announced it has, for the second time, successfully called for capital from Genesia Ventures, Access Ventures and Mynavi Corporation.

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