New housing supply will boost developer cash flows but also increase leverage
Vietnam’s residential property sector recovered in 1H2024, marked by increases in housing supply and transactions following quickened legal procedures. Developer leverage remained high, and operating cash flow and cash resources improved slightly. Over the next 12-18 months, we expect developers to accelerate new project development and add to new housing supply. While cash flows will improve from faster sales, developers will take on more debt to fund new project development.
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