New apartment launches in the third quarter of 2020 rose 79% on-year.

The Vietnamese property developer has long enticed foreign investors.

Analysts at MB Securities and Yuanta Securities reckoned Wednesday’s rally is a short-termed rebound.

The situation, however, is likely to be getting worse if the pandemic derails the economy, due to the highly cyclical nature of the real estate industry.

Vietnam has for years allowed foreign institutions and individuals to buy and own houses, but few people have succeeded in winning the ownership certificates.

The outlook is decidedly bullish for Vietnam’s residential market in the long term.

Nine out of the ten largest cap companies continued to lead the classification compared to 2018, but their rankings are now changed.

The biggest support for the market is expected to come from the consistent policy implementation by the government to stabilize macroeconomic factors and encourage domestic firms to develop.