Factors Affecting Real Estate Prices During the COVID–19 Pandemic: An Empirical Study in Vietnam

The COVID-19 pandemic has widely spread and has become a global problem. The pandemic has had a negative impact on most countries and on the global economic growth. In the real estate and housing market, the impact of the pandemic has directly disrupted the supply of raw materials and human resources. In case of Vietnam, the real estate and housing markets are increasingly becoming important contributors to Vietnam’s economy, with a combined contribution of approximately 6% to the GDP of the country. Also, the pandemic has negatively affected the real estate in Vietnam. Using a sample data of 220 home, apartment and real estate buyers in the period of April 2020 to Apr 2021 in Nam Tu Liem and Cau Giay districts, Hanoi, the research results demonstrate that the area of the house, the number of beds, and the location of the land show a positive influence on the real estate price. Meanwhile, the distance from the land to the center of the district has a negative effect on the price, which means that the further away a land is from the center, lower is its price.