Vietnam is one of the countries with a higher urbanization rate. The current urbanization rate is about 34.7%, and the total urban population is 95 million. With an urbanization rate of 3.5%, it is estimated that by 2025, the proportion of the Vietnamese urban population can reach 50%. According to the World Bank's assessment, Vietnam is in the golden demographic stage, one for every two working ages, and this demographic structure will remain unchanged for 15 years. At present, the average age of Vietnamese is 31 years, which is the age structure of the younger population.
In recent years, the real estate mortgage market in Vietnam and the entire real estate market have been actively developing. According to statistics from the Bank of Vietnam, real estate loans nationwide increased by approximately 12.5% in 2016 year-on-year. At the same time, demand for home loans for middle- and low-income people is rising. Currently, most young people tend to buy a house or apartment and live alone. It is expected that this trend will be more rapid in the next 5 to 10 years and stimulate the Vietnamese real estate loan market to flourish. With the increase in housing demand, more and more commercial banks provide home buyers with loan services.
Due to the active development of the Vietnamese real estate market and the increasing demand for engineering and construction in major cities, the construction industry has seen a good rise. According to the report of the Ministry of Construction of Vietnam, the growth rate of the construction industry in 2017 was relatively high, with an increase of 8.7% compared to the same period, contributing 0.54 percentage points to GDP growth. The construction industry's production value in 2017 was about VND 1200 trillion, and it is expected that it will reach VND 1500 trillion by 2020.
Although the global epidemic is now severely affected, Vietnam is also affected by the plague, and the construction industry has not grown much in the short term. Still, the overall growth potential of the construction industry in Vietnam is huge. With the end of the epidemic, the construction industry will usher in recovery, and demand for concrete will rise steadily. As an essential additive in concrete production, the need for superplasticizer in concrete will increase steadily. As a supplier of high-quality concrete additives, our company can stably provide superplasticizer in concrete with excellent quality to international partners. If you need it, you can contact the manager of our foreign trade department: tech@cie-china.org.
