An online real estate trading floor was officially launched Sunday by the Ministry of Construction and the Viet Nam Real Estate Association.

The online exchange, www.sanbatdongsan.net.vn and www.vietreal.net.vn, allows buyers and sellers to access the market directly, according to the ministry.

The ministry said the sites allow people to buy quality houses without paying intermediary charges.

The exchange now has 52 registered members, including trading floors and real estate businesses.

The property market is forecast to boom this year with foreign investment flows boosted by WTO membership and the US’s approval of normal trade status for Vietnam.

There is growing interest among foreign investors in infrastructure, urban development, housing, and resorts.

Many delegations representing major real estate companies from the US, Singapore, Hong Kong, Republic of Korea are seeking investment opportunities in the country.

Most foreign investors have been interested in property projects in urban hubs like Ho Chi Minh City and Hanoi.

Decrees issued by the government to guide implementation of new investment and housing laws have created a relatively transparent legal framework for the real estate business.

The Real Estate Trading Law that took effect early this year contains more liberal provisions to meet the needs of foreign investors.

The government has also allowed overseas Vietnamese to participate in the property market more openly and easily than ever before.

Other experts said that saturation in the Southeast Asian markets would make Vietnam a lucrative investment option with its rapid urbanization and demand for housing and offices outstripping supply.