Vietnam real estate attracts more foreign investors
June 13, 2014 - Vietnam
Foreign investors are eyeing more projects in the Vietnamese property sector as the market increasingly becomes more open to overseas investment opportunities.
Singaporean firm SLP Group is considering residential, commercial and industrial developments in Vietnam, where the real estate market is as saturated as Singapore’s, according to CEO Tricia Teo.
She said that housing prices in the country is especially attractive and “balanced with investment capital”, which lures foreign investors to expand operations there, Vietnamese publication Business Times reported.
Vietnam Real Estate Association deputy general secretary Tran Ngoc Quang echoed the same sentiment. “The Vietnamese market is developing and all market forecasts confirm that this is a market with great potential,” he said.
UAE-based Investment Corporation of Dubai recently sent a team to the northern province of Quang Ninh to review the investment potential of the Van Don special economic zone.
Hanoi and Ho Chi Minh City, two of Vietnam’s largest cities, have also showed signs of rapid growth potential in the next two decades, and both are seen to drive the return of the country’s property sector, Peter Ryder, CEO of IndoChina Land, told Vietnam News Brief Service.
Investors from South Korea and Japan are also showing strong interest in the Vietnamese real estate industry, according to Neil MacGregor, managing director of Savills Vietnam.
Vietnam was recently named by US-based Association of Foreign Investors in Real Estate as the fourth emerging market in the world for property investments.
A proposed law to allow foreign ownership of real estate is carefully being studied by the Vietnamese government in order to further boost the local property market.
Source: Property Report
Trends, real estate market, foreign investors