Global investors eye Vietnam’s real estate market. (Photo: VNA) Hanoi (VNA) – Foreign investors cannot take their eyes off the Vietnamese real estate market, one of the most dynamic emerging markets globally, according to an article by regional managing director, Southeast Asia, CBRE Vikram Kohli on www.bussinesstimes.com.sg. “Driving its strong economic growth is an expanding middle class with thickening wallets,” the article said, adding that rapid urbanisation is supported by a young, growing and educated population, and all bode well for an economy with one of the world’s fastest growing gross domestic product (GDP) rate. In addition, the World Bank has projected that Vietnam’s GDP will expand by 6.8 percent this year, fuelling big appetites of global investors looking to make their mark in Vietnam’s burgeoning property market. In the past three years, Vietnam has seen a significant increase in the number of foreign investments in the real estate sector. Developers from Singapore, Japan and the Republic of Korea have favoured sites in downtown areas while local developers usually enter into joint venture agreements with foreign developers on the premise of optimising decision-making in site sourcing and project management. Since 2015, the bulk of big-ticket mergers and acquisition (M&A) transactions have been championed by those investing in property development sites, followed by hotels, apartments and offices. This is testament to the fact that those pouring money into Vietnam are in it for the long run. Running alongside the strong demand for commercial sites is the relative shortage of supply, which… [Read full story]
Leave a Reply