Vietnam’s property market is trusted locally and from afar.
Research carried out the Vietnam News Agency painted a rather rosy outlook for the Vietnamese property market. The Financial Times Confidential Research survey reported that 8.5 percent of Vietnamese intend to invest in property this year. This signifies the strength of the property market. Especially if compared to other markets in the region such as Indonesia where 2.6 percent of the population said that they are wanting to take the plunge in their own market.
Expectations for property as a lucrative investment asset remains high. 70 percent of those surveyed in Vietnam expect values to rise for the first six months of 2017. This is a result of urbanisation, improved lending conditions, and a strengthening economy that is being supported by the property market.
The announcement of Vietnam willingness to welcome foreigner investors has also helped. Implemented in 2015, the aim of opening the gates was to lessen the oversupply, which was in existence due to the crash in 2011. Now foreigners who hold a visa, Vietnamese who are based abroad and international companies are now permitted to own property in Vietnam. Initially, the market was slow to get off the ground. But now it is making headway with Ho Chi Minh City being earmarked as the place to invest.
It is estimated that 320,000 foreigners reside in Vietnam according to the Vietnam Real Estate Association. These numbers boast both the sales and rental markets. The group that are most likely to buy property are those with business in the country. Namely from Singapore, China, South Korean and Japan.
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