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ECONOMYREAL ESTATE

Vietnam's real estate considered as "rising star" of Southeast Asia

Updated at Tuesday, 21 Feb 2017, 19:41
The Hanoitimes - Nearly $ 2 billion of foreign capital pouring into the market, Vietnam`s real estate is considered as "rising star" of Southeast Asia.

 
That is the statement made by Jones Lang Lasalle (JLL) when evaluated on the overall economic development of the ASEAN region. According to JLL, together with Indonesia, Vietnam will develop and create many opportunities for regional investors.

According to the JLL, Vietnam is in the most favorable period for economic development, with outstanding growth indicators, compared to other countries in the region.

Besides, the capital market tends to look for opportunities in Asia. In particular, commercial real estate in Vietnam is among the markets with the highest yields for global investors with an affordable price point and the growth of rental rates. If the Vietnam Dong continues to be stable as before, yielding assets can be adjusted.

According to data from JLL assessment, Vietnam is a "rising star" in the field, there are many opportunities for development in the segment of office, residential and retail real estate. According to expert studies, with the rapid expansion of the consumer market along with the economy shifting to high-value activities, Vietnam has witnessed a dramatic increase of capital foreign investment and the energy of the construction sector, especially in the office, retail and hotel real estate in order to meet the increasing demand, which must include the demand from the industry such as financial services, manufacturing, consumer products and information technology.

Commenting on these forecasts, the national experts also said that three factors are also pointed to leverage the real estate market in 2017:

The first one is a stable economic development, 2017 is projected to be a better economic development than 2015 and 2016.

Secondly, the stakeholders of the real estate market are very good prospects. Loans continued to be handled and fledged, credit allowed for real estate rebounded, funds started in the desired population, engaged in the real estate market.

Thirdly, the policy and issues related to state management, orientation and supporting the market. For example, ultimately handling bad debts and businesses will be likely bankruptcy, in the direction of market transparency.

On the other hand, Dr. Tran Ngoc Quang, General Secretary of Vietnam Real Estate Association, said that open-door policy for foreign real estate investment in Vietnam has created for foreign investors to enhance their understanding of Vietnam and the real estate market has improved friendly to foreign investors about the investment environment.

"The future market supply enough to meet the needs of all foreigners living in Vietnam with demand for accommodation. However, this policy is more effective, the text specifies the need to be deployed in a positive and timely way," Quang said. When foreign investors involved in the real estate market, it will create strong competition among domestic investors.
Translated by Tuan Minh
(Source: cafebiz.vn)
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