Vietnam’s property market enters attractive phase, says expert

by -
1653

Hanoi-VietnamVietnam’s real estate market has bottomed out and is showing some encouraging signs of recovery, an expert has said.

Neil MacGregor, managing director of property services firm Savills, said the Vietnamese market would continue to see demand from investors from Japan, Singapore, and South Korea.

Vietnam now offers an attractive destination for investors given that many other Asian markets, now at the top of their cycles, may begin to cool over the next few years, he said.

“We believe Vietnam remains a key destination for real estate investment in the Southeast Asian region,” MacGregor told the Vietnam-Singapore Business Forum  in Ho Chi Minh City.

“Our current investment picks include operating hotels and office buildings, as well as niche residential development opportunities,” he said.

The office and residential markets in Ho Chi Minh City are starting to demonstrate a better balance between supply and demand, according to the expert.

While this has yet to result in a significant increase in rental or residential prices, MacGregor expects those increases during the second half of this year and next year.

After long periods of due diligence and negotiations, several successful transactions were announced during the first quarter of this year, Savills said in its first-quarter report.

For instance, Korea’s leading retailer, Lotte Mart, acquired Pico Plaza in Ho Chi Minh City as part of its expansion plan. Local developer Novaland Group announced plans in February to invest $176.2 million into three residential projects under construction in the city.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

Vietnam’s real estate market has bottomed out and is showing some encouraging signs of recovery, an expert has said. Neil MacGregor, managing director of property services firm Savills, said the Vietnamese market would continue to see demand from investors from Japan, Singapore, and South Korea. Vietnam now offers an attractive destination for investors given that many other Asian markets, now at the top of their cycles, may begin to cool over the next few years, he said. “We believe Vietnam remains a key destination for real estate investment in the Southeast Asian region,” MacGregor told the Vietnam-Singapore Business Forum  in...

Hanoi-VietnamVietnam’s real estate market has bottomed out and is showing some encouraging signs of recovery, an expert has said.

Neil MacGregor, managing director of property services firm Savills, said the Vietnamese market would continue to see demand from investors from Japan, Singapore, and South Korea.

Vietnam now offers an attractive destination for investors given that many other Asian markets, now at the top of their cycles, may begin to cool over the next few years, he said.

“We believe Vietnam remains a key destination for real estate investment in the Southeast Asian region,” MacGregor told the Vietnam-Singapore Business Forum  in Ho Chi Minh City.

“Our current investment picks include operating hotels and office buildings, as well as niche residential development opportunities,” he said.

The office and residential markets in Ho Chi Minh City are starting to demonstrate a better balance between supply and demand, according to the expert.

While this has yet to result in a significant increase in rental or residential prices, MacGregor expects those increases during the second half of this year and next year.

After long periods of due diligence and negotiations, several successful transactions were announced during the first quarter of this year, Savills said in its first-quarter report.

For instance, Korea’s leading retailer, Lotte Mart, acquired Pico Plaza in Ho Chi Minh City as part of its expansion plan. Local developer Novaland Group announced plans in February to invest $176.2 million into three residential projects under construction in the city.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00