Vietnam’s residential property market has captured the attention of High-Net-Worth Individuals (HNWIs) and investors, driven by strong GDP growth, urbanisation, and its strategic role in the “China+1” strategy, according to Knight Frank’s report.
The mid-range segment accounts for 98% of the total supply of apartments in Hanoi, while the high-end segment constitutes a mere 2%, CEO of Indochina Capital Michael Paul Piro told a press briefing in Hanoi on September 23.
Real estate revenue in Ho Chi Minh City reached VND173 trillion (over US$7 billion) in the first eight months of the year, up 6.1% year-on-year, according to the HCM City Statistics Office.
In the context of the low capital absorption rate of businesses and the entire economy, the transformation of the real estate market in recent months and the growth of real estate credit have boosted credit growth in Ho Chi Minh City.
The industrial real estate market, particularly in the southern region, held steady in the first months of this year, which experts said was mainly thanks to rebounding imports and exports, and increasing influx of foreign investment.
