Developers appreciates Vietnam’s real estate market

23/09/2008

Vietnam is one of the most attractive markets for real estate developers in Asia, foreign and local investors have said.

The investors represent 70 local and foreign real estate groups who are tracking developments and opportunities in Vietnam’s market at a two-day seminar in Ho Chi Minh City, which kicked off on September 23.

They were of the view that the property market in Vietnam offers lucrative opportunities despite volatile prices, which explain why half of 47 billion USD in FDI pumped in the country in the past eight months went into property development projects.

The bustling economic hub of Ho Chi Minh City saw 90 percent of its 7.9 billion USD in FDI in the reviewed period injected in real estate.

A new trend has appeared in the sector with Vietnamese real estate developers partnering with foreign businesses in property development projects. Both sides stand to benefit this way, as local companies get their much-needed capital while foreign investors do not have to worry about administrative procedures.

However, foreign investors at the seminar were still concerned about the time-consuming administrative procedures for their investment in Vietnam.

They called for greater efforts to be made in streamlining administrative procedures in a bid to provide both local and foreign developers with equal opportunities in the real estate market.

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