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Vietnam: Introduction for Real Estate Investors
Vietnam: Introduction for Real Estate Investors
Real estate investors can consider Vietnam to present them with the
same opportunities as Thailand did some twenty years ago. It is a
stunning country with a very young, well educated, hard working and
literate population and it’s a destination of wide appeal to both
holiday makers and those seeking a unique second home location.
Politically and economically speaking Vietnam is in transition and
improving, developing and stabilizing. While land law is still
evolving and certain domestic issues can cause problems for property
developers in Vietnam, the real estate investor should have
confidence about the long term
profitability of any investment made into the property sector
country wide.
From Hanoi in the north of Vietnam to Ho Chi Minh City in the south,
Vietnam has towns, cities, islands and resorts offering an investor
an unrivalled choice of residential and commercial opportunity at
currently very attractive prices.
Beginning with Hanoi: the city may be Vietnam’s capital city but it
is not the largest city in the country, nevertheless it is enjoying
substantial inward investment into commerce and industry while at
the same time managing to retain its unique laid back charm. The
city is therefore becoming as popular with multinational companies
and their expatriate employees as it is with overseas visitors and
it is becoming both a budget and package tourist hotspot. Visitors
are attracted to the contrasting modern skyscrapers and the timeless
lakes, gardens and wide, shaded boulevards and the city is highly
accessible with an international airport on its doorstep.
Hanoi has opportunities for the investor in the residential and
commercial rental real estate market and it offers developers a
chance to create anything from office and retail space to satellite
towns to service Hanoi workers with affordable and desirable
suburban properties. The latter opportunity also exists in Ho Chi
Minh City in southern Vietnam which is such a vibrant and exciting
city that has grown to become the largest in the entire country.
Accommodation issues in Ho Chi Minh City are beginning to push
rental prices up.
Ho Chi Minh City has become the business centre of Vietnam and has
one of the fastest growing micro-economies in the world. As a result
it is drawing substantial and sustained investment from overseas and
its population is swelling. The Vietnamese government are
considering proposals to develop satellite townships to house city
residents and investment is being sought for the North-West New
Township, Thu Thiem New City Centre and Nam Rach Chiec Residential
Complex currently. When in the construction phase, these
developments will offer investors a chance to buy off plan and
either flip or rent properties for profit.
For the second homer or those wishing to tap into the growing
tourist market along Vietnam’s 3,444 km of coastline or around its
thousands of pretty islands in Halong Bay there are various already
established resorts that are growing in popularity and
sophistication. One of the best is Nha Trang with its excellent
diving and stunning beach. It is also an area attracting some
intense real estate interest and a part of Vietnam that has been
compared to Thailand’s exciting resort of Pattaya Beach.
The stunning natural beauty of Vietnam with its palm fringed beaches,
lush forests and impressive mountains coupled with the Vietnamese
government‘s commitment to attract trade, commerce and to open the
economy and the country up to external investment point to a
prolonged period of fiscal improvement. And real estate investors
should recognise Vietnam as having one of the most exciting emerging
property sectors in the world - one offering such a broad range of
opportunity at incredibly affordable prices that it deserves closer
inspection.
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