Viet Reader.


Premier Newspaper for Vietnamese Worldwide

Vietnamese real estate attracts foreign investors

Industrial real estate and residential real estate have many signals showing the return of domestic and international investors. Specifically, from August 2023, the buying and selling real estate markets, and project mergers and acquisitions ( M&A ) markets recorded more bustling activities...


At the Asia-Pacific Real Estate conference organized by the Thai Real Estate Federation (FIABCI) in Thailand, Mr. Tran Van Binh, Vice Chairman of the Vietnam Real Estate Brokers Association, said: Vietnam is an emerging market with many policies attracting investment, with economic growth, a young, dynamic population, and advantages in natural resources. Therefore, in recent years, Vietnam has recorded a strong wave of investment from Singapore, Korea, Japan, and Thailand. Residential, commercial, resort, and industrial real estate magnetize a large number of investors. These include: CapitaLand makes the success of residential real estate projects; Industrial real estate has VSIP; Commercial real estate has Lotte and Central Retail Group…

However, when the world economic situation witnesses fluctuation, Vietnam impossibly avoids severe impacts; and the real estate market has encountered many difficulties and challenges. But under the direction of the Government, ministries, branches, and efforts of businesses, the real estate market is gradually recovering. Notably, industrial real estate and residential real estate have shown many signs of returning from domestic and international investors. Specifically, from August 2023, more bustling activity was recorded in the buying and selling real estate, M&A markets.

According to Mr. Binh, to help the domestic real estate market become vibrant, and goal is to open up and promote the international investment development in Vietnam as well as "retain" highly qualified human resources coming to Vietnam. Men work, live, and help promote Vietnam's economic growth; The Vietnamese government has continuously increased real estate, building product supply that is suitable for housing needs, and foreign investment in permitted areas in Vietnam. At the same time, many regulations are released to create favorable conditions for foreigners to buy and own real estate in Vietnam.

Sharing more about the regulations for foreigners buying houses in Vietnam, Mr. Binh said: Foreigners will be able to possess commercial houses in Vietnam within 50 years; receive gifts, inherit and own no more than 30% of the number of apartments in a building, or no more than 250 apartments for individual houses in a residential area equivalent to a ward-level administrative unit. .

On the other hand, currently, there is also a proposal to increase the homeownership rate for foreigners. Accordingly, recognizing the increasing need to own houses among foreigners living and working in Vietnam, the Vietnamese Government is researching to amend important laws for the Vietnamese real estate market. such as Housing Law, Land Law, Bidding Law, and Real Estate Business Law... in a direction that is more suitable to the actual situation. This can be an important basis for creating favorable conditions for foreigners who want to buy or own a house in Vietnam.

At the conference, experts from Myanmar, Thailand, and Cambodia also provided practical information about the current real estate market situation in those countries. Many opinions and key contents were discussed and shared by experts and investors. This is an important basis, a premise to open new cooperation opportunities promoting sustainable value in the real estate sector between countries.

Asia-Pacific Real Estate Conference is an annual event organized by FIABCI. This year, the program takes place for 3 days, from July 5-7, 2023 with charming content; attracts more than 800 developers, investors, brokers, valuers, managers, and guests from countries who have an interest in the real estate market and expect to seek investment and cooperation opportunities, participate in the cross-border real estate market.

About author
You should write because you love the shape of stories and sentences and the creation of different words on a page.
View all posts
More on this story