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Vietnam real estate enters heat wave – what next?

Vietnam real estate enters heat wave – what next?

June 2016

Country Head of JLL Vietnam Stephen Wyatt has described Vietnam’s real estate as “red hot”.

“The economy has improved significantly over the past 24 months with GDP growth for 2016 projected at 6.8%; if achieved, this would be the second fastest growing economy in the world, behind India. Interest rates are currently 8-9% and inflation is tracking under 3%. In 2015, registered Foreign Direct Investment reached USD 22.8 billion, up 12% on the previous year.”

According to Wyatt with the economy back on track, the property market has gathered momentum over the past 18 months, predominantly focused around the residential sectors in the major cities, such as Ho Chi Minh City and Hanoi.

“Activity within the industrial sector has improved with many companies looking to enter Vietnam, due to low labour costs and improving infrastructure. This sector will have a further boost when a number of trade agreements take effect, including EU and Trans-Pacific Partnership. Vietnam stands to be one of the largest beneficiaries of the TPP agreement over the next 5-10 years,” added Wyatt.

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