HCM City has been greatly attractive to foreign property buyers (Photo: VNA) HCM City (VNA) – The hi-end property market in Ho Chi Minh City holds great attractiveness to Asian investors, especially those from China, according to CBRE Vietnam. The real estate services firm said on December 27 that according to statistics on CBRE’s successful transactions in HCM City, Chinese buyers of hi-end apartments only accounted for 2 percent of total customers in 2016 and 4 percent in 2017, but the rate surged to 31 percent in the first nine months of this year. The main reason is that since 2015, Vietnam has allowed foreign investors to own property in the local market. Additionally, Vietnamese developers have also actively advertised their projects in other countries. While a number of real estate projects were introduced in Singapore and China’s Hong Kong in 2016 and 2017, they have been strongly promoted in Beijing and Shanghai cities of China this year. CBRE said more … [Read more...] about HCM City: Luxury real estate attractive to Chinese investors
Chinese buying real estate
Duong Thuy Dung, senior director of real estate market research firm CBRE Vietnam, said at a recent forum that 31 percent of high-end apartment buyers in HCMC in the first nine months were Chinese. This figure increased from only 2 percent in 2016 and 4 percent last year. In the last two years, Chinese were sixth among all buyers, but this year, they have surpassed Vietnamese to rank first. Only 24 percent of high-end home buyers are Vietnamese, CBRE data shows. Stephen Wyatt, country head of property service firm JLL Vietnam, said the number of Chinese buyers has been increasing because Vietnam has an attractive price compared to other markets like Hong Kong, Japan, Singapore, South Korea and Taiwan. Chinese people often compare prices in Vietnam with Shanghai when they buy properties, he said, adding that they hope to gain profit from higher property prices in Vietnam in the future. A high-end apartment in the city costs around $5,000 per square meter, but the same one in Hong Kong … [Read more...] about Number of Chinese buying high-end Saigon apartments skyrockets
VietNamNet Bridge - FDI capital flow to the real estate sector soared to $5.5 billion in the first half of 2018. Vietnam's real estate sector attracted $5.5 billion worth of FDI in the first half ò 2018. Real estate is one of the favorite investment fields of foreign investors. In 2017, FDI capital into the sector reached a 7-year high with $3 billion worth of committed capital. However, the record has been broken. The amount of registered capital in the first half of 2018 was equal to that of the entire 2017. Where is the money going? Singaporeans and South Koreans were the first foreign investors in Vietnam’s market, while investors from China and Japan have come in recent years. According to Rong Viet Securities, the foreign capital mostly flows into the high-end segment with projects developed in Hanoi and HCMC. As the land fund in the central area is diminishing, realtors have begun eyeing the suburbs. Chinese CFLD Group is developing the Nhon Trach … [Read more...] about Will flow of FDI capital lead to a real estate bubble?
The Hanoitimes - A high-end resort at the coastal province of Quang Nam has received an order of 250 condotels from its partner to resell to South Korean buyers. Vietnam has seen an influx of South Koreans seeking to acquire real estate as the Southeast Asian country has become an attractive destination for investors and holidaymakers from the kimchi land, according to VnExpress. Phu My Hung urban area. Photo: Internet A representative of a coastal resort project in the central province of Quang Nam, which has 690 condotels and 90 villas, has tipped a well-known US real estate agency has place order to buy up to 300 products for resale. Of those 300, 250 condotels will be reserved for South Korean buyers who are interested resort products. What attracts South Korean buyers at this project is its prime location, great coastal landscape, exclusive design to suit the high-end segment, and, most fundamentally, the absence of Chinese tourists, a broker said. Industry … [Read more...] about South Korean investors eager to purchase real estate in Vietnam
Vietnam has become an up and coming property investment destination among Chinese and Hong Kong buyers with real estate prices lower than in other Southeast Asian countries. Demand for properties in Vietnam among Chinese buyers surged 300 percent year-on-year in the first quarter of 2018, Chief Executive Carrie Law of Juwai, one of the biggest international property portal in China, told South China Morning Post (SCMP). “Many investors from mainland China are hoping to see these cities [Ho Chi Minh City, Hanoi] replicate the same growth as Beijing and Shanghai,” said Stephen Wyatt, the country head of JLL Vietnam. Buyers from mainland China, Taiwan and Hong Kong last year accounted for 25 per cent of the Southeast Asian nation’s total transactions by foreign buyers, up from 21 per cent in 2016, according to data from real estate company CBRE Vietnam as quoted by SCMP. Analysts say relatively low prices in Vietnam, one of world’s fastest growing … [Read more...] about Cheap real estate in Vietnam draws scores of Chinese buyers