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
Chinese buying real estate
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
With North Korea pledging to reduce tensions and renew ties with its southern neighbor, South Korea’s hottest property market is now along the heavily fortified border between the two countries. Demand for property in small towns and sparsely populated rural areas around the Demilitarized Zone (DMZ) is surging on expectations of an influx of people and investment. Kang Sung-wook, a 37-year old dentist in the South Korean border city of Paju, has bought eight separate lots of land in and around the DMZ since mid-March. Five were purchased without ever setting foot on them, using only Google Earth satellite photos and maps, as areas inside the DMZ cannot not be accessed by the public. Kang said buying interest jumped so sharply as relations between the former foes improved that he needed to move fast. “I was out looking since North Korea-U.S. summit news was announced in March, and it looked like all the good ones were gone already,” said Kang. “I realized then … [Read more...] about Peace talks ignite land buying frenzy along South Korea’s fortified border