Vietnam ranks as second most preferred emerging real estate market in Asia-Pacific: CBRE

By VNA   March 4, 2024 | 03:32 pm PT
Vietnam ranks as second most preferred emerging real estate market in Asia-Pacific: CBRE
Townhouses and apartments in the eastern part of HCMC. Photo by VnExpress/Quynh Tran
CBRE's 2024 Asia-Pacific Investor Intentions Survey ranks Vietnam's real estate market as the second most favored among emerging destinations in the region, trailing only behind India and ahead of Thailand.

This is a good sign reflecting the positive potential of the Vietnamese economy and foreigners’ plan to buy housing here, the real estate service company noted.

CBRE Vietnam said investment flows into the country so far mainly come from Asian investors like Singapore, Japan, Hong Kong (China), and the Republic of Korea. The value of each transaction often varies between $20-50 million.

Meanwhile, financial funds from more developed markets in North America and Europe have yet to deeply penetrate the Vietnamese market.

A large number of individual investors have begun paying attention to local real estate, the firm went on, citing data of the Ministry of Construction as showing that about 4 million people, including foreigners and overseas Vietnamese, have demand for buying houses in Vietnam in the future.

Chief Executive Officer for Avison Young in Vietnam David Jackson held that the Asia-Pacific, including Vietnam, boasts much potential for attracting more investment than other regions in the world. Such factors as young population, economic growth, and consumption habits in the region indicate a positive long-term prospect.

According to the Statista company, Vietnam’s real estate market is worth $4.41 trillion in 2024, while the Thai market is valued at $2.51 trillion.

Most investors in Vietnam are interested in industrial and office property. The country’s strong and export-focused economy has fueled trading activities, thus enhancing demand for efficient supply chain and logistics management. Given this, investors are paying great attention to industrial real estate, CBRE Vietnam pointed out.

Apart from commercial real estate, land for housing development continues to grab attention of outside investors, it said, adding that many investors are seeking assets with decreased prices or those whose owners are facing legal or capital problems.

This trend highlights the resilience and attractiveness of the housing segment in the country, CBRE Vietnam said.

go to top