Foreigners eager to buy houses in Vietnam

28.11.2016

VietNamNet Bridge – A report of the Vietnam Real Estate Association (VNREA) showed that foreign investors’ demand for housing in Vietnam is on the rise, contributing to a nearly 20% increase in transactions in October alone.

The transaction volume in October rose 17% on average, with around 1,300 transactions in Hanoi, up more than 18%, and about 1,200 in HCM City, up nearly 17% compared with September.

The highlight of this year’s market is the increase in foreign customers. The amended Housing Act has enabled foreigners to buy houses in Vietnam.

VNREA said that demand in this segment will rise in the coming time, especially as the number of foreigners living and working in Vietnam has reached 320,000.

However, the criteria for housing projects of this subject is different from Vietnamese.

Ms. Luong Bach Van, Vice President of the Association for Liaison with Overseas Vietnamese, said most overseas Vietnamese prefer houses with convenient location, good infrastructure, utilities, environment and security.

Some developers target certain customers, such as Goldmark City project of TNR Holdings which aim for buyers from South Korea, Singapore and Japan, while the Vinhomes project of Vingroup targets European buyers.

Source: Vietnam.net

Photo: CBR Investment AG