Vietnam's real estate market is showing signs of recovery. (Photo: laodong.com.vn)
Panelists of the Vietnam Panel voted Vietnam as the best performing real estate market in 2016, ahead of Thailand, Indonesia and the Philippines, Alternaty Co., Ltd., a Ho Chi Minh City-based real estate consulting firm, said in a press release Thursday.
Vietnam was also chosen the favorite real estate market which is currently offering the best opportunity.
At the congress, regional investors showed their interest in Vietnam’s real estate market due to positive fundamentals.
“Currently Vietnam is offering the most exciting opportunity in the region, while at the same time the regional real estate markets are suffering. Singapore is feeling the effects of the heavy-handed cooling measures, Indonesia and Malaysia have seen rapid currency depreciation, Thailand continues to grapple with internal issues and Myanmar is seeing significant supply coming on to the market putting downward pressure on rentals and pricing.
Meanwhile Vietnam has come through an extended period of consolidation, and looks poised to lead the regional real estate markets over the next two to three years,” said Rudolf Hever, Alternaty’s executive director.
Vietnam’s property market may be driven by the stable economy, rising confidence of buyers and developers, positive effects of the ASEAN Economic Community and TPP, and the government’s recent moves such as the relaxation of foreign ownership rules for real estate.
Government data showed that foreign investors poured $2.14 billion into the Vietnamese real estate market in the ten months through October, accounting for 11.1% of FDI in the period.