High-end property remains attractive to foreign investors

HANOI - The Vietnamese real estate market, especially the high-end segment, will still attract the interest of foreign investors this year as the local housing market will grow further thanks to the country’s promising economic growth prospects and new infrastructure projects, said Savills Vietnam Managing Director Neil MacGregor.

In addition, HCMC and Hanoi are seeing significant development and can be considered on par with other cities in the region.

According to property service provider CB Richard Ellis (CBRE) Vietnam, high-end apartments accounted for the largest proportion of the total number of apartments put up for sale over the last three years. These apartments were mainly sold to foreigners, particularly Chinese investors.

In the January-September period last year, foreigners buying apartments in HCMC through CBRE Vietnam made up 76% of the total, where 31% were Chinese.

Read more: The Saigon Times.