Pillars to fuel HCMC real estate market

Illustrative photo (Source: Internet)

Ho Chi Minh City would see its real estate market enjoy thriving developments buoyed by promising segments, foreign-invested real estate service providers have noted. According to Troy Griffiths, deputy managing director of Savills Vietnam, Ho Chi Minh City (HCMC) is undergoing massive changes in terms of demographics and infrastructure, along with a burgeoning middle and affluent class. The city is believed to benefit from external factors such as trade tensions and the Government’s efforts to improve the efficiency of state administrative management. Furthermore, HCMC has seen a rapid growth in the co-working space market in the last two years, with a rise of 90 per cent on year. Local co-working spaces have now reached over 37,000 square meters; of this, 56 per cent stand in the CBD. Restate service provider CBRE Vietnam asserted that flexible working spaces in HCMC are among the top three fastest growing markets throughout the Asia-Pacific region. Flexible working spaces are said to include service offices and co-working spaces.

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