Property buyers are investors from Singapore are increasingly turning their focus on real estate investments in Vietnam.
According to several media reports Singapore real estate agency SLP recently met with the Real Estate Association in Vietnam seeking investment opportunities. Tricia Teo, Managing Director of SLP, was quoted as saying: “Vietnam is considered a very attractive destination among Singaporean investors, and we have the investment sources and private funds required for real estate projects as well as a clear strategy and experienced human resources.”
There is a lack of clarity regarding foreign property purchases in Vietnam, and Teo said that if a policy allowing foreigners greater rights to buy houses in Vietnam was passed, Singaporean investors would be more keen on the market.
Developers, including CapitaLand, have been doing business in Vietnam for many years however individuals must be in possession of a three-month work visa in order to purchase property in their own name in some parts of the country.
Managing Director of Savills Vietnam, Neil Alexander MacGregor, said:“Whilst Vietnam is at the bottom of its real estate cycle, many other Asian markets are at the top of their cycles and may be set for a downturn over the next few years. Vietnam is therefore attractively positioned for investors to take advantage of market recovery while other markets begin to cool.”
Photo credit: Vietnam’s Ho Chi Minh City. (c) PropertyGuru Group.
Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email: andrew@propertyguru.com.sg
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