Billion dollar real estate agent

/ January 12, 2021

Real estate accounts for 7.6% of Vietnam economy

The Hanoitimes - Local experts list real estate the most important sector in many countries, including Vietnam. Real estate industry accounted for roughly 7.62% of Vietnam’s gross domestic product (GDP) in 2019, information has been released by the Vietnam National Real Estate Association (VNREA). Real estate sector becomes more important in Vietnam's economy. Photo: Pham Hung/Kinhtedothi The percentage is likely 13.6% if land is included, VNREA said in a research released last week. In terms of assets, real estate likely accounted for 20.8% of the total assets of Vietnam’s economy in 2020. The percentage is equivalent to US$205.26 billion out of the country’s total assets at US$986.82 billion in 2020. The ratio is forecast to reach 21.2% or US$462.7 billion in 2025 and 22% or US$1.23 trillion by 2030. The research, which is an independent scientific study, showed that real estate has impacted on 40 important economic sectors in Vietnam, mostly construction, manufacturing, tourism, lodging and restaurant, finance and banking. In terms of job attraction, real estate is just behind tourism and manufacturing and ahead of agriculture, forestry and aquaculture. Commenting the research, economist Vo Tri Thanh, member of the State Bank of Vietnam’s Financial and Monetary Policy Consultation Council, said it has prioritized policies that should be put into practice, greatly contributing to the healthy and sustainable development of real estate sector. Nguyen Manh Ha, deputy head of VNREA, emphasized the role of real estate in the country’s economy, listing it the most important industry in many countries. VNREA plans to submit the research and recommendations to the government, the Central Economic Commission, the National Assembly’s Economic Committee, the Ministry of Construction, the Ministry of Finance, the Ministry of Natural Resources and Environment, and related agencies for the long-term policy making toward real estate …

/ November 21, 2020

Vietnam’s coronavirus success story excites real estate developers

The Hanoitimes - Foreign real estate investors are believed to see a safe shelter for their money. Vietnam’s containment of Covid-19 has pinned hope among foreign real estate investors who see a safe shelter to allocate their money. Vietnam's real estate sector remains attractive to foreign developers. Photo: Phung Huynh Vu Qui/Getty Images The sentiment among the real estate developers has become strong following the encouragement by the governments in their own countries after a large number of multinational attempted to relocate manufacturing bases out of China. Foreign experts attribute the sentiment to the safety that the government of Vietnam has fight for in the battle against the pandemic. South China Morning Post believes that Vietnam is set to get a second round of tonic from global companies diversifying their production bases in the region as the coronavirus outbreak exposes the concentration risk in China. The situation in Vietnam burnishes its appeal as an alternative to China since giant companies like Apple, Samsung and their suppliers switched out to limit the damage caused by higher tariffs in the US-China trade war. Meanwhile, global real estate and investment management firm JLL believed that Vietnam, with relatively developed infrastructure and proximity to China, has attracted the majority of those who wanted to diversify their manufacturing portfolio outside China. Although the Covid-19 pandemic is currently causing difficulties for investment decisions or relocation activities, industrial park developers remain confident of increasing land prices as they were well aware of long-term potential in Vietnam’s industrial segment, sending land prices soaring in the northern industrial market, JLL explained. Demand for industrial land remained strong in the first quarter this year thanks to Vietnam’s good industrial fundamentals, the consultancy company noted. Analysts say industrial and residential …

/ March 1, 2021

What makes Phu Quoc’s real estate attractive to investors?

The Hanoitimes - Population in Phu Quoc likely triples in 2030, resulting high demand for hospitality industry. The administration upgrading has made Phu Quoc the first island city in Vietnam, opening up an era for the locality equal in size to Singapore. The tourism-based island city is destination for upcoming real estate investment. Photo: Kiengiangtravel The move is considered a momentum for the island that is well-known for tourism, creating favorable conditions for the mushrooming of real estate projects, local experts have predicted. It triggers a question on how Phu Quoc’s real estate attractive to investors. The expertise might offer a broader view of the potential there. Dang Phuong Hang, managing director, CBRE Vietnam, said that real estate ecosystem models like hospitality will match the tourism-based island. The development of tourism will support the growth of three-pillar model namely hospitality real estate, entertainment, and high-end housing segment, she added. Phu Quoc’s real estate sector has significant room to grow thanks to youngling market, plenty of investment opportunities, and reasonable prices. In addition, well-equipped resort projects are expected to drive up the service prices. Enormous potential for real estate market is obviously seen in newly-established wards like Duong Dong and An Thoi, Hang said. "The city status will enable Phu Quoc to make master growth planning, including strategies for tourism industry. The city’s population is forecast to triple by 2030, forming elite groups that demand high-end services," Hang said. Nguyen Van Dinh, deputy general secretary of the Vietnam Real Estate Association (VNREA), said the three-pillar ecosystem [hospitality real estate/resort – entertainment – high-end housing segment] is the most suitable model for the island tourism city of Phu Quoc. Notably, the well-invested infrastructure and more convenient transport have fueled the increasing flows …