The Hanoitimes - In 2019, Vietnam has 142 ultra-high net worth people with net worth from US$30 million onwards, up 7% year-on-year, while the country had 12,327 millionaires in 2018, up 5% year-on-year. By 2023, the figure is expected to increase to 15,776. Vietnam economy forecast to grow by more than 7% in 2019 Vietnam predicted to gain short-term benefits from US-China trade war Actual FDI in Vietnam hits record high in 2018 amid trade war With the growing rate of the ultra-high net worth population at 31% in the next five years, Vietnam is named among the world’s top five fastest growing countries, according to the 2019 Wealth Report recently released by Knight Frank. Illustrative photo. At such rate, Vietnam is behind India as the country with the fastest growing rate of people with ultra-high net worth (from US$30 million onwards) at 39%, the Philippines 38%, China 35%, Indonesia 32% and equivalent to Malaysia at 31%. In 2019, Vietnam … [Read more...] about Vietnam named among world’s top fastest-growing ultra-high net worth country
High net worth individuals
Apartments in Ho Chi Minh City remain far cheaper than those in nearby Hong Kong, Kuala Lumpur, and Bangkok As the upper class continues to grow and consolidate demand for high-end and luxury housing products, the market still has room for growth. The number of the so-called super-rich in Vietnam, and their general rise across Asia, has continued to grow over the past five years and shows no signs of slowing down. A relevant factor in this is the revised Law on Housing issued in 2014 allowing foreigners to own houses in Vietnam, which has created a demand for high-end real estate from neighbouring countries. When the policy came into effect in 2015, the percentage of foreign owners in many high-end projects reached its highest limit, featuring mainly buyers from Taiwan, Hong Kong, and South Korea. In the past few years, the luxury housing segment in Vietnam has attracted more and more foreign investors because of attractive profit margins. In the context that profits continue to … [Read more...] about Foreign property buyers flock to high end market
The momentum in Vietnam’s residential market continues to be driven by its golden demographics, a positive economic outlook, and the completion of new infrastructure projects. (Photo: reatimes.vn) MacGregor assumes that buyers are set to benefit from potential capital appreciation as Vietnam continues to enjoy remarkable growth. In many respects, 2018 proved to be a landmark year for the rapidly changing residential markets in Vietnam. Purchases by foreigners reached unprecedented levels, with the vast majority of high-end projects hitting their 30 per cent foreign quota at launch. Ho Chi Minh City (HCMC) saw a number of prime District 1 projects launched for the first time, with talk of restrictions going forward on any further residential projects in the city centre. Simultaneously, the much-touted oversupply that has been foreseen by many since late 2017 has failed to materialize. Many projects have been delayed, leading to feverish sales … [Read more...] about Time to invest in prime home sector: industry insider
The Hanoitimes - Vietnam`s real estate sector remains a promising land for investors as Hanoi and Ho Chi Minh City are undergoing rapid transformations, continuing to catch regional peers. Why is Vietnam's real estate a magnet for international investors? (P.2) Why is Vietnam's real estate a magnet for international investors? (P.1) There are a number of reasons indicating how fast Vietnamese economy has grown in the recent years and how dynamic the real estate market has been over the past years. Illustrative photo Since the market recovery in the past few years after a slow period between 2010 and 2014, investors have been pouring money into different segments, mostly prime homes thanks to strongly-supported fundamentals. Accordingly, strong price increases in the real estate market have turned Vietnam into a promising land and an investment hub for those who want to diversify their investment portfolios. Encouraging macroeconomic indicators With … [Read more...] about Is it time to invest in Vietnam’s prime homes?
The Hanoitimes - Vietnam is projected to stand behind Nigeria, Egypt and Bangladesh in the list. Vietnam among world top 10 fastest-growing ultra high net worth countries Vietnam's GDP growth in 2018 hits 10-year high at 7.08% Vietnam is expected to register an annual growth rate of 10.1% in its high net worth (HNW) population starting 2018, standing at the fourth among the world's top 10 fastest-growing HNW countries in the 2018 – 2023 period, stated data firm Wealth-X. Under the report, Vietnam would stand behind Nigeria (16.3%), Egypt (12.5%) and Bangladesh (11.4%). According to Wealth-X, the world’s HNW population - individuals with a net worth of US$1 million-US$30 million – rose by 1.9% to 22.4 million, an increment below the rate of global economic growth. Their combined wealth also grew by 1.8% to US$61.3 trillion. While most parts of the world witnessed an increase in the number of wealthy person, Latin America and the Caribbean … [Read more...] about Vietnam named world’s fourth fastest-growing high net worth country