Real estate investors can consider Vietnam to present them with the same opportunities as Thailand did some twenty years ago. It is a stunning country with a very young, well educated, hard working and literate population and it’s a destination of wide appeal to both holiday makers and those seeking a unique second home location.
Politically and economically speaking Vietnam is in transition and improving, developing and stabilizing. While land law is still evolving and certain domestic issues can cause problems for property developers in Vietnam, the real estate investor should have confidence about the long term profitability of any investment made into the property sector country wide.
From Hanoi in the north of Vietnam to Ho Chi Minh City in the south, Vietnam has towns, cities, islands and resorts offering an investor an unrivalled choice of residential and commercial opportunity at currently very attractive prices.
Beginning with Hanoi: the city may be Vietnam’s capital city but it is not the largest city in the country, nevertheless it is enjoying substantial inward investment into commerce and industry while at the same time managing to retain its unique laid back charm. The city is therefore becoming as popular with multinational companies and their expatriate employees as it is with overseas visitors and it is becoming both a budget and package tourist hotspot. Visitors are attracted to the contrasting modern skyscrapers and the timeless lakes, gardens and wide, shaded boulevards and the city is highly accessible with an international airport on its doorstep.
Hanoi has opportunities for the investor in the residential and commercial rental real estate market and it offers developers a chance to create anything from office and retail space to satellite towns to service Hanoi workers with affordable and desirable suburban properties. The latter opportunity also exists in Ho Chi Minh City in southern Vietnam which is such a vibrant and exciting city that has grown to become the largest in the entire country. Accommodation issues in Ho Chi Minh City are beginning to push rental prices up.
Ho Chi Minh City has become the business centre of Vietnam and has one of the fastest growing micro-economies in the world. As a result it is drawing substantial and sustained investment from overseas and its population is swelling. The Vietnamese government are considering proposals to develop satellite townships to house city residents and investment is being sought for the North-West New Township, Thu Thiem New City Centre and Nam Rach Chiec Residential Complex currently. When in the construction phase, these developments will offer investors a chance to buy off plan and either flip or rent properties for profit.
For the second homer or those wishing to tap into the growing tourist market along Vietnam’s 3,444 km of coastline or around its thousands of pretty islands in Halong Bay there are various already established resorts that are growing in popularity and sophistication. One of the best is Nha Trang with its excellent diving and stunning beach. It is also an area attracting some intense real estate interest and a part of Vietnam that has been compared to Thailand’s exciting resort of Pattaya Beach.
The stunning natural beauty of Vietnam with its palm fringed beaches, lush forests and impressive mountains coupled with the Vietnamese government‘s commitment to attract trade, commerce and to open the economy and the country up to external investment point to a prolonged period of fiscal improvement. And real estate investors should recognise Vietnam as having one of the most exciting emerging property sectors in the world - one offering such a broad range of opportunity at incredibly affordable prices that it deserves closer inspection.
Source: amberlamb.com
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