Many believe that Vietnam will become the next Thailand in terms of its tourist and second home appeal. Currently Vietnam is around 20 years behind Thailand in terms of its development, the number of tourists it attracts and also the prices charged for real estate but the rate of development by which Vietnam is improving is incredibly rapid.
Vietnam shares great natural attraction and appeal with Thailand and yet currently it offers a real estate investor far greater and broader potential for profit and long term investment success. Therefore while one can compare Vietnam to Thailand in terms of its beauty and charm, one cannot tie Vietnam’s potential to that of Thailand’s because Vietnam is beginning to emerge as an incredibly attractive real estate investment hotspot on many unique levels.
Firstly the development of Vietnam as a holiday destination is rapidly taking hold. In 2004 for example tourism numbers shot up by almost 24% and this is a pattern that the Vietnamese are keen to see emerge. Foreign investors have already realized the potential of the tourism sector and a joint Vietnamese and American consortium has already committed one billion US dollars to the development of tourism and recreation facilities for example.
Currently in the planning stages or under construction are six championship golf courses, a five star hotel resort, a marina, a yacht club and substantial villa and apartment accommodation to let to holiday makers. This particular billion dollar investment is being centered upon the Uong Bi Township and Nha Trang City in Khanh Hoa Province but investment opportunities are not limited to any one particular area of the country when it comes to tourism in Vietnam and the Vietnamese government is actively and successfully encouraging tourism based investment.
Such is the appeal of the entire country that an investor can pick and choose from well established locations such as Nha Trang or emerging destinations where infrastructure has yet to improve but where land prices are incredibly cheap and the potential for the future is very strong.
There are opportunities for investors in Vietnam’s main cites as well because the Vietnamese economy is expanding at an impressive rate, FDI figures are up and the long term outlook for the country is for sustained and sustainable growth which means many new companies are being attracted to Vietnam and creating employment opportunities and pushing up domestic purchasing power. This means that there’s potential to target local residential real estate needs, the commercial property market with office and retail space or even the corporate let market with many executives requiring a short term base in Ho Chi Minh City and Hanoi for example.
The economic growth targets that the Vietnamese government have set themselves for 2010 are to increase GDP annually by between 7.5 and 8 percent to ensure GDP is 2.1 times larger than it was in 2000 and so far they are on target to achieve this. The reforms they have exacted to get their economy working have so far proved successful and this bodes well for the property investor who should consider that Vietnam’s fortunes may actually be following China‘s not Thailand‘s and the potential in the Vietnamese real estate market could be as impressive.
Source: amberlamb.com
Không có nhận xét nào:
Đăng nhận xét