Foreign Investors Bought House Increasing Up Dramatically

According to a report on the real estate market in HCMC in the third quarter of 2017 by Savills announced on October 10, the number of successful transactions for foreign customers increased dramatically.

According to the report of Savills, in the third quarter of 2017, in the segment of HCM City apartment segment increased strongly. Accordingly, the market welcomed 13 new openings and the next phase of 16 existing projects, bringing the total primary stock to stand at 35,000 units. Trading volume continued to stand at a very high level with 11,500 units, a slight decrease of 2% compared to the second quarter of 2017 but up 48% over the same period of 2016.

Of these, new projects accounted for 32% of total market transactions. Grade A and B have the good business. Particularly, the Grade A apartment segment has 550 transactions, a sharp increase of 149% quarter-on-quarter.

Foreign investors bought house increasing up dramatically

MOLISA currently has more than 83,000 foreign experts living and working in Vietnam. Their average income is nearly $90,000 a year

Market observation shows that the number of apartments traded on the primary market in the first nine months exceeded the sales for the whole of 2016. And Grade C occupies a large proportion in the transaction structure. Projects in Districts 8, 7 and 2 are the market leaders in terms of transaction volume, representing 16%, 12%, and 11% of market share.

Foreigners are playing an increasingly important role in the A, B and luxury segment. According to a survey by HSBC Bank in 2017, 29% of respondents said that experts living and working in Vietnam said they intend to use their savings to invest. into the real estate market.

The income of experts working in Vietnam is relatively high, up to nearly $ 88,000 per year. Together with the Law on Real Estate Business, foreigners are allowed to buy houses and with the development of infrastructure and living conditions, they are becoming more and more attractive to foreigners living, stabilizing a long time, investing profitability in Vietnam.

Pham Van Dai, head of research at Savills in Ho Chi Minh City, said: “The medium and high real estate market in Vietnam is significantly lower than that in other countries in the region. In addition, the profitability of investing in the apartment segment, the houses are getting higher and the expected increase in property values will continue to increase in the future. These are the basic and fundamental factors that motivate foreigners who have been living in Vietnam to invest in this market.

Foreign investors bought house increasing up dramatically

Foreign investors, when deciding to invest, have relatively stricter standards than domestic buyers.

“According to Savills statistics, in the first nine months of the year, over 850 Grade A and B apartments were sold to foreigners in Ho Chi Minh City, an impressive number since the Law on Business real estate allows foreigners to buy formal homes effective from 2015 “- Mr. Dai stressed.

Foreign investors, when deciding to invest, have relatively stricter standards than domestic buyers. For example, they have very high requirements on the design, location, utility, legal status of the project, the clarity of the contract of sale, prestige of the investor …

Although the market for foreigners is very potential, to reach this customer is not an easy problem and not every investor has the potential, experience, location attractive project. with this segment. For projects that fully meet the criteria above, the number of foreigners buys very largely, even exceeded room 30% regulation.

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