2016 is the time to observe the real estate market of foreigners before the investment is really attractive in the real estate market in Vietnam and is specified by the purchasing power of the customer.
In the first two months of 2016, most technical parameters in the North and South markets were positive. After the expatriate advisors report a promising 2016 for real estate, we have a quite detailed report on the real estate market in Vietnam.
Real Estate Vietnam 2016 continues to be an attractive investment channel for foreigners
According to the Vietnam Real Estate Association, with a totally new and additional registered capital of just $10.06 million, real estate fell out of the group and fell to No. 9. January Real Estate market only has 4 new projects and 2 projects increased capital.
However, in relation to the recently revised regulatory framework, the Vietnam Real Estate Forecasting Association 2016 will continue to be an attractive investment channel for foreigners.
Specifically, the 2014 Housing Law (effective July 1, 2015) allows foreigners and Vietnamese expatriates to buy and own houses in Vietnam that have immediate positive effects on the Vietnamese real estate market.
Although the foreigners are much attention, Vietnam market has not created a surge
Nevertheless, VNREA acknowledged that regulations for foreigners, overseas Vietnamese to buy houses can not immediately create a surge in the real estate market. Although effective from 1 July, it is not until the end of October 2015 to issue a guiding decree and on December 10th 2015 the new decree will take effect.
From the initial effects of management policy, the Association has expressed the view that since late 2014, the real estate market in Vietnam has seen positive changes compared to the period of 3-4 years ago, especially in the residential segment, a large number of new projects have been launched in two big markets, Ho Chi Minh City and Hanoi.
At the same time, more stringent regulations in new policies have protected the interests but equally open to customers such as the extension of land use or credit guarantee … thereby stimulating the amount the demand is not small for the real estate market, among the buyers are also foreigners.
Which new segment is the foreigners are interested in?
The interest of foreign guests in Asia in Vietnam real estate is increasing, especially when the regulation allows foreign individuals and organizations to own houses in Vietnam.
Although the potential of the residential segment for foreigners is well appreciated, many experts say that this segment is not for many investors.
Explaining this, VNREA analyzes that foreigners are so skilled that real estate projects must meet international standards to make them interested.
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At the same time, prices for foreign customers may not be important, but issues of particular concern are security, safety, utilities, especially school and living standards international.
The reality of 2016 and special expectations until 2018
In fact, since the real estate crisis and the rapid recovery of the past two years, projects that meet international standards are only counted in two north-south markets.
Referring to the intrinsic factor, VNREA appreciates that foreigners are reluctant to choose a project because of the way the marketing, consultancy, support of local investors or brokers are doing in the old fashioned way with local customers. In addition, there are some regulations that allow foreign investors to own real estate in Vietnam is still unclear to foreigners still fears, apprehension.
So, 2016 will be the year for foreign customers to observe the real estate market in Vietnam. Expectations in the coming years, especially when FTAs come into effect in 2018, foreigners will be able to contribute to the excitement of Vietnam’s real estate market.
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