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Viet Nam is the world’s fastest growing group of people with the highest net assets

Viet Nam is the world's fastest growing group of people with the highest net assets

The highest net asset value (UHNWI) in Vietnam has grown to 320% – the highest rate in the world from 2006 to 2016.

According to Savills, while Vietnam is still a developing country, HNWIs (individuals with high net worth) have increased significantly in the past 10 years.

The Wealth Report, released by the UK-based independent property consultancy Knight Frank, reports that people with extremely high net worth (UHNWI) in Vietnam have grown by 320% the highest in the world from 2006 to 2016, followed by India and China.

Viet Nam is the world's fastest growing group of people with the highest net assets
Viet Nam is the world’s fastest growing group of people with the highest net assets

The Wealth Report also said that the index is expected to increase by 170% between 2016 and 2020, and still be the fastest growing in the world at this stage.

The rapid growth of super-rich groups is the basis for Savills to believe that the high-end real estate segment in Vietnam has bright prospects.

“With the new supply of high-end properties being limited throughout the city, we expect prices to remain generally high and quality projects and good locations will be absorbed quickly.” , reports Savills.

According to Savills, new home prices in downtown. HCM average $ 5,500 – $ 6,500 / m2. This is equal to 25% of the average value of real estate in Taiwan and a fraction of Hong Kong, where prices are always high at all times.

Price comparability is also an attractive feature of Vietnamese real estate for foreign investors.

“In Taiwan, property owners are subject to additional taxes and fees, while buyers in Vietnam only need to pay a 10% VAT and one-time payment of a 2% maintenance fee.

“In addition to these advantages, the demand for real estate investments in the Vietnamese market has increased significantly since 2015 when the Housing Law was opened to international investors because prices are more attractive than with what they can buy in the home market, “Savills reports.

This unit commented that the high-end segment in Vietnam tends to have high growth, long-term investment opportunities and the potential for higher cost of capital as Vietnam is well on the way.

“In other words, although the path to development like Hong Kong and Singapore is still very long ahead, the future becomes a” Asian tiger “in Vietnam is still within reach, when resonated by the background macroeconomic stability, more and more middle class and especially keep the price affordable, “concluded Savills.

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