Developing and living in luxury residence-hotel complexes are rising trends among property developers and buyers and lessees thanks to the high rentals and resort-like living environment.
The great Trang Bom land rush. I was there, and it wasn’t pretty.
Vietnam, with its young demographic, growing incomes and large population, is considered a hugely promising market for retailers.
The trends will contribute to helping navigate foreign investors in Vietnam.
Hotels across Hanoi are closing up shop and letting staff go as the coronavirus outbreak slashes both tourist and revenue numbers.
New shopping malls are anticipated to enter the market, mainly on the city’s outskirt. Meanwhile, retailers and mall developers are reinventing themselves to provide a variety of entertainment and lifestyle activities.
While there are few, if any, signs of the real estate bubble bursting in 2020, the Ministry of Construction said that land prices could increase in some areas.
Vietnam is seen as one of Southeast Asia’s most attractive real estate markets for foreign investors, so local property developers can easily seek partners through merger and acquisition (M&A) deals.
The supporting industry boosted the development of Vietnam's industrial real estate market last year, along with creating new emerging hubs and pushing second tier cities forwards, according to CBRE Vietnam Co, Ltd.
Land prices in Ho Chi Minh City in the 2020-2024 period will be kept stable, with the highest price listed at VND162 million per square meter and the lowest, VND1.5 million, helping stabilize market prices.
Apartment prices surged in Saigon last year as new supply plunged to its lowest in four years largely due to limited supply caused by ongoing restrictions to approval procedures.
With 50 five-star hotels and 68 four-star hotels being built last year, the luxury segment now has 466 hotels with 97,098 rooms, according to a report released by the Vietnam National Administration of Tourism.
Foreign tourists are keen to attend Vietnam’s first F1 motor race, due to kick off in April in Hanoi, but local tour operators are struggling to arrange tours in that month due to hiking hotel prices in the capital city.
The outlook is decidedly bullish for Vietnam’s residential market in the long term.
The real estate market of Hanoi saw high demand for Grade A apartments for rent and sale in the third quarter, according to Savills Vietnam’s quarterly report on Hanoi's property market.
The beauty of Danang’s nature and people had been showcased in a video that went viral called “Danang is Awesome”. Take a look!