Vietnam: rising New apartments, new houses prices Sale/Rent

Vietnam is flooded with new construction, and its real estate market is sizzling hot.  Boosted by recovery from the housing bust of 2009-2013, by a booming economy, and by the Housing Law and the Law on Real Estate Business (effective July 1, 2015), which allows foreigners and overseas Vietnamese to legally own, sell and transfer real properties (subsequently fleshed out by Decree No 99 (effective December 10, 2015) and by Circular 19 (effective August 15, 2016)), real estate prices in Vietnam have been rising rapidly.

The law – and the subsequent liberal decrees – are hugely important.  And the result has been a boom.

Real estate investment opportunities in Vietnam look strong for 2017

Southeast Asia remains a bright spot amid a subdued global economic outlook, as ASEAN economies continue to grow at 5 percent per year compared to a global growth rate of 3.5 percent per year.

According to data released by real estate consultant JLL, Vietnam is a rising star in terms of real estate investment with strong opportunities in the office, residential and retail sectors. Occupancy of Grade A office space in Ho Chi Minh City exceeded 95 percent in Q4 2016, while retail occupancy in the city’s CBD was over 92 percent for the same period. In the residential sector, the number of new apartments launched increased 46 percent from 2015 to 2016.
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Vietnam real estate market transparency improved

In Vietnam, transparency in real estate market has always been a hot topic. According to the JLL’s 2016 GRETI report, Vietnam is classified as country with low-transparency (being ranked 68 out of 109 countries). However, the market has shown signs of improvement during the past two years. In 2014, Vietnam was classified as a country with low-transparency and in 2016 the country is considered “on the cusp of Semi-transparent”.
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