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In Q1-2015, real estate ranks second in Vietnam’s FDI attraction

According to the report on HCMC real estate market in Q1-2015 issued on April 2, CBRE Vietnam said that Vietnam economy is growing the fastest in three years with a growth rate of 6.03pct, which is led by two sectors, including industrial manufacturing and foreign investment. The report stated that the real estate market ranks second in Vietnam's total FDI attraction, accounting to 9pct. In Q1-2015, there are 19,000 newly-established firms, in which new property firms increased 49pct year-on-year. Additionally, the report also focused on three main segments of the market: apartment for sale, retail and office for lease. Marc Townsend, Managing Director of CBRE Vietnam, said the market is witnessing the strong return of many projects with larger scale and more complicated planning. The retail market saw its prices increase slightly in both central area and suburbs of HCMC and an occupancy rate of 75-80pct in spite of negative influence from economic crisis and increasing supply. Meanwhile, Duong Thuy Dung, Head of Research and Consultancy at CBRE Vietnam, said that the office market will ignore low-quality supply even though customers are still waiting for new supply