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Middle class changing the look of property market

Together with the rapid-growth of middle class, demand on enjoyment and investment in high-value assets like properties has increased significantly over recent years. The growing wealth of middle class has created new standards of property products, making competition become even fiercer. Domestic investors do not only compete with each other, but also have to watch out of foreign investors. Over two years, Chow Tai Fook, China Fortune Land Development, Hongkong Land, CapitaLand, Hankyu Realty, Nishi Nippon Railroad, Pressance Corporation… has gradually penetrated Vietnam real estate market via many M&A activities. Duong Thuy Dung, Senior Head of VBRE Vietnam, said that people’s income and investment activity in real estate always go hand-to-hand. When people have money to spend, real estate becomes a safe, sustainable investment channel. However, the growth of consumer’s finance also means that they will become even pickier, requiring property investors to invest more in quality and design to make their projects distinguishable.