Laos is fast emerging as a land of opportunity for land developers, ahead of a highly anticipated launch of a new high-speed train connecting the Southeast Asian country with China this week.
Foreigners will be able to own condominiums in Laos once the authorities enforce the newly revised Law on Land.
The developer of the That Luang Marsh Special Economic Zone in Laos has spent $200 million on the project’s development since it began operations in 2012.
With the market for large lots slowing down, property owners have begun subdividing their land into smaller blocks to attract more buyers and spur sales.
The price of apartments in Vientiane is expected to have slightly decreased in the first three months of 2017 compared to the same period last year, say sector officials.
BIM Group Vietnam and Intercontinental Hotels Group, one of the world’s leading hotel companies, recently launched a new 197-room hotel in response to the growth of tourism in Laos.
Hotel in historic Vientiane underscores company's growing APAC footprint
Phongsavanh Group of Laos expects to cooperate with a major Thai property investor, Isaan Piman Group Co Ltd, on a condominium development in Thailand in the future.
Property investors are currently drawing up a law that will call on the National Assembly (NA) to consider foreigners to be able to purchase apartments, according to officials in the sector.
Apartment sales are expected to increase by up to 8-10 percent this year as developers offer more payment options for buyers, according to a leading real estate agent.