Many giant housing real-estate developers in HCM City are flocking to the hospitality segment by developing or distributing new projects in tourism areas.
A large number of companies from Europe, the Republic of Korea, Japan, and China are choosing to invest in building manufacturing facilities in Vietnam, promising a boost to the development of the industrial property segment.
The developer of a casino resort project in the southern province of Ba Ria-Vung Tau is asking for another extension to the required completion date of the already-delayed complex due to low business efficiency.
Among the most reputable developers in Vietnam’s luxury residential market, Hongkong Land has just introduced its second condominium project in the heart of Ho Chi Minh City – The Marq. Since the market has long been waiting for a project that is a combination of a prestigious location, luxurious interior provision and built by a renowned regional developer, The Marq has immediately attracted attention from potential buyers as well as sales agents.
The domestic property market showed stable development in the first quarter of this year with the emergence of potential new property trading regions.
Despite attracting investors and operators by the droves from across the nation and the globe, the hospitality and second-home segments remain embattled and outmoded. Developers have to create new experiences if they want to be more competitive.
While housing prices are now beyond the reach of medium- and low-income earners, the low-cost housing segment has become smaller to the point of almost disappearing from the property market.
Danang envisions transforming itself into a smart city in three stages with the total cost of about VND2.1 trillion ($91.3 million).
Vietnam is considered one of Asia’s most vibrant property markets and a long-term strategic area for Savills. VIR’s Quynh Chau talked with Mark Ridley, newly-appointed Group CEO for Savills, on his assessment of the Vietnamese real estate market and its role in Savills’ development strategy.
The Hanoi apartment market was strong in Q1 with the number of transactions rising by 65 percent against Q4 2018, according to JLL.