Making news

Foreign investors keen on real estate projects in Hanoi

Foreign investors are eyeing real estate projects in the northern region, particularly Hanoi, as they see the region’s potential, heard a conference held by the Commercial Real Estate Services (CBRE) Vietnam Company on January 4.

In 2017, Vietnam remained an attractive destination for foreign investors with total FDI capital registered in the country hitting a record high of 35.88 billion USD, up 44.4 percent against last year.

Real estate ranked third in terms of FDI attraction, accounting for 8.5 percent of the total registered capital.

According to CBRE, since 2017, many foreign investors have paid special attention to Hanoi’s property market.

They have joined hands with several big domestic investors to carry out projects, for example, Sumitomo Group’s deal in the northern side of the Red River which is expected to be a hot spot for real estate.

The Japanese group decided to participate in Vietnam’s real estate market through urban planning and infrastructure development.

Nguyen Hoai An, Manager of Research, Consulting and Asset Management Services at CBRE Vietnam, said that the intensive involvement of foreign investors in Vietnam’s real estate market will create positive changes in not only products but also methods on how to sell and introduce them, for example, selling real estate online.

Experts predict that increases in purchasing power and demand for houses will help boost the market’s growth in 2018.