{"id":15846,"date":"2016-06-08T14:57:26","date_gmt":"2016-06-08T07:57:26","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnams-real-estate-dragon-ascends\/"},"modified":"2016-06-08T15:01:14","modified_gmt":"2016-06-08T08:01:14","slug":"vietnams-real-estate-dragon-ascends","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnams-real-estate-dragon-ascends\/","title":{"rendered":"Vietnam\u2019s real estate dragon ascends"},"content":{"rendered":"


\nVietnam\u2019s recent strong macroeconomic performance and foreign direct investments have served to supercharge the country\u2019s thriving property sector even further
\nMajor property markets in Vietnam such as the capital Hanoi are coming up smelling of roses in the current market surge
\nThis is Part One of\u00a0Property Report\u2019s three-part series on the rebirth of Vietnam\u2019s property market
\nBy Thomas Maresca
\nIt doesn\u2019t take a genius to see which direction Vietnam\u2019s residential property market has been going in recent times: straight up, as a cursory survey of the skyline in Ho Chi Minh City will affirm. Cranes slash the sky as the city sprouts dozens of soaring apartment complexes, including what will be Vietnam\u2019s tallest building, the 81-storey anchor of the Vinhomes Central Park Residence Project.
\nDevelopment is spreading not just vertically, but radiating outwards as well, as neighbourhoods outside of the central business district get in on the act. The capital Hanoi, not to be outdone, has been witnessing its own robust property boom.
\nResidential properties are at the front end of the growth, accounting for a string of headline-grabbing signature developments. According to research by CBRE Vietnam, approximately 41,787 units were launched in Ho Chi Minh City in 2015, 2.2 times more than the previous year.
\nHanoi showed a 70 percent annual growth, with an estimated total 28,283 units launched across all different segments.
\nMore: Investing in Vietnam \u2013 HCMC vs Hanoi
\nActivity has continued into the first part of 2016. In Ho Chi Minh City in Q1 2016, the condominium market saw a 38 percent year-on-year growth in new supply, totalling 7,708 units. Hanoi\u2019s Q1 launches fell 18 percent, year-on-year, with 4,318 units launched from 16 projects. However, sales activity remained robust, with 4,048 units sold, for a small year-on-year decrease of 5 percent.
\nEnthusiasm among buyers is sky-high. Investors have been flocking to sales events, which have become full-fledged spectacles filled with flashing lights, blaring music, glamorous presenters and throngs of eager customers.
\n\u201cPeople are buying, and queuing to buy, if you go to some of those events,\u201d says Marc Townsend, managing director of CBRE Vietnam and one of the judges of the Vietnam Property Awards 2016. \u201cI didn\u2019t expect to see that again in my lifetime. The last time we had a cycle like this was in 2007.
\nMore: Is Vietnam\u2019s property sector getting too hot for the government\u2019s comforts?
\n\u201cBut there was no bank lending at that time, and no one was really in a hurry to go and live in District 7, no one was really in a hurry to go and live on the far end of the East-West Highway,\u201d he says, referring to areas outside the Ho Chi Minh City centre that have now become hotspots for development.
\n\u00a0
\nHo Chi Minh\u2019s impressive skyline i indicative of the dynamic nature of Vietnam\u2019s southern hub
\nThe boom is undergirded by Vietnam\u2019s strong recent macroeconomic performance. Supported both by foreign-invested exports and domestic demand, the economy grew 6.68 percent last year, beating government estimates of 6.2 percent. GDP has taken a downturn in Q1, this year, dipping to 5.46 percent \u2013 its slowest growth in two years, dragged down significantly by an agricultural sector that is taking a beating from the country\u2019s worst drought in 90 years. The industrial and construction sectors still managed a 6.72 percent growth, and committed FDI is up 119 percent year-on-year, to USD4 billion.
\nBut will the boom continue to be a boon?\u00a0Come back tomorrow for Part Two.
\nThis article originally appeared in Property Report magazine\u2019s Issue no. 136.
\n
\nSource : property-report.com
\nRead more…Vietnam\u2019s real estate dragon ascends<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Vietnam\u2019s recent strong macroeconomic performance and foreign direct investments have served to supercharge the country\u2019s...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-15846","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-47A","jetpack-related-posts":[{"id":87287,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vinhomes-raises-1-35bn-in-vietnams-biggest-share-offer\/","url_meta":{"origin":15846,"position":0},"title":"Vinhomes raises $1.35bn in Vietnam\u2019s biggest share offer","date":"May 7, 2018","format":false,"excerpt":"\r Vietnam\u2019s largest residential developer prices shares at top of marketed range\r \r Source : ft.com\r Read more...Vinhomes raises .35bn in Vietnam\u2019s biggest share offer","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13692,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnams-new-leaders-grapple-with-debt\/","url_meta":{"origin":15846,"position":1},"title":"Vietnam\u2019s new leaders grapple with debt","date":"May 20, 2016","format":false,"excerpt":"\r Amorphous government reflects preoccupation with economic and political stability\r \r Source : ft.com\r Read more...Vietnam\u2019s new leaders grapple with debt","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104157,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnams-luxury-property-market-draws-well-heeled-domestic-buyers-and-foreign-investors\/","url_meta":{"origin":15846,"position":2},"title":"Vietnam\u2019s luxury property market draws well-heeled domestic buyers and foreign investors","date":"February 19, 2019","format":false,"excerpt":"\r The Grand Manhattan embraces the latest in New York living.The 39-storey development will house flats, a hotel, restaurants and some of the most expensive real estate in the country. But instead of Central Park views, it\u2019s located in Ho Chi Minh City\u2019s District 1, better known as Saigon\u2019s Wall\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16070,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-the-foreseeable-future-holds-for-vietnams-property-sector\/","url_meta":{"origin":15846,"position":3},"title":"What the foreseeable future holds for Vietnam\u2019s property sector","date":"June 10, 2016","format":false,"excerpt":"\r Will the impact of the Law on Residential Housing be felt in 2016? This is the conclusion of\u00a0Property Report\u2019s three-part series on the rebirth of Vietnam\u2019s property market. Read\u00a0Part One and Part Two here. By Thomas Maresca The changing nature of buyers and the diversity and quality of developments\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111622,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-investors-make-a-beeline-for-vietnams-luxury-real-estate-until-their-passports-run-into-a-wall-over-south-china-sea-dispute\/","url_meta":{"origin":15846,"position":4},"title":"Chinese investors make a beeline for Vietnam\u2019s luxury real estate, until their passports run into a wall over South China Sea dispute","date":"October 16, 2019","format":false,"excerpt":"\r A territorial dispute between Hanoi and Beijing is denting Chinese investors\u2019 demand for Vietnam\u2019s luxury homes.\r\rUnder Vietnamese law, foreign buyers are required to submit their passports to secure a document from the government to grant them ownership of a flat. 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