Business

HCM City: Luxury real estate attractive to Chinese investors

The hi-end property market in Ho Chi Minh City holds great attractiveness to Asian investors, especially those from China, according to CBRE Vietnam.
HCM City: Luxury real estate attractive to Chinese investors ảnh 1HCM City has been greatly attractive to foreign property buyers (Photo: VNA)

HCM City (VNA) – The hi-end property market inHo Chi Minh City holds great attractiveness to Asian investors, especiallythose from China, according to CBRE Vietnam.

The real estate services firm said on December27 that according to statistics on CBRE’s successful transactions in HCM City,Chinese buyers of hi-end apartments only accounted for 2 percent of totalcustomers in 2016 and 4 percent in 2017, but the rate surged to 31 percent inthe first nine months of this year.

The main reason is that since 2015, Vietnam hasallowed foreign investors to own property in the local market. Additionally,Vietnamese developers have also actively advertised their projects in othercountries. While a number of real estate projects were introduced in Singaporeand China’s Hong Kong in 2016 and 2017, they have been strongly promoted inBeijing and Shanghai cities of China this year.

CBRE said more Chinese investors have become interestedin HCM City’s property market because they saw the development similaritybetween the southern economic hub of Vietnam and Shanghai.

Three decades ago, Shanghai was almost like HCMCity at present with many undeveloped areas and low-rises. Now, it is one ofthe world’s leading financial centres with soaring property value.

[Video: Property market attractive to foreign investors]

On the other hand, in the past, most of foreignbuyers were those who lived or worked in Vietnam for many years. At present,thanks to developers’ active promotion overseas, more foreigners have come toknow the Vietnamese market and decided to purchase local real estate althoughthey haven’t set foot in the country.

In fact, they would later still come to thecountry to visit the items they intended to buy, CBRE noted.

Le Hoang Chau, Chairman of the HCM City RealEstate Association, said foreigners in Vietnam are very interested in the policyto allow foreigners to buy houses at commercial housing projects. 

Those from Europe, North America, Australia andJapan usually rent houses, while others from the Republic of Korea, Singapore,China and Hong Kong tend to make purchases, he added.-VNA
VNA
#hi-end property market in Ho Chi Minh City #HCM City's property market #foreign investment in Vietnam's property market #Chinese investors in HCM City's property market #Vietnamese real estate #updated Vietnam news #Vietnamplus #Vietnam News Agency Ho Chi Minh City China
Follow VietnamPlus

Related News

See more

Prime Minister Pham Minh Chinh speaks at the dialogue with the US business community in Hanoi on May 13. (Photo: VNA)

US businesses affirm long-term commitment to Vietnam

During the meeting, US delegates expressed appreciation for the Vietnamese Government’s goodwill and for its efforts to maintain a favourable investment climate. They proposed Vietnam continue enhancing its business environment by addressing bottlenecks in administrative procedures, non-tariff barriers, taxation, and fees, while ensuring infrastructure conditions, transparency, and rules of origin

Consumers at a supermarket in HCM City (Photo: baodautu.vn)

Vietnam, US push for balanced trade

Imports from the US are predicted to rise sharply in the coming months as large Vietnamese enterprises are accelerating purchases from the North American market in efforts to balance bilateral trade.

The reduction of bank staff will continue to be strong in 2025, as banks are promoting digital transformation and restructuring operations to improve cost management efficiency. (Photo: vnbusiness.vn)

Banks cut staff, transaction branches amid digital promotion

VietinBank will be the first bank in the country’s group of four largest State-owned commercial banks (Big4) to cut the number of its transaction offices. According to a plan released at VietinBank’s annual general meeting of shareholders (AGM) recently, the bank is expected to cut hundreds of transaction points to streamline the system in 2025.

The Binh Duong Centralised IT Zone is located within the Binh Duong Industrial – Service – Urban Complex. (Photo baobinhduong.vn)

Binh Duong develops new 16-hectare centralised IT zone

The establishment of a new centralised information technology (IT) zone in Binh Duong Province marks a significant step in the locality’s digital transformation strategy and its ambition to build a knowledge-based economy.

Workers manufacture electronic components. (Photo: VNA)

PM orders overhaul to improve business environment

The dispatch further highlights the need for comprehensive measures to enhance governance capacity, accelerate socio-economic progress, and improve the investment and business landscape with a clear emphasis on sustainable development and environmental stewardship.

Prime Minister Pham Minh Chinh (centre) and other delegates attend the groundbreaking ceremony for the Ninh Binh–Hai Phong Expressway Project’s section passing through Nam Dinh and Thai Binh provinces. (Photo: VNA)

Transport, industrial development essential for Thai Binh to be wealthier: PM

​The groundbreaking ceremonies of the Ninh Binh–Hai Phong Expressway Project’s section and the Hung Phu Industrial Park in Thai Binh affirm the government’s determination to create an attractive investment and business environment for both domestic and foreign investors; foster provincial and regional connectivity, generate momentum and open new development space for Thai Binh and the northern coastal region.

Representatives from Vietnam Airlines and Russia’s state-owned VTB Bank exchange the MOU on cooperation. (Photo: nhandan.vn)

Vietnam Airlines signs MoU on cooperation with Russia's VTB Bank

The MoU also demonstrates Vietnam Airlines' efforts to expand its partnership in the international market, while affirming its pioneering role in connecting Vietnam with the world, contributing to the sustainable development of Vietnam-Russia relations in the new period.

An auto assembly line at Kim Long Motor Hue in the Chân May - Lang Co Economic Zone in the central city of Hue. (Photo: VNA)

Vietnam eyes 8% growth in 2025 through strategic reforms

With decisive policy actions, proactive diplomacy and strategic reform priorities, the country is now aiming for an ambitious GDP growth target of 8% or more this year - a goal lawmakers and experts believe is within reach, provided key breakthroughs are implemented effectively.

Hanoi applies a model providing support in business establishment. (Photo: hanoimoi.vn)

Hanoi targets 30,000 new enterprises in 2025

By the end of 2024, the number of registered enterprises in the capital city reached over 400,000, with about 220,000 operating. Notably, more than 98% of the operating firms are SMEs which create jobs for 55.1% of the local workforce and contribute over 40% of the city’s gross domestic product (GDP).

Delegates press the button to activate TH Group's milk processing plant in Borovsk district in Kaluga oblast of Russia on May 11. (Photo: VNA)

TH Group inaugurates large-scale dairy processing plant in Russia

The plant has a total capacity of 1,000 tonnes per day, with the first phase producing 500 tonnes daily. All milk used at the plant is sourced from TH’s high-tech farms in the Moscow and Kaluga oblasts. TH milk boasts a high nutritional profile, with a fat content of 4.0% and protein at 3.2% — among the highest quality levels in Russia.