Vietnamplus

The Ho Chi Minh City property market is expected to develop strongly in 2022 on the back of a number of infrastructure projects being completed or started during the period, experts said.

Impact of COVID-19 pandemic and the rising cost of investment has led to sharp decline in the profitability of rental apartments and shophouses.

The Ho Chi Minh City property sector has in recent years attracted billions of dollars worth of foreign investment due to its growth potential, real estate consulting companies have said.

Foreign direct investment (FDI) in Ho Chi Minh City rose sharply in the last nine months, with 5.47 billion USD poured into the southern economic hub over the period, up 50 percent year on year.

More sales were recorded in the domestic property market in January as compared to figures in December 2017.

The property market will continue to grow this year, the HCM City Real Estate Association (HoREA) predicts.

Ho Chi Minh City is becoming very popular with property developers thanks to the many infrastructure works planned for the area.

A lull in the Ho Chi Minh City real estate market is pushing developers to offer promotions to bring back buyers.

Ho Chi Minh City’s real estate market in the 2017-20 period will see major changes as supply and demand will gradually adjust, stabilising and strengthening the market, according to the city’s Real Estate Association.

The focus of development for Ho Chi Minh City’s property market shifted from the south to the east in 2016, experts said.

Strong recovery was seen in the Ho Chi Minh City housing market in 2015, particularly in the mid- and hi-end segments, according to an expert from CBRE Vietnam.