The Vietnam Association of Realtors said that up until recently, the resort realty market was gloomy, with nearly 3,200 products launched into the market in 2023, falling 80% year-on-year, and only 700 apartments absorbed.
However, international investors have bought out Vietnamese properties through mergers and acquisition deals.
Foreign investors are in the market for top-notch hotels and resorts in urban hubs like Hanoi and Ho Chi Minh City.
International hotel brands have steadily expanded their presence in Vietnam, increasing from under 50 branded hotels in 2013 to nearly 200 today.
Experts said foreign firms have taken aggressive positions in Vietnam by taking advantage of the attracting pricing of hospitality properties to bolster investment, waiting for the market recovery and development./.
