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Vietnam property ranks 4th among emerging markets
The Association of Foreign Investors in Real Estate has ranked Vietnam fourth among emerging markets behind Brazil, China, and India. Its 19th annual survey, done last quarter by the Wisconsin School of Business in the US, highlights trends in international property investment.
Respondents hold more than US$627 billion worth real estate globally, including $265 billion in the US.
Commenting on the survey, Peter Ryder, CEO of the Vietnam-based asset management firm Indochina Capital, said the Vietnamese property market has proven its attractiveness thanks to real domestic demand, the country's economic resilience, more open regulations, rapid urbanization, and the appearance of a new middle class.
VnEconomy quoted him as saying in its January 6 online edition that the market remains attractive to global investors despite the myriad challenges.
Noting Vietnam was not even ranked in last year’s survey, he said, however, the commercial and housing segments are back on the right track and this will continue through 2012.
Vietnam’s positive economic growth last year has created optimism among investors and a variety of realty products like offices and second homes have been introduced in Hanoi and Ho Chi Minh City, he said.
He pointed to the remarkable rise in demand for property for rent and as an investment.
Asked to compare Vietnam with other Asian markets, he said “it is hard to compare” but that Vietnam is very promising since supply is still limited in both of the nation’s economic hubs.
He believed since Vietnam will continue to urbanize housing and retail demand will remain very high, providing investors a golden opportunity.
Indochina Capital, founded in 1999, is one of Vietnam’s largest asset managers with around $500 million under management by its real estate arm, Indochina Land, and $50 million managed by its equities division.
vietnamnet, TuoiTrenews, TBKTVN
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