Japanese Investors Learn More About Vietnamese Property Market

Illustrative image. Photo: cenhomes.vn

180 Japanese business representatives and financiers attended the Vietnam Real Estate Seminar which was organised on April 1 in Tokyo by Vinhomes Joint Stock Company in collaboration with VietnamGroove Real Estate Business Investment Joint Stock Company, VOV reported.

The event aims to help Japanese investors gain a better understanding and provide deeper insights into the Vietnamese property market.

Upon addressing the event, Counselor Tran Thi Thu Thin, representative of the Vietnamese Embassy in Japan, welcomed the fact that Vinhomes and Vingroup are actively returning to the Japanese market after three years of being affected by the Covid-19 pandemic. Simultaneously, she expressed her hopes that this seminar will provide a good opportunity for Japanese businesses and investors to better understand the investment environment in Vietnam, as well as offering co-operation opportunities with Vinhomes.

“The Vietnamese Government as well as the Vietnamese Embassy in Japan will always accompany and create favorable conditions for Japanese businesses to make successful, sustainable and long-term investments in Vietnam as a contribution to bringing Vietnam-Japan relations to new heights,” Thin said.

An overview of the seminar. Photo:VNA

For his part, Nguyen Duc Quang, deputy general director of Vinhomes, said that 2022 represented a challenging year for the Vietnamese real estate market. However, Vinhomes continued to set unprecedented sales records. By the fourth quarter of 2022, Vinhomes became the leading real estate developer in the country by accounting for 27% of the market share.

“Vinhomes will continue to develop megacities of thousands or tens of thousands of hectares, with a world-class scale and class, pioneering model cities in the green-smart era, and being proud to put Vietnam on the global urban map,” Quang emphasized.

At the seminar, Japanese investors highly appreciated the potential of the Vietnamese real estate market.

Nobuaki Higashi, head of Overseas Sales Department of Nomura Real Estate Development Co., Ltd., said that Nomura understands the potential of the nation’s real estate market because the country recorded a high economic growth rate of approximately 8.2% in 2022 and is in the midst of a golden population structure.

Therefore, the Vietnamese economy in general and the real estate market in particular will continue to grow strongly moving forward, he added.

According to Higashi, Nomura is involved in investing in eight projects throughout Vietnam, with a total scale of 24,000 apartments.

“We have devised two strategies, including investing in many places with a focus on Ho Chi Minh City and Hanoi, and combining many forms of investment, not only in the housing sector, but also in the transportation and hotel sectors. In the future, we will also consider investing in the development of villas.”

An overview of the seminar. Photo:VNA

Regarding the potential of the Vietnamese market, Shin Aoki, an official of the Urban Renaissance Agency (UR), said that Vietnam is a favorite destination among Japanese businesses, including real estate businesses, adding that in the near future, many Japanese firms will continue to pay attention to and invest in the country.

UR is in the process of studying to cooperate with Vietnamese businesses to invest in the field of apartments and houses, he continued.

During the seminar, there were presentations and discussions held on potential and investment opportunities in the Vietnamese real estate market.

Furthermore, Vinhomes representatives also introduced the projects that the company has set up to launch with Japanese partners such as Mitsubishi and Nomura. In addition, it answered questions raised by Japanese investors about the process and procedures for investment in the Vietnamese property market.

Vietnam is among the top five destinations selected by Ultra High Net Worth Individuals (UHNWI) in Singapore for their real estate investment plans, according to the Wealth Report 2023 released by Knight Frank.

With its rapid growth, Vietnam is seen as one of the prominent investment destinations of UHNWI in the region. Cities and coastal and rural areas in Vietnam always remain high potential for real estate investors.

According to Alex Crane, Knight Frank Vietnam's Managing Director, Vietnam’s real estate market still offers opportunities for investors to tap.

Recently, Prime Minister Pham Minh Chinh has just signed a document requesting more efforts to promote the development of and remove obstacles to the real estate market.

He asked ministries, agencies and People’s Committees of provinces and centrally-run cities to strictly follow the Government’s resolution dated March 11, 2023 on several measures to solve difficulties for and promote the safe, healthy and sustainable development of the market.

Resolution No 33/NQ-CP focuses on promoting the safe, healthy, and sustainable development of the real estate market. Its key objectives include improving institutions, promoting social housing development, and enhancing accountability through the promotion of capital sources from credit and corporate bonds.

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