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Vietnam property market becomes more attractive to foreign investments

06:45 | 22/07/2020

Vietnam has been named a "Semi-Transparent" market in the 2020 Global Real Estate Transparency Index (GRETI) by Jones Lang LaSalle (JLL) thanks to the progress in its largest markets, HCM City and Ha Noi. 

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vietnam property market becomes more attractive to foreign investments
In the 2020 Global Real Estate Transparency Index, Vietnam is ranked 56th position (Photo: Integrated Enterprise)

In the 2020 Global Real Estate Transparency Index, Vietnam is ranked 56th position, according to Vietnamnet.

Vietnam's ranking continues to rise in the list of transparent property markets, turning luxury projects more attractive to foreign investors.

JLL and LaSalle have been tracing real estate transparency and championing higher standards since 1999. The 11th edition of GRETI covers 99 countries and territories, and 163 city regions. The latest survey has been extended to quantify 210 separate elements of transparency, and has additional coverage of sustainability and resilience, health and wellness and alternatives sectors.

vietnam property market becomes more attractive to foreign investments
Real estate is still a channel of interest to investors (Photo: Integrated Enterprise)

Stephen Wyatt, country head of JLL Vietnam, said: “It is no surprise that Viet Nam has moved from ‘Non-transparent’ to ‘Semi-transparent” in our latest transparency index. Over the past 10 years, Viet Nam has become a top destination for manufacturing in Southeast Asia and attracted significant foreign investment. Viet Nam will need to continue rising up the rankings if it wants to attract more foreign investment.”

According to CBRE, in the first six months of 2020, the Hanoi market recorded 7,200 new launches. In particular, the number of open apartments in Q2 was 3 times higher than the previous quarter.

Experts affirmed that despite the social distancing period due to Covid-19, real estate is still a channel of interest to investors because of its stable and safe profitability. When the economy is showing signs of recovery, real estate is also prospering, informed Integrated Enteprise.

vietnam property market becomes more attractive to foreign investments
Vietnam and Southeast Asia have become attractive destinations (Photo: VNA)

JLL said that the 2020 index has been launched at a time of massive economic and societal disruption where the need for transparent processes, accurate and timely data and high ethical standards are in closer focus.

The backdrop of Covid-19 also ensures that transparency within Asia Pacific's real estate legal and regulatory systems is more important than ever to global investors, as they look to deploy USD 40 billion in dry powder capital into the region.

In its previous report JLL said that Vietnam and Southeast Asia have become attractive destinations for foreign investors who wish to move out of China. Besides, many multinational companies have expanded their business in Vietnam.

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Candy Lee