Chinese buyers eyes on cheap real estate sector in Vietnam
Vietnam has become an up and coming property investment destination among Chinese and Hong Kong buyers with real estate prices lower than in other Southeast Asian countries.
Low prices in Vietnam, one of world’s fastest growing economies, and the desire for Chinese buyers to diversify their portfolios given their limited assets overseas, make markets like Ho Chi Minh City, Hanoi particularly attractive. A high end property in c Ho Chi Minh City costs $3,000 to $6,000 per square meter where as in Bangkok it costs around $7,000 to $9,000 per square meter.
Relaxed restrictions on foreign property ownership in Vietnam are also believed to have facilitated the surge in Chinese buyers but bureaucracy still is a barrier.
Demand for properties in Vietnam among Chinese buyers surged 300 percent year-on-year in the first quarter of 2018 and is expected to rise in the coming months.
There is a warning given by the real estate analysts that the real estate ptices can foam up anytime. Also, Local residents and real estate agents said the price doubled from last year’s.