Foreign investment in real estate surges in January - August
Foreign investors poured a total of 2.4 billion USD into the real estate market of Vietnam in the first eight months of this year, five times the level over the same period last year, according to the latest updates from the General Statistics Office (GSO).
Phu My 3 Industrial Zone in Ba Ria - Vung Tau province. Real estate ranked second in terms of foreign investment from January - August, accounting for for nearly 20% of the registered total foreign direct investment (FDI) into the country. (Photo: VNA)
Hanoi (VNS/VNA) - Foreign investors poured a total of 2.4 billion USD into the real estate market of Vietnam in the first eight months of this year, five times the level over the same period last year, according to the latest updates from the General Statistics Office (GSO).
Real estate ranked second in terms of foreign investment into Vietnam from January to August, accounting for nearly 20% of the registered total foreign direct investment (FDI) in the period.
Existing projects increased their capital by 150,000 USD in the period, bringing the total foreign capital into the real estate sector to 2.55 billion USD, 3.7 times higher than the same period last year.
A sum worth around 1.27 billion USD has been disbursed in the period, double that of 2023.
According to Savills Vietnam, FDI is an essential factor for the market, especially industrial property, four segments which are benefiting most from the foreign capital moving into real estate, including retail, office and housing.
Savills’ statistics showed that there are 33,000 ha of industrial zones for lease in Vietnam, with an occupancy rate of 80%.
General Director of InCorp Vietnam Jack Nguyen said that global manufacturers are looking to shift their production base to Vietnam, pushing up demand and investments in industrial property.
🐽 Office and housing markets are also being inflated by macroeconomic stability and business expansion, he said./.
Real estate revenue in Ho Chi Minh City reached 173 trillion VND (over 7 billion USD) in the first eight months of the year, up 6.1% year-on-year, according to the HCM City Statistics Office.
Vietnam ranked 49th out of 89 economies in term of real estate transparency, according to a recent global real estate transparency index (GRETI) 2024 rankings by global property services firm Jones Lang LaSalle (JLL).
More than 17,100 apartments and land plots of real estate projects across the country remain on the market in the second quarter of this year, with land plots and houses doubling that of apartments, the Ministry of Construction (MoC) reported on August 14.
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In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
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Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
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