The first month of 2020 is almost over, and today we will try to understand how real estate in Vietnam has evolved. Why did we decide to focus on this very country? Well, as not many people know, Vietnam has aroused particular interest in recent years from a number of points of view. From tourism, to youth cultural exchanges, to real estate. In short, Vietnam has become a very special reality. That is why we have decided to look around a little bit, especially to understand both the hidden potential in this country and, above all, how the situation will evolve in the coming months of 2020.
So, if you are ready, we can go into the discovery of real estate in Vietnam!
According to the main surveys, Vietnam will once again receive around 20 million visitors this year, which is not a rare case! This is a trend that has increased over the last five years, reaching this very satisfactory figure. More visitors means an improvement in services. And, let’s not forget the most important value for our sector: more interest in real estate. The low taxation and the minimum cost of living, made many people decide to move here.
The average stay for vacationers is 5 days maximum 7 days for domestic tourists. For foreigners we are talking about 4 days. All well distributed both in luxury accommodation and in standard housing.
This means only one thing: a perfect start for Vietnam.
Having ascertained that 2020 will probably be a lucky year for Vietnam as well, let us now find out what the strengths will be. Land prices, although they may rise, are still particularly low. That is why, if you want to build your own house from scratch, you will find ‘fertile ground’ to do so!
New areas planned for redevelopment, urban regeneration areas and new techniques and investments in the construction sector, will undoubtedly allow a real upheaval in the real estate sector. The expansion of the offer will therefore be the first distinctive element that will bring new investors closer, ready to become part of the Vietnamese real estate.
The decisive role is and will be played by the mid-range apartments. Given that Vietnam is a “new” nation to these dynamics, there is a marked difference between the luxury segment and the standard segment. For this reason, it will be necessary to invest in the modernization and construction of mid-range apartments. Accessible to a range of investors significantly higher than any niche segment.
The only flaw that also represents a major slowdown in the Vietnamese real estate is that of the state hand, which is still too rigid in terms of licences and controls. Streamlining the bureaucratic apparatus, will be the key to Volta to be able to give a boost to the economic, social and above all cultural situation of this country.
It seems that Vietnam has all the cards in its own right to play in this 2020!
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