Vietnam is forecast to become key real estate investment market in the near future, according to Sanjay Verma, managing director of Cushman&Wakefield in Asia-Pacific.
In an interview with the local newspaper Bao Dau Tu (Vietnam Investment Review), Sanjay said about 50% of mergers and acquisitions (M&A) deals in the real estate field globally are done in Asia.
According to Sanjay, there are three types of real estate markets in Asia.
The first is the main markets such as Singapore, Malaysia and Hong Kong. Investments in these markets are mainly aimed at the conservation of capital flows. The profits may be not high but the capital is guaranteed and low risk.
The second is the emerging markets like China and India. Investments in these markets are for the purpose of regulating capital flows faster and increasing the investment cycle.
Vietnam can be classified in the third market type namely future markets. The economy, which is growing and gradually becoming more stable, will create investment opportunities with high profit in the future.
According to Sanjay, Vietnam property market is open and the supply is relatively good. This year, the segments of Vietnam property market will have little variation. There are some segments of the downward volatilities. For example, office leasing segment will not increase but tends to decrease due to plentiful supply.
Retail space market segment could develop in the future. In the office segment, there is too much supply.
Segment of apartments for sale is mainly for investors and speculators, while objects with real needs are difficult to reach. Currently, investors in this segment have begun moving into investing in apartments with average price levels for people with real needs.
In the next 2-5 years, the industrial zone segment will also attract many investors as human resource as well as infrastructure in Vietnam is being improved significantly.
According to Sanjay, for investment in industrial zones, presently, Cushman & Wakefield - one of the world's leading private company in providing real estate services - is also working with investors globally. They also intend to invest in Vietnam when they see many opportunities.
Sanjay said that Vietnam will become a key investment market and have more opportunities to attract foreign investors.
Vietnam needs to invest heavily to improve the investment environment and care about the human resource development.
The real estate project developers need to focus more on criteria in design and project management methods and a clear plan to create space for good project development. - Source: Vietbiz24
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