Singapore conference names Vietnam as most attractive and best operating market in region.
Vietnam was chosen as the most favored property market in the region at a conference on real estate held in Singapore, out the host city and the Philippines, Thailand, Myanmar, Malaysia, and Indonesia.
Mr. Rudolf Hever, CEO of Alternative Real Estate (Alternaty), said that Vietnam is now opening up many attractive investment opportunities while other markets are subject to certain instabilities. “Singapore is affected by measures to defuse the market, Indonesia and Malaysia are seeing rapid currency devaluation, Thailand continues to struggle with internal problems, and Myanmar faces greater supply to the market in the future, putting pressure on prices,” he said. “Vietnam, meanwhile, has experienced a long period of overcoming difficulties and seems ready to lead the regional market in the next two or three years.”
Experts also voted on the best operating market at the seminar, with Vietnam overcoming Thailand, Indonesia and the Philippines.
According to the experts, investors in Thailand (Bangkok and Phuket), Singapore, and Indonesia (Bali and Lombok) have achieved success in attracting foreign buyers while Vietnam has missed this trend.
In the future, however, foreign buyers may consider Vietnam’s real estate because its government has made positive moves to create favorable conditions for them to purchase housing. Confidence among buyers and investors is increasing and the ASEAN Economic Community (AEC) and the TPP will have a positive impact on the country.