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Foreign direct investment (FDI) in real estate increased in the first four months of this year, putting the sector behind just processing and manufacturing industry.
Around USD455 million was poured into the real estate sector between January and April
Around USD455 million was poured into the real estate sector between January and April, accounting for 12.8% of the country’s total FDI capital during the period.
USD3.05 billion in FDI was committed during the same period last year to real estate by foreign investors, accounting for 8.5% of Vietnam’s total registered FDI capital, the Ministry of Planning and Investment reported.
Commercial Real Estate Services said that previously, investment in the real estate focused on the southern market. However, since 2017, many foreign investors have paid special attention to Hanoi’s property market.
They have joined together with several big domestic investors to carry out projects, for example, Sumitomo Group’s deal on the northern side of the Red River which is expected to be a hot spot for real estate.
Experts said hotels and luxury property were among the most attractive property to foreign investors.
The General Statistics Office reported that Vietnam lured 883 new FDI projects totalling USD8.06 billion in the first four months of this year, down 23.9% on-year. However, FDI disbursement was estimated at USD5.1 billion during the four-month period, up 6.3%.
South Korea was the top foreign investor in Vietnam between January and April, followed by Japan.
Dtinews
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