Home sales to foreigners rose significantly in Q2

More than 10,000 apartments found their new owners in the second quarter of 2016. Notably, the market also saw more interest of foreigners and Viet Kieu.   

According to property consulting firm Jones Lang Lasalle (JLL) Vietnam, there has been a strong rise in apartment sales to foreigners in HCMC.

Reportedly, foreign home buyers have bought more than 1,000 units in HCMC alone since the amended Housing Law, which allows foreigners to buy up to 30% of the total units in a housing project, took effect last July.

There has been a strong rise in apartment sales to foreigners in HCMC recently.

Stephen Wyatt – Director of JLL Vietnam said thanks to growth in both demand and supply and support from banks to developers and buyers, the total sales in 2015 was double that of 2014.

Wyatt expected the trend would continue this year while foreigners buying homes in Vietnam would remain an interesting topic. He believed that investors in neighboring countries have been attracted by Vietnam real estate market.

Meanwhile, CBRE said more foreigners buying homes in in HCMC for investment purposes.

High-end projects such as Vinhomes Central Park, Vinhomes Golden River, Estella Heights , The Nassim have all recorded significant purchases by foreign home buyers. Several developers have even sold out 30% of their products to foreigners.

Housing developers have seen a notable rise in the number of foreign customers visiting their projects. For example, Novaland Group said they had seen a regular increase in sales to foreigners since the amended law took effect. The firm quoted a report from the Japan External Trade Organization as saying that 66% of Japanese enterprises set to expand their business in Vietnam.

Other projects developed by Phu My Hung Corp. such as Happy Residence and Le Jardin have also welcomed big volumes of buyers and visitors. 

Since Q2 of last year, there has been a boom in home sales by foreigners, accounting for 10-15% of the total sales.

Source: Vietnamnews