Southeast Asia has a growing economy that investors have kept their eyes out for. Its eleven beautiful countries are all quickly developing but the question is: where should you put your investments? With its thriving tourism and advancing economy, here’s why you should invest in a Vietnam property.
An aerial view of Ho Chi Minh City
Wallstreet Daily reports that “70% of Vietnamese still live in rural areas and remain involved in agriculture.” Although this might mean that the country is a long ways away from having high GDP incomes like Singapore or Thailand, it’s surely on its way there.
Vietnambotschaft said there was an economic growth of 7.5% each year from 1991 to 2010 and 5.6% from 2011 to 2013. Also, JonesLangLasalle (JLL) reports that there was a “strong launching and sales activity” in the Vietnam real estate, office-for-lease, and retail market during the first quarter of 2017. Even the largest listed conglomerate, Vingroup, decided to expand their horizons by opening more stores and starting up new projects.
A ride down Thu Bon River in Hoi An Ancient Town
While Vietnam may still largely be a rural country, investors should pay more attention to its efficient demographics of over 95 million people, Wallstreet Daily said. More than that, 60% of its population are currently in the working class. The average age is at 27 years old meaning the country’s economy is in maximum productivity.
This could also mean a rise in the Vietnam property market since these working class people are next in line to buy Vietnam property, whether for personal use or as a property investment.
Widening doors for foreign investments
Jones Lang Lasalle (JLL) computed an “increase of 77.6% [year-on-year] in the newly registered [Foreign Direct Investment] recorded in [the first quarter of 2017]”.
Singaporeans are also raking up Vietnam property investments because of the low prices, a report says. Although Vietnam has the same strict communist government like China, the country is now beginning to freely welcome foreign investors. The government is shaping up their legal frameworks to be more accommodating to foreign investments.
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