Foreign investors will start to shift investment from HCM City to Hanoi this year, says Marc Townsend, managing director of Property services and consulting firm CB Richard Ellis (CBRE) Vietnam Co.
At a real estate conference held last Wednesday in the capital, Mr. Townsend said about 80 percent of its investors’ last year capital has been poured into the market.
He said both foreign investors and Vietnamese government had been very active in the market.
“Malaysian and Singaporean investors view the city as a promising market,” said the MD.
Weathering the global economic downturn, Vietnam reached a positive GDP growth rate in 2009. Interest rates were increased by one percent on December 1, a move designed to limit credit growth and rein in inflation.
CBRE forecast that new legal documents on the market would provide foreign investor with new opportunities.
