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Market bounces back
The real estate market in Hanoi has begun to gain momentum since May with areas of land in Ha Dong, My Dinh, An Khanh and Thang Long seeing a sharp increase in price.
The head of planning and foreign investment in Vietnam is predicting that the country’s tourism real estate market will see a boom in five years time and declared he has no worries about exploiting beautiful areas.
Phan Huu Thang is encouraging developers to promote property investment in real estate resorts to foreign buyers as this will be a key part of the growth of Vietnam’s property sector.
‘Investment in real estate has been increasing significantly in the last two years, responding to many changes in the land laws. Foreign investors have shown special interest in real estate projects that will serve the tourism sector,’ he said.