The successful step in controlling the COVID 19 pandemic has made Vietnam a safe destination. Many expatriates want to return home to live and invest, and at the same time, foreign capital flows into Vietnamese market have also increased sharply. Reports from Savills and JLL show that although the tourism industry and the resort real estate segment are still affected by COVID 19, in the long term, this market can recover quickly because Vietnam is a destination that is preferred by many tourists as well as welcomes investment from other countries.
The lack of legal transparency that led to disputes between the project developer and the investor has always been a prominent issue. Therefore, “clean” legislation and long-term ownership are the top concerns of investors, especially after a period of economic stagnation for months due to the COVID 19 epidemic, as it directly affects the liquidity and profitability of real estate in the future. The resort real estate, which has highly been appreciated by investors for the liquidity thanks to its profitability lasting up to 8-10 years, now needs to ensure transparency in legal issues.
According to a survey of Nielsen Vietnam in 2019, health is the leading interest of Vietnamese consumers. Therefore, after the epidemic, health is even more strongly concerned than ever, leading to the demand for a type of health-care resort tourism in order to both refresh the mind and revive physical health is also on the rise. This comes up with opportunities and potential direction to grow for the resort real estate market when it is completely possible to integrate relaxation, recreation and healthcare services.
That the resort real estate market is able to develop a new model as well as expand its target to not only domestic investors but also more foreign investors who choose Vietnam as a safe destination for long-term settlement has signaled such a potential and dynamic market for resort real estate than ever.
The “giants” have quickly upgraded themselves and been ready for the return. So do not forget to follow our fanpage and website Vietnam Property Investment to update the latest information about the market as well as attractive imminent projects.
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Ms. TRACY VU