TPP may provide leverage for real estate, experts say

Chairman of Nam Long Investment Corporation Nguyen Xuan Quang believed that the country’s real estate market offers various opportunities for investors after the adoption of Law on Housing last year, which allows foreigners to by houses in Viet Nam.

In addition, the nation’s participation in the TPP will attract more foreign investors, leading to increasing demand in apartments and offices, he added.

Managing Director Savills Viet Nam Neil MacGregor said while the housing prices in other Southeast Asian nations remain high, Viet Nam’s real estate market has escaped from the bottom.

He forecasted that within the next two years, the real estate market may see the growth of 10-15% per year.

The Commercial Real Estate Service Viet Nam said the TPP will enhance the flow of foreign investment in Viet Nam, which helps increase demands for international-standard offices and houses for lease.

The real estate sector ranked third in attracting foreign investment over the past time./.

By Thuy Dung