The performance of hotel industry in the third quarter of 2020 will not see much improvement as Vietnam has faced a second wave of Covid-19 since late July, CBRE said.
Despite rising trade protectionism worldwide, Vietnam continues to set new export records and has emerged as the next manufacturing hub, CBRE said.
More competitive land cost as well as lower occupancy rate are making emerging industrial areas in surrounding provinces become more attractive to investors and developers.
As Danang and Nha Trang has expericenced a slowdown in second-home supplies, non-traditional markets such as Binh Thuan and Ba Ria-Vung Tau are emerging as next hotspots.
Hotel pipeline in Hanoi and Ho Chi Minh City is expected to accelerate in the next three years, helping ease supply shortage amid rising demand from international tourists, according to CBRE.
As much as $1 billion is now ready to streamline into local real estate projects listed by property service provider Sohovietnam, according to its chairman Phan Xuan Can.
In 2019 and 2020, Vietnam will be welcoming a new wave of production and manufacturing shifting from China. Such trend will give rise to the industrial property across the nation, according to CBRE.
There were only 12 newly launched projects in Ho Chi Minh condominium market in the first quarter of 2019, dropping significantly due to long Tet holiday and slow licensing process, according to CBRE.
Chinese buyers are making up a dominant part of transacted luxury and high-end apartments, showing their keen interest in Vietnam's real estate market.
The largest transactions this year, for major office, residential and retail sites, all backed by foreign capital let people gauge the fervor foreign investors have in Vietnam, Asia’s rising star.
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