“Vietnam has come a long way since our office opened in 1995: it is now one of the global property hotspots in 2019. With robust fundamentals, positive macroeconomic outlook and continuous investment into infrastructure, the market is thriving across a multitude of real estate sectors,” Ridley spoke fondly of the emerging Southeast Asian country ahead of his visit.
Savills has now been in Vietnam for 24 years where the international real estate practice offers a wide range of services including advisory, agency, and property management.
Vietnam is now one of the regional property hotspots in 2019.
Neil MacGregor, managing director of Savills Vietnam added: “We continue to see strength in the residential market, supported by the rapidly growing middle class, strong urbanization, as well as some of the best rental yields anywhere in the region.
Meanwhile, the office markets in Hanoi and Ho Chi Minh City continue to be amongst the most exciting property sectors across the region. Record occupancy levels, limited new supply and buoyant tenant demand have resulted in very attractive office rental growth. We expect to see strong investor demand in the office sector as it continues to mature.”
He said the hospitality markets are benefiting from the growing numbers of both domestic and international tourists, as well as growing numbers of direct international flights.
“It is no surprise that hotel investors are descending upon Vietnam as the next regional hotspot. Industrial real estate, fueled by growing FDI being poured into manufacturing, improved infrastructure and a competitive outlook when compared with other countries in the region, represents one of the most active sectors for M&A activity in 2019,” said MacGregor.