The above opinion were agreed by experts at the seminar "New trends and opportunities for real estate investment in the second half of 2019", organized by CafeLand magazine.
In early May, the US-China trade war saw new signs of escalation. On May 10, the US announced a tax increase of $200 billion on Chinese goods, with tax rate raised from 10% to 25%. Moreover, the Head of the White House - US President Donald Trump also revealed that he is promoting a produce of imposing a 25% tax rate to about $325 billion of goods from China. Soon after, China responded by imposing a tax on $60 billion of US goods.
A luxury resort in Nha Trang, Vietnam.
These moves not only increase the tension between the two powerful economies but also push the world economy into a state of instability. So far, the US has taxed $ 250 billion of Chinese goods. China is also applying the same policy with $110 billion of US goods.
According to Tran Dinh Thien, Director of the Vietnam Economic Institute, the deep sinking into the trade war will make China difficult. Meanwhile, the number of tourists to Vietnam will tend to decline. Official firgures from the Vietnam National Administration of Tourism showed, in 2018, Chinese visitors accounted for one third of nearly 15.5 million international visitors to Vietnam. Tourism and tourism real estate in Vietnam receive a significant income from the world’s most populous country.
Sharing the same viewpoint, Mr. Nguyen Tri Hieu, banking and financial expert said the US-China trade war will push the world into a crisis, thereby affecting luxury products such as tourism and tourism real estate. According to Mr. Hieu, while Western countries have not been too interested in Vietnam’s resort real estate sector, in recent years, the wave of foreign investment has mainly come from Asian countries with strong economies like China, South Korea, Japan. Therefore, the US-China trade war can make tourism and tourism real estate market suffer a certain impact on visitor sources and investment flows.
Forecasting the future hotspots, Mr. Duong Duc Hien, Head of Residential Sale at Savils Vietnam, North and Central region, said some years ago, resort real estate developed most strongly in the Central region. In the coming time, he still appreciates the potential and growth rate of this regional market with the focal points of Da Nang, Nha Trang and Phu Quoc. Meanwhile in the North, the future hot spot is still Quang Ninh. "All hot spots attracting tourism must ensure that there is an airport and if there is an international airport, the potential is even bigger," Mr. Hien pointed out.
Meanwhile, Prof. Dang Hung Vo said for many years, Da Nang and Nha Trang are still hot spots of the resort real estate market. However, with a massive supply entering the playground recently, these markets will be saturated soon. Meanwhile, the heat of the resort property market will spread to Tuy Hoa (Phu Yen).
According to the former Deputy Minister of Natural Resources and Environment, Tuy Hoa (Phu Yen) is very potential. However, this destination seems to have only been widely known in recent years. In addition, some markets expected to see fast and strong growth rates in the coming time are Phan Thiet (Binh Thuan), Phan Rang (Ninh Thuan), Quy Nhon (Binh Dinh).
