The fast-rising number of foreign visitors coupled with various international events are driving oversees investment, especially from reputable global brands, to the Vietnamese hotel market.
Southern’s future housing supply will peak in 2020-2021 with over 131,000 units. Meanwhile, from 2020 onward, foreign developers including Sumitomo, CapitaLand and Mitsubishi Corporation will enter Hanoi’s market.
“On the back of strong FDI flows, the serviced apartment sector continues to perform well.” – Le Thi Quynh Le, Associate Director, Residential Sales at Savills Vietnam.
New to market foreign entrants would be familiar with industrial clustering, as these are well-established within the locations they are moving from.
Impact of the US-China trade war and Vietnam’s advantages are forecast to meet the needs of FDI manufacturing enterprises, showing the potential for strong development of industrial real estate, Savills reported.
The domestic hotel industry will face many challenges during development, especially in the application of technology, according to an expert from Savills Vietnam – a foreign property service provider in Vietnam.