Hcmc Luxury Market Booming

The luxury condominium market is booming in Ho Chi Minh City, as Vietnam’s largest city continues its drive as the powerhouse of the ASEAN real estate sector.

A recent CBRE report described the market as ‘upbeat’ with 43, 861 condo units coming online in 2017, with 1,627 of them in the luxury sector.

This follows a strong 2016 when 37, 419 units were launched. Though the total of 35,008 units sold in 2016 was down 4.5 percent from 2015, prices rose 4.6 percent year on year in the same period.

Much of this growth is being driven by the confidence of Asian investors in Vietnam’s economy with Foreign Direct Investment (FDI) at its highest level in eight years.

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