Asean’s Coasts Attracting Investor Interest

• 8 May 2018
• Property Focus
• 5971 Views

As ASEAN’s emerging markets experience a real estate boom fuelled largely by increasing direct foreign investment, property buyers are now looking beyond major cities to previously undeveloped coastal areas.

The coastal cities of Sihanoukville in Cambodia and Danang in Vietnam are seeing growing interest, especially from Chinese investors, as infrastructure improves and the economies and tourism markets of both nations rapidly develop amid slowing capital city property markets.

Danang, Vietnam has seen impressive recent growth with a string of new condominium and villa launches and a robust tourism industry that saw 1.7 million visits in the first nine months this year, up 49 percent on the prior year period.

In Cambodia, “Land prices within Sihanoukville have rapidly appreciated during the past 12 months… and in recent years, accumulated investment value has reached USD310 million,” according to the mid-year review of the province by CBRE Cambodia.

Meanwhile, in Myanmar, access to the nation’s undeveloped 2,000km coastline and the lack of basic infrastructure needed to kick-start a tourism boom remain major hurdles to attracting investment.

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