Nearly $1.7b of FDI pours into real estate market

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Nearly $1.7b of FDI pours into real estate market

Vietnam News - 8/1/2015 9:43:50 AM

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The country's property market attracted US$1.69 billion in foreign direct investment (FDI) for 15 projects in the first seven months of 2015, according to the Foreign Investment Agency.

This figure accounted for 19.3 per cent of the total FDI capital of $6.92 billion.

Figures from the agency showed that the real estate sector took second place in attracting FDI capital during the period. In HCM City alone, four real estate FDI projects received an investment licence, with total registered capital of $1.31 million.

Experts forecast that FDI pouring into the property sector would see a surge by the year-end month thanks to the amended Law on Housing 2014 and Real Estate Trading, which allows foreign buyers and Viet Kieu (overseas Vietnamese) to own houses in Viet Nam for 50 years.

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