Phú Mỹ 3 Industrial Zone in Bà Rịa - Vung Tuu Province. Real estate ranked second in terms of foreign investment from January - August, accounting for for nearly 20 per cent of the registered total foreign direct investment (FDI) into the country. — VNA/VNS Photo Hong Dat

 

Foreign investors poured a total of US$2.4 billion into the real estate market of Vietnam in the first eight months of this year, five times the level over the same period last year, according to the latest updates from the General Statistics Office (GSO).

 

Real estate ranked second in terms of foreign investment into Vietnam from January - August, accounting for nearly 20 per cent of the registered total foreign direct investment (FDI) in the period.

 

Existing projects increased their capital by $150,000 in the period, bringing the total foreign capital into the real estate sector to $2.55 billion, 3.7 times higher than the same period last year.

 

A sum worth around $1.27 billion has been disbursed in the period, double that of 2023.

 

According to Savills Vietnam, FDI is an essential factor for the market, especially industrial property, four segments which are benefiting most from the foreign capital moving into real estate, including retail, office and housing.

 

Savills’ statistics showed that there are 33,000 ha of industrial zones for lease in Vietnam, with an occupancy rate of 80 per cent.

 

General director of InCorp Vietnam, Jack Nguyen, said that global manufacturers are looking to shift their production base to Vietnam, pushing up demand and investments in industrial property.

 

Office and housing markets are also being inflated by macroeconomic stability and business expansion, he said. — VNS

 

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