Rise in Vietnam’s real estate revenue

April 27, 2014 | 19:55

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The property market has begun to show positive signs, with a recent increase in capital inflows.

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Construction Minister Trinh Dinh Dung reported that by mid-April, the number of transactions in the real estate market in Hanoi doubled compared with last year’s final quarter.

Meanwhile, the State Bank of Vietnam (SBV) said that by the end of March, investment credit and real estate business increased by 3.95%, much higher than last years’ figure of 1.09%, for the first quarter.

Foreign capital inflows into Vietnam’s real estate are higher than other fields.

According to the Foreign Investment Agency, up until April 20, 2014, the property market ranked second in attracting FDI with additionally increased and newly-registered capital hitting US$392.3 million, accounting for 8.1% of total investment. In particular, an apartment project in HCM City’s Binh Thanh district has been licensed with investment capital totaling more than US$200 million.

Earlier, in the first quarter of the year, the real estate market also ranked second in attracting FDI with additionally increased and newly-registered capital reaching US$288.3 million, making up 8.6% of total investment.

VOV

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