It’s good to see it’s not all doom and gloom in the real estate and retail market across Vietnam.
CBRE Vietnam have just published their latest ‘Market Insights’ report for HCMC & Hanoi, collated during Q4/2011.
While there’s clearly been considerable turmoil during 2011, inflation is believed to be slowing, the economy is beginning to stabilise and the property market is continuing to reform.
The red team are also happy to see some great new brands entering the Vietnamese retail market in 2011 and planning to enter the market in 2012….
Here’s the key take-outs from the HCMC Real Estate market:
- The market is alive and kicking, though may be different to the one you have known in the years gone by;
- “One man’s misfortune is another man’s gain” – for some, the current market situation is now an opportunity;
- There are deals to be done in the office market – but if construction is slowed on new supply, these will not be around for long;
- Retailers want to be in Vietnam, this needs to be facilitated with the right product, in the right locations and with a regulatory environment which works for them;
- The residential market will continue to reform. Buying and selling will occur, but in the short term it may be projects and land as opposed to units. Longer term – true market demand will rule;
- Industry/manufacturing is arriving in Vietnam. 2011 has seen notable action, more to come, the fundamentals are apparent to all;
- Serviced apartments – is a growing market but with a new, refined product.