Before the coronavirus outbreak, Vietnam received 5.8 million Chinese travelers a year with an average spending level of $100 per person per day.

Hotels have received a high number of room booking cancellation requests not only from groups of travelers and businesspeople, but also solo travelers. Resort real estate has suffered most heavily from Covid-19.

In such conditions, some real estate firms are focusing on developing high-end apartments, tourism complexes and resorts with green living space in 2020.

Hotels have received a high number of room booking cancellation requests not only from groups of travelers and businesspeople, but also solo travelers. Resort real estate has suffered most heavily from Covid-19.

Van Phuc Group, the developer of Van Phuc urban area, recently announced investment of VND2.5 trillion in 10 key utility works, including 10 hectares of park landscape, 20 kilometers of internal traffic infrastructure and central square.

It also plans to kick off six more items, including a commercial center, Van Phuc Hospital, Ocean World Amusement Park, The Long Park, concentrated parking lot and 300 houses.

The representative of a real estate firm said that ‘living green’ is not only about green construction works, but also green market, where the air is fresh and the environment is not polluted.

He said embryonic signs of a green market appeared in late 2019, and that 2020 will be the year for real estate developers to exploit the trend.

A series of green works are expected to attract buyers, including Rome by Diamond Lotus with the 1,100 square meter infinity salt mineral swimming pool developed by Phuc Khang Group and the 14.36 hectare Eco Green Saigon.

In the southern part of HCM City, the construction of the real estate project developed by GS Nha Be, covering an area of 350 hectares, will resume soon after many years of interruption.

Meanwhile, many large real estate firms are seeking investment opportunities in foreign markets.

According to Hoang Nguyet Minh from Savills Hanoi, the stable profitability in developed countries, the short time of implementation and low interest rates all are prompting Vietnamese developers to exploit foreign markets.

She went on to say that outward investments bring great opportunities to Vietnamese realtors. The investments help them diversify investment portfolios and increase opportunities to cooperate with foreign firms to attract more clients.

“Outward investments may not bring a high profitability rate like in Vietnam, but the profit is stable,” she said, adding that making outward investment is a way to promote Vietnam in the world’s investment map.

However, analysts have warned of the risks in making outward investments, including the risks in differences in laws and culture in emerging markets, and the stiff competition with local firms in developed markets.

Thanh Lich 

Resort real estate market to prosper as tourism develops

Vietnam received 13 million foreign travelers in 2018 and the figure increased by 10.8 percent in the first 9 months of 2019.

VN real estate investors advised to ‘put eggs in many baskets’

To minimize risks as the real estate market has decelerated, investors have been told not to pour all their money into one project.