The industry ranked second in FDI attraction, occupying 10% of the total foreign capital flow.

As much as 858.4 million USD was funneled to newly-licensed property projects during the period, while 1.83 billion USD was splashed out on capital contributions to and purchase of shares at domestic companies.

Capital disbursement in the sector stood at 982.6 million USD, accounting for 4.9% of the total disbursed FDI.

According to Country Head of Cushman & Wakefield Vietnam Trang Bui, Vietnam’s property market has been a magnet for foreign investment amidst global economic downturn.

She said attractive rate of return (ROR) in this emerging market is an important element that has stoked foreigners’ investment.

Statistics from Cushman & Wakefield Vietnam showed that prestigious housing developers such as Keppel Land, Capitaland, Hong Kong Land, Frasers Property, and Mapletree have landed investment in Vietnam’s high-end apartment segment over the years.

Experts said foreign investors who boast considerable experience and financial strength will help Vietnam create international-standard property products, improve competitive edge, and reduce pressure on the banking system./.VNA