2014-04-03 06:59:01 - Vietnam Real Estate Report Q1 2014 - a new market research report on companiesandmarkets.com
We believe that despite the continuing soft economy and domestic tensions surrounding the election, Vietnam´s commercial construction outlook is positive and driven by the rising demand for industrial, retail and office real estate space. In turn new construction projects are boosting the existing real estate sectors offering new, modern developments. However, as our forecasts show, these developments are having a negative effect on rates in some areas as new capacity becoming available is driving down rates in the short term.
After largely succeeding in its efforts to curb inflation, the Vietnamese National Bank has relaxed interest rates from a historic high of 15% to 7% as of July 2013. Efforts to reduce capital controls and lending restrictions have met with mixed
success as the government continues its efforts to attract foreign investment through industrial park (IP) and Economic Zone (EZ) development.
While office and industrial rents have remained low through 2013, demand for retail space has outstripped supply and has outperformed other sectors as an increasingly middle income urbanised class boosts overall consumption rates. Top priorities through 2014 will be economic, increasing GDP growth and attracting more diversified sustained investment, as the market continues to relax restrictions on property and firm ownership.
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