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Market Overview
Why Ho Chi Minh City?
With detailed analysis of recent property development in Southeast Asia, we have identified Ho Chi Minh City, Vietnam as our target due to its rapid development. Its GDP had been growing at a rate of more than 6% p.a. for the past ten years, During the COVID-19 pandemic, the global economy, including Vietnam, has been affected. However, Vietnam's 2021 GDP grew by 2.85% year-on-year. Vietnam's General Statistics Office (GSO) stated that Vietnam's GDP will grow by 8.02% in 2022, the fastest annual pace since 1997. It is expected that there will be a continuous upward trend in the future.
According to JLL Vietnam, the price of apartment in HCMC increased 10.9% from Q3/ 2021 to Q1/ 2022. Limited new supply further pushes the prices up during the recorded period.
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Vietnam is undergoing rapid development recently who attracts investment from around the world. The Foreign Direct Investment (FDI) reached US$8.9 billion in Q1/ 2022, in which is the highest in the first quarter in 5 years.
Vietnam’s official currency is Vietnam Dong (VDN). According to the General Statistics Office of Vietnam, the fluctuation of VND FX (against USD) is within 10% in the past 6 years. It is counted as the most stable currency within the SE Asia region.
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