Every year on 30 April Vietnam celebrates Reunification Day. Also known as Liberation Day, it is a public holiday that marks the fall of Saigon (now known as Ho Chi Minh City) and the end of the Vietnam War in 1975.
Since then Vietnam has had plenty more reasons to cheer. In the last four decades, the country has gone from Asian backwater to investment hotspot.
Its real estate market, notably in Ho Chi Minh City (HCMC), the economic capital of the country, and Hanoi, its political capital, started to develop rapidly soon after the real estate law was enacted in 2003. In recent years, strong economic growth, rising foreign investment and a booming middle class have led to healthy demand for real estate.
Now, global brands from Louis Vuitton to Starbucks are rapidly expanding in the country and in the near term, companies in the fast-moving consumer goods (FMCG) sector, information and technology, insurance and financial industries are expected to drive demand.
In this infographic, we trace the development of the real estate market from the start of market reforms in 1986 and give a glimpse of the promising growth of the country’s real estate sector.