"Bright" in real estate investment channel
Despite the general impact of the global economy, in 2023, the cash flow from overseas Vietnamese still helped Vietnam maintain its position as the top 3 countries receiving the most remittances in the Asia-Pacific region, and the top 10 countries with the largest remittances in the world. According to the World Bank's forecast, the amount of remittances flowing to Vietnam in 2024 is expected to be higher than in 2023, estimated at 14.4 billion USD.
Mr. Peter Hong - Permanent Vice President and General Secretary of the Association of Vietnamese Entrepreneurs Abroad said that there are currently about 6 million overseas Vietnamese, of which about 10 - 12% are businessmen, intellectuals with high qualifications and income, who have the need to own real estate in their homeland to visit their families or stay to live, work, invest, do business..., and stay attached to their homeland.
For overseas Vietnamese businessmen and intellectuals, investing in real estate in Vietnam not only creates stability and security but also brings great profit opportunities.
The diversity of the Vietnamese real estate market such as shophouses, luxury apartments, resort villas... brings many diverse options for overseas Vietnamese investors. In addition, a stable political foundation, a recovering macro-economy, a favorable investment environment, and high growth potential... are important foundations for the increased flow of remittances into the domestic real estate market.
The segment sought after by super-rich overseas Vietnamese
In the general context, Nghe An has emerged as a bright spot for overseas Vietnamese investment because it is the leading province nationwide in the number of workers working abroad under contracts, with annual remittances reaching about 650 million USD, equivalent to 15,000 billion VND. If including the number of workers who go abroad freely through other channels, about 20,000 people, the annual remittances sent back are about 1.4 billion USD, equivalent to nearly 35,000 billion VND.
Overseas Vietnamese from Nghe An with the trend of investing in the real estate market in their homeland are contributing to the heat of some particularly potential product lines, with the ability to exploit business and generate profits not inferior to other projects in major markets nationwide.
For example, earlier this year, the investment story of a famous name in the Vietnamese-American community, the first person to own a McLaren supercar in Nghe An, caused a stir in the real estate market of Nghe An. Information said that the Vietnamese-American customer in Dien Hanh commune, Dien Chau district, Nghe An has just added 5 shophouses to his real estate collection in Hoang Son Urban Area, raising the status of the project known as "the promised land of Vietnamese-Americans all over the world".
Commenting on this decision, investors quickly realized the hidden calculation behind it when Hoang Son Urban Area entered the exploitation phase, operated stably and brought steady cash flow to business investors. It can be said that the shophouse in the project meets the "right taste" of experienced investors when it owns a prime location on National Highway 7 - the route connecting the North - South Expressway, and has full functionality of a shophouse product for rent, business to create immediate cash flow, and is in the "golden phase" of growth for investment cash flow.
In the near future, when the Land Law (amended) officially takes effect, with the expansion of land use rights for Vietnamese people residing abroad, it will contribute to increasing the attractiveness of domestic real estate. At that time, the shophouse segment is expected to "explode" and become the center of heat for the whole market.
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