2012 is a year when a number of investors will be able to capitalize on opportunities in the real estate market following a tough 2011, the real estate services company CBRE said.
For some people, companies and individuals, 2012 will be a year when Vietnam finally becomes a profitable market for real estate, CBRE Vietnam Managing Director, Marc Townsend, said last week.
"Some sectors have seen prices declining for over three years. There has been pain in the market, with cash flows being challenged as restrictions on capital flows came into place and buyer appetite faded," he said, noting that "a crisis for some, is an excellent opportunity for others."
Townsend said Vietnamese consumers have money to spend, which is reflected in an increase in car sales in 2011.
"The price of gold is at an all time high, and when that starts to fall, people will move out of gold and capitalize on their profit by going into real estate," he said, predicting that more affordable residential sectors will "perform strongest."
He also said foreign investment into real estate would increase notably in 2012.
Like us on Facebook and scroll down to share your comment