Vietnam has so far attracted 1,135 foreign-invested projects in the real estate sector with a total registered capital reaching US$68.045 billion, according to data provided by the Ministry of Planning and Investment (MPI).

In 2023 alone the sector attracted an additional US$4.665 billion in FDI, representing an increase of 4.8% compared to the figures from 2022.

MPI statistics show nearly 50 countries and territories have invested in the Vietnamese property sector, led by Singapore, the Republic of Korea, China, and Japan.

Most notably, Ho Chi Minh City took the lead out of 45 provinces and cities nationwide in attracting FDI in the property sector with over US$16 billion, trailed by Hanoi, Binh Duong, and Ba Ria - Vung Tau.

Experts attributed the rise in FDI inflows in the property sector to the country’s political stability, high economic growth, competitive production costs, and abundant human resources.

The country also has a long coastline which has facilitated the construction of resort real estate projects. In addition, the legal system has been fine-tuned with the business climate being improved in an increasingly open and transparent manner.

VOV