Some 2.87 billion USD in foreign direct investment was registered in the Vietnamese property market during January-November.

Some 860 million USD was funneled to newly-licensed property projects during the period, while 1.83 billion USD was splashed out on capital contributions to and purchase of shares at domestic companies.

Capital disbursement in the sector stood at 982 million USD, accounting for 5% of the total disbursed FDI.

Statistics from Cushman & Wakefield Vietnam showed that prestigious housing developers have landed investment in Vietnam’s high-end apartment segment over the years.

Experts said Vietnam’s property market has been a magnet for foreign investment amidst global economic downturn.

They said foreign investors who boast considerable experience and financial strength will help Vietnam create international-standard property products, improve competitive edge, and reduce pressure on the banking system.

VNA