Property market attracts 77.6 million USD in FDI in January
Foreign investors poured a total of 77.6 million USD into the real estate market in January, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
Foreign investors pumped in a total of 77.6 million USD in the real estate market in January (Photo: baodauthau.vn)
Hanoi (VNA) - Foreign investors poured a total of 77.6 million USDinto the real estate market in January, according to the Foreign InvestmentAgency under the Ministry of Planning and Investment.
Real estate ranked third among 19 sectors with foreign direct investment (FDI)in January, attracting 6.2 percent of the total registered FDI.
Su Ngoc Khuong, investment director at property services firm Savills Vietnam,said foreign capital would promote the development of the property market inthe country.
In 2017, the real estate sector lured 3.05 billion USD in FDI, accounting for8.5 percent of the country’s total registered foreign investment, ranking thirdin terms of FDI attraction after the manufacturing and processing industry andpower distribution sector.
According to the General Statistics Office, 1,400 new construction firms werefounded in January, up by 21 percent, together with more than 460 new firms inreal estate business, up by 47 percent over the same period last year.
New construction firms had the highest registered capital worth 20.6 trillionVND (903.5 million USD), accounting for 21 percent of the total registeredcapital of new firms in January. This was followed by real estate business with17.5 trillion VND, accounting for nearly 19 percent.
Last year, the total registered capital of new firms operating in the realestate sector was 388 trillion VND, accounting for 30 percent.
The average capital of new real estate firms last year was also highest, with 76.7billion VND for each firm.-VNA
Strong economic growth, rapid urbanization and huge demand for housing are expected to create favourable conditions for the property and construction sectors to thrive in the time to come.
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Foreign investors pumped in a total of 77.6 million USD in the real estate market in January (Photo: baodauthau.vn) 
