Developing a legal framework for joint real estate investment in Vietnam will be difficult, despite the laws on land, housing and real estate that took effect at the beginning of August, experts have said.

Vietnam is among the top five destinations selected by Ultra High Net Worth Individuals (UHNWI) in Singapore for their real estate investment plans, according to the Wealth Report 2023 released by Knight Frank.

The Vietnamese real estate market has remained attractive to foreign investors and investment funds despite difficulties countering domestic firms, according to insiders.

The central province of Phu Yen is emerging as an attractive market for real estate investment, especially in large-scale hospitality projects.

Property consultants Savills Vietnam have adopted a positive outlook on real estate investment in Vietnam amid the COVID-19 pandemic, saying that when it eases there will be increasing numbers of investors injecting new capital into the sector.

While Asian investors are dominating real estate investment and mergers and acquisitions in Vietnam, many European and American firms have chosen to invest in listed property companies.

The property market in Ho Chi Minh City has been vibrant since the outset of 2015 thanks to buoyant merger & acquisition (M&A) activities which are expected to continue thriving in the time to ahead.