February 25, 2018 | 21:36 (GMT+7)
USD 5.2 bln overseas remittances pour into real estate
Savills Vietnam Real Estate Consultancy Company yesterday had an overview report on investment trends of overseas Vietnamese in real estate sector.
The Ho Chi Minh City's overseas remittances are considered as the city's major finance source.
Statistics from banks showed that the volume of overseas remittances to Ho Chi Minh City in 2017 reached around USD 5.2 billion, an increase of 4.5 percent compared to last year.
Overseas remittances are expected to be equivalent to foreign direct investment (FDI) thanks to the number of overseas Vietnamese of up to approximately 4.5 million people (equivalent to nearly 5 percent of the population).
According to Sunny Hoang Ha, Deputy Director of International Business at Savills Vietnam, the real estate market in Ho Chi Minh City in particular and in Vietnam in general have had many favorable factors for customers such as the variety of products, the extended legal framework, price incentives and customer care programs.
Source: SGGP