Foreign real estate brokers jump into Vietnamese real estate market
The real estate market in Vietnam has been active with new arrivals from foreign brokers and consultants.
Besides foreign brokers who have more than 15 years of operating experience in Vietnam, such as Savills and CBRE or Colliers International and Jones Lang LaSalle (JLL) who came somewhat later, the Vietnam real estate market has drawn many new arrivals to the field.
New foreign faces are appearing in the Vietnamese real estate market
Most recently, real estate agency PropNex has entered into a master franchise agreement with PropNex Realty Vietnam to grow its business in Vietnam.
According to the agreement, Singapore-based PropNex gets a 25 per cent stake in the Vietnamese franchisee for a nominal sum of $1.
According to Ismail Gafoor, CEO of PropNex, with its growing economy and positive forecast for the real estate market, Vietnam will be an important place for PropNex to establish its brand.
Vietnam is the latest office of ProNex, following Singapore, Malaysia, and Indonesia.
The new franchisee occupies a 2,637 square feet (800,000 square metres) office space in Ho Chi Minh City and employs a sales staff of more than 70. PropNex has more than 7,454 salesmen in Singapore, 800 in Indonesia, and 100 in Malaysia.
Previously, ERA Asia-Pacific, another real estate broker, has expanded its footprint to Vietnam via setting up ERA Vietnam through a master franchise agreement with Eurocapital JSC, the property arm of Eurocapital Group, a private investment company based in Vietnam.
According to Jack Chua, chief executive for ERA Asia-Pacific, Vietnam is an up-and-coming country that saw tremendous growth in home sales last year, due in large part to government measures to improve urbanisation.
“ERA Vietnam will benefit from strong referral channels with its ERA operations in Singapore, a popular target for Vietnamese residents purchasing properties abroad,” Chua said.
ERA Vietnam is now one of eight markets in which ERA Asia-Pacific operates, joining Singapore, Japan, Korea, Taiwan, Thailand, Malaysia, and Indonesia.
Huttons Vietnam, a joint venture between Huttons International—the third largest broker in Singapore—has teamed up with Vietnamese company So Mot Realty.
Huttons International currently has more than 3,000 real estate salespersons and over a decade of project marketing experience, holding a significant 60 per cent market share in the sale of primary stock in Singapore. Huttons Vietnam's office was set up in a network spanning across Malaysia, the Philippines, Cambodia, and Indonesia.
The development of the Vietnamese real estate market has been gaining traction. Major cities such as Ho Chi Minh City, Hanoi, Danang, and Nha Trang are the primary targets of foreign brokers.
Together with the new arrivals, long-standing market participants like Savills Vietnam, CBRE Vietnam, Jones Lang LaSalle (JLL), Cushman & Wakefield, and Colliers International are executing services in all ranges from property brokerage, research and consulting, valuation and advisory, project marketing, and management to asset services.
- Competence to approve investment policies (02/04/2021)
- National Assembly To Relieve Top State, Government Leaders (02/04/2021)
- Around US$700-million-worth Vietnamese Goods Stuck In Suez Canal (31/03/2021)
- Nearly 40,000 People In 19 Localities Vaccinated Against COVID-19 (29/03/2021)
- GDP Expands Nearly 5% In Q1 Despite COVID-19 Pandemic (29/03/2021)
- GE signs agreements with EVNGENCO 3 to boost largest power plants in Vietnam (28/03/2021)
- Textile FDI down but poised for strong growth: experts (28/03/2021)
- Trade surplus exceeds US$17 bln (26/03/2021)
- Highlights of Government’s Workload and Performance in 2016-2020 Period (26/03/2021)
- Gov’t Chief Holds Phone Talks With Chilean President (26/03/2021)
- Malaysian news portal appreciates Vietnam’s FDI attraction (26/03/2021)
- Malaysian news portal appreciates Vietnam’s FDI attraction (22/03/2021)
- HCMC to get four Japanese-built metro trains in summer (18/03/2021)
- Environmental admin procedure costs surge 39 pct (18/03/2021)
- HCM City: Real estate most attractive to foreign investors in first two months (15/03/2021)
- VN - bright spot in FDI attraction (12/03/2021)
- RoK becomes largest investor in VN (12/03/2021)
- HSBC: VN’s GDP growth poised to rebound 8.1% in 2021 (04/10/2020)
- Gov't has been active in luring high-quality FDI inflows (28/09/2020)
- ADB: Growth in corporate bonds in VN reaches 76% by end of June (28/09/2020)
- Viet Nam has golden chance to attract investment from Europe (29/07/2020)
- EuroCham speaks at the ASEAN Forum on Sub-Regional Development (21/07/2020)
- [EuroCham Webinar] Decision 13 – Final FIT for Renewable Energy in Vietnam (23/04/2020)
- THE SITUATION OF ATRACTTING FOREIGN INVESTMENT IN THE FIRST 3 MONTHS OF 2020 (19/04/2020)
- Key infrastructure projects calling for investment in HCMC (08/07/2019)
- Bac Ninh licenses 116 FDI projects in seven months (22/08/2018)
- Binh Phuoc licenses 24 projects worth $1 billion (22/08/2018)
- Hue targets $56mil in investment this year (15/08/2018)
- Hanoi seeks approval for Vingroup’s $300 million IT park (31/07/2018)
- List of Project Calling For Investment in Lam Dong Province in 2018 (31/07/2018)
- Kien Giang calls for investment in 12 resort projects (31/07/2018)
- Decree amendments open paid TV firms to foreign investment (30/07/2018)
- Vietnam: Opportunities in the Waste-to-Energy Sector (24/07/2018)
- Can Tho City seeks investment for 54 projects worth $5.4 billion (20/07/2018)
- Hoa Lac High-tech Park aims for $1 billion investment in 2018 (19/07/2018)
- Large-scale undersea tunnel to be constructed next year (19/07/2018)
- Investment Plan: SAIGON HUONG NAM RESORT (23/09/2020)
- OVERVIEW OF THE NORTHERN REGION (16/09/2020)
- OVERVIEW OF THE SOUTHERN REGION (15/09/2020)
- A project of specialized factories for manufacturing ICT - DITP ICT accessories (08/08/2020)
- THU THUA INDUSTRIAL ZONE (15/01/2020)
- Map of industrial parks in Vietnam (23/07/2019)
- 493 Projects Invested in Nghi Son Economic Zone and Industrial Zones (09/02/2018)
- Thai Binh Strives to Attract Investment Capital of VND 5000 billion in Industrial Parks and Economic Zones (07/02/2018)
- Vinh Phuc Adds 4 New FDI Projects in Industrial Zones (07/02/2018)
- Dung Quat EZ and Quang Ngai IPs Attracted 258 Projects with a Total Investment Capital of More Than US$ 11 Billion (30/01/2018)
- Solutions to attract Investment Capital into Industrial Parks in Bac Giang Province (19/01/2018)
- Nghi Son Economic Zone and Industrial Zones Received 66 new Investment Projects (08/01/2018)