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Vietnamese 'investing in the country's high-end real estate'
09 Feb 2010
Speaking to the Vietnam Investment Review, Wooseok Ki, general director of Investica, said the difference had been noticeable on one of the company's latest luxury property developments – Blooming Park in Ho Chi Minh City.
"Initially our customers came mainly from Korea, Singapore, Hong Kong, Taiwan and many other western countries," Mr Ki said.
But since the project launched in the middle of 2008, the proportion of Vietnamese buyers has increased from around 50 per cent to 75 per cent.
"It is not only Vietnamese from Hanoi and Ho Chi Minh City who are interested in high-end real estate. I have customers from other parts of the country as well," he added.
But international investment is still pouring into the country.
Last month, figures from the Foreign Investment Agency revealed that there had been a 72 per cent increase in the amount of foreign direct investment in Vietnam compared to January 2008.
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