Real Estate

Experts say the strong rise of the middle class will bring many opportunities to the
real estate market.
Savills Vietnam Deputy Managing Director Troy Griffiths said developing countries with
a growing middle class, such as Vietnam, have offered investors many opportunities in
the housing market. This is an emerging class of rich people, a group of young people
with high, stable incomes and the ability to pay for real estate.
The strong growth of the middle class in these countries has also gone hand in hand with
heavy investment in transport infrastructure. Mr. Troy Griffiths explained that this is an
inevitable development need because when the income source of households is
increasing, the number of cars is larger, putting pressure on the transport system in cities
such as Hanoi and Ho Chi Minh City, forcing these cities to invest in infrastructure.
Savills Vietnam's leaders assessed that, in addition to infrastructure, capital for public
transport in developing cities is also allowed to socialize as a potential solution in
Southeast Asia. Typically, new metro lines are likely to have been and will open up
opportunities for a series of real estate projects.
Meanwhile, Linda Yueh, Ph.D. student in economics at Oxford University, said that the
growth of the middle class in emerging economies is creating an unprecedented demand
for the housing market; At the same time, this demand also extends to office real estate.
Besides the growth of the middle class, technology is also expected to have a major
influence on the real estate market and this impact will continue into the next decade. In
researching the growth of real estate, Savills said that the industry needs to react quickly
to the pace of urbanization, migration trends, and also climate change.
The future may be fraught with uncertainty and experts' opinions on the real estate market
over the next decade may differ, but one point of unity is that the real estate market is
changing day by day. Economic and social changes, especially demographics, and the
strong growth of the middle class will have a profound impact on the real estate market.
Savills forecasts that the next decade will be a time when new types of real estate develop
and perform better, outperforming traditional real estate types.
Source: VNEXPRESS