REAL ESTATE

Experts evaluated that the strong growth of the middle class will bring many opportunities for the
real estate market.

Deputy director CEO of Savills Vietnam, Troy Griffiths said that the developing countries with the
middle class are growing stronger, typically Vietnam, which brings many opportunities to investors in
the housing market. These are the newbies, a group of young people who have high and stable
incomes and are able to pay for real estate.

The strong growth of the middle class in these nations also strongly invests in the traffic
infrastructures. Mr.Troy Griffiths explained this is an inevitable development need because when the
income of households is higher, the number of cars is larger which causes pressure on the traffic
system in many cities such as Hanoi and HCM City, which forces these cities to invest in
infrastructure.

The leader of Savills Vietnam evaluated, besides infrastructure, the capitals of public traffic in the
developing cities are also allowed to socialize as a potential solution in the Southeast Asia area.
Typically, the new metro lines have opened opportunities for a series of real estate projects.

Meanwhile, a doctoral candidate in economics at Oxford University, Linda Yueh, judges that the
growth of the middle class in emerging economies is creating the biggest demand ever for the
housing market; simultaneously, this source of demand also expands office property.

Besides the growth of the middle class, technology is also supposed to be having a big influence on
the real estate market and this influence will continue in the next decade. In the study of the growth
of real estate, Savills stated, this major needs to quickly react to the speed of urbanization, migration
trends, and the climate change process.

In the future, there are many unusual factors and opinions of experts about the real estate market in
the next decade that may be different, but a united point is that the real estate market is changing
every day. Changes in the economy, society, especially demography, and the strong growth of the
middle class will have affected the real estate market wisely. Savills predicts the next decade will be
the time that the new types of real estate develop and operate better and are outstanding compared
to the traditional types of real estate.