45 years of Vietnam – UK relations have created many cross border investment opportunities between the two countries, including those in the real estate market. On 28/09/2018, Savills Vietnam hosted “UK Real Estate Investment Opportunities in Vietnam”, introducing potential residential projects to local investors in Da Nang. The event welcomed the presence of Mr. Gareth Ward, the new UK Ambassador to Vietnam.
(Mr. Gareth Ward, UK Ambassador to Vietnam spoke at “UK Real Estate Investment Opportunities in Vietnam”)
This year marks the 45th anniversary of Vietnam – UK diplomatic relations with many economic, political and social welfare achievements for both nations. It is in the two governments’ agenda to boost the cooperation in the future and develop partnership in education, healthcare, defense and tourism sectors. As the economic and political hub of Vietnam central region, Da Nang promises to be one of the key areas of inbound and outbound investment flows in these sectors. That was the key message in Ambassador Gareth Ward’s speech at the event in Savills Da Nang.
(Mr. Matthew Powell, Director of Savills Hanoi shared Savills activities in Vietnam and Danang)
Mr. Matthew Powell, Director of Savills Hanoi shared: “We are extremely proud of our British heritage. Present in Vietnam for 23 years, Savills is evidence of the strength of Vietnam – UK relations. Meanwhile, Savills has received an increasing number of inquiries from British investors interested in Vietnam, including Da Nang. This city has developed from merely a tourist destination to a thriving real estate market with retail, office, entertainment properties developing around the core sector – hospitality. This is drawing individual and corporate investors’ interest in Da Nang. On the other hand, the development of the local economy and rise in average income has increased local investors’ demand for real estate investment, including interest in the UK as an investment destination. As the Vietnam – UK relations strengthen, Savills expects a rise in property transactions between the 2 countries”.
Discussing the UK real estate investment trends and opportunities with Da Nang investors, Mr. Duong Duc Hien, Director of Residential Sales for the North & Central region, Savills Vietnam commented: “There is in fact demand for real estate investment in foreign countries from Vietnamese investors. This demand is originated from the appeal of developed property markets and individual buyers whose children are studying abroad, which makes a residential purchase a student accommodation and a saving account. The UK is in top five destinations for Vietnamese studying abroad, which puts it on the investment radar of Vietnamese buyers. UK property market however has numerous differences from Vietnam regarding buyer behavior (according to survey results from Savills UK and observations from Savills Vietnam). Dissimilarities in legal processes between the two countries is also an obstacle for Vietnamese investors. Fully aware of these challenges, Savills International Residential Sales team ultilise our global network to provide consultation based on local market expertise and knowledge of legal processes for Vietnamese investors wishing to enter the UK market.
(Mr. Dương Đức Hiền – Director of Residential Sales for North and Central, Savills Vietnam commented ổn UK real estate investment trends and opportunities).
Mr. Hien also introduced South Quay Plaza and White City Living by The Berkeley Group – two high-end residential projects with great investment potential due to their excellent locations, easy accessibilities, various local amenities, luxury facilities and services. The developments are not only suitable for student accommodation but also have potential for reselling and renting to high- income buyers in the UK.