As the USD deposit rate has been reduced to 0%, experts believe that customers may have to pay fees for USD deposits. This, in conjunction with incoming remittances, leads to more USD in the market. The question is: ‘Does this mean opportunities for the real estate sector in 2016?’.
"Now many Vietnamese investors may feel confident enough about their currency to invest into real estate, instead of buying USD", said Nguyen Hai An, Assoc. Director, CBRE Vietnam.
2015 saw over 21,000 successful property transactions, and land values recover from 7-10%. According to experts, 2016 will see many exchange rate fluctuations. However, foreign investors are confident about real estate prospects this year.
According to CBRE, 80% of real estate capital has domestic origins. Therefore, USD exchange rate policies will not significantly affect the real estate market. However, this could result in many USD holders purchasing property as a new domain of investment.
