Vietnam just recently opened its borders in 2022, which translates to new possibilities for foreigners, In this article, we will give you a preview of life in Vietnam after the COVID-19 pandemic to give you some useful insights that you can apply to make the best out of your living here.
Vietnam’s border reopening for tourists
Ever since the borders reopened on March 15, Vietnam’s outbound tourism rates are rising.
After a period of inactivity, tourist sites are starting to thrive. The latest updates on March 16, 2022 allow foreigners to travel anywhere in the country with proof of a negative test. No quarantine is required either.
This is great news for those who are looking forward to their Vietnamese trip for a long time.
COVID-19 recovery
Not only showing strong signs of recovery, Vietnam is also achieving robust and steady growth post-pandemic. The country even recorded positive GDP growth despite long periods of lockdown in 2021, according to Vietnam’s Ministry of Planning and Investment.
A stimulus plan from the government is also in place. This is hoped to boost Vietnam’s economy after COVID-19 and encourage participation from many sectors.
It’s very likely that the business environment in Vietnam is off for a great year ahead.
Investment prospects
If you’re new to Vietnam, the Southeast Asian country has been a hotspot for foreign investment for a while. This is largely thanks to its entrepreneurially-friendly environment and government-supported policies.
Most people would agree that the top 5 industries for investment in Vietnam include:
- Construction and building.
- Beauty and cosmetics.
- Agriculture.
- Real estate.
- Car business.
Among these, the real estate market is a strong candidate for having a strong comeback even after the COVID-19 pandemic.
There are several limits to a foreign owner, however. For example, you cannot own land in Vietnam, or are not allowed to buy more than 30% of any housing project with foreign quota*.
(* For example, if a project has 100 units, there will be 30 units available for foreign purchase).
Interested in the housing market in Vietnam after COVID-19?
We have good news for you: Based on the market signals after COVID-19, you have every reason to make an investment into the Vietnamese real estate industry!
Related: Investment Opportunities as Vietnam Reopens Its Borders
Fortunately, many companies are offering alternative ownership solutions to help you buy and move into your dream home today. One such company is Homebase, a leading Southeast Asian proptech startup that has broken many grounds. They are able to use market expertise to help foreign owners and are financially backed by some of the most prestigious funds around the world: Y Combinator, Antler, VinaCapital, Partech Partners, among others. The company raised 30 million USD in November to help people buy and sell homes more easily.
To learn more about Homebase, sign up here or call their team at (+84) 964 245 404.
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Source: Vietnam Insider