Sittichai Real Estate Agent
  • Home
  • About us
  • Property for sale
    • Land >
      • Beachfront 2 Rai, Jao Samran Beach
      • Beachfront 56.5 Rai, Puektian Beach
      • 3-1-50 Rai, Ratchada 36
      • 3.5 Rai, Lasalle
      • 4 Rai, Buddhabucha 39
      • 7 Rai, Prachauthit
      • 8.5 Rai, Buddhabucha 39
      • 38 Rai, Pathumthani
      • 102 sq.w. Prachauthit 79
      • 223 sq.w. Buddhabucha 39
      • 200 sq.w. Sukhumvit 70/3
    • House >
      • 2 flr. 31sq.w. Lad Proa 71
      • 2 flr. 64 sq.w. Chalearmprakiatlor 9
      • Villa 223 sq.w. Phetchaburi
      • Villa 3-1-50 Rai, Chiang Mai
    • Townhouse >
      • Ratchada Arkadian 29.9 sq.w. Kanjanapisek
      • Bangkok Green Park 36 sq.w. Jaroennakorn
    • Condominium >
      • The Bangkok Narathiwat 75 sq.m. 2 bedroom, Narathiwat Ratchanakarin
      • Baan Nubkluen 62.11 sq.m. Hua Hin
      • Lang Suan Ville 191.72 sq.m. 3 bedroom near BTS Chidlom
      • Liberty Park 252.99 sq.m. 3 bedroom Sukhumwitt 23
      • Prestige Towers 254 sq.m. 3 bedroom Sukhumwitt 23
    • Home Office >
      • 2 Unit 3 flr. 32 sq.w. Sukhumvit 70/3
      • 2 Unit 4 flr. 34 sq.w. Sukhumvit 48
    • Office Building >
      • 5 flr. 576 sq.m. Ratchada 26
    • Factory >
      • 5,936 sq.m. 12 Rai Samutprakarn
    • All
  • Property News
  • Real Estate Tips
  • Contact
085-255-5565

Vietnam’s serviced apartment market faces hurdles, but growth

12/8/2011

Comments

 
Despite a real estate quagmire in Vietnam, the serviced apartment market appears stable and could emerge strongly from the economic downturn, CB Richard Ellis analysts said.

CBRE Vietnam managing director Marc Townsend presented the company’s December report at the “Vietnam Serviced Apartment Investment Conference 2011,” saying that pressures on the market include “falling rents and fewer tenants due to the worsening economic situation, as well as stiff competition from individuals buying apartments for sublease.”

Still, Vietnam will see an increase in younger, short-term foreign professionals in the coming years, target consumers for serviced apartment. There are only 3,595 existing serviced apartment units in Ho Chi Minh City, while the number of work permits for foreigners in the city last year jumped to 6,700, excluding ‘grey’ expats, or those working without permits, Townsend said during the conference, according to Tuoi Tre News.

Townsend reported that serviced apartments offer professionals “better security, less hassle and with better facilities.” They also allow for avoidance of lease negotiations and the challenges of obtaining a VAT invoice, unlike traditional leases. There are also, “systematic, professional promotions and incentives.”

He also pointed out that the serviced apartment market has been more resilient than other markets, such as the office rental market. Office space rental prices shot up four years ago, then crashed in mid-2009, while serviced apartment rental prices have experienced steady growth. In addition, occupancy of the apartments recovered more quickly than in the office space market.

by Property Report Asia
Comments
    Picture

    Author

    ข่าวสาร สาระน่ารู้ ที่น่าติดตามของตลาดอสังหาริมทรัพย์ไทย

    ติดตาม @ThaiRealtyNews
    Click to Hot Line
    Picture
    Picture
    Picture
    Picture
    Picture
    Picture
    Picture
    Picture
    Picture
    Picture
    Picture
    ติดตาม @ThaiRealtyNews

    RSS Feed

    • Home
    • About us
    • Property for Sale
    • Property News
    • Real Estate Tips
    • Contact
Powered by Create your own unique website with customizable templates.