The HCM City property market is expected to remain strong this year thanks to the country’s robust economic growth last year.

According to American real estate services firm John Lang LaSalle, mergers and acquisitions in the sector will continue to attract great interest among international investors, especially Japanese, Singaporean, Chinese and South Korean companies, and could reach record levels of almost US$2 billion, up from $1.5 billion last year.

New housing launches will continue at a similar pace as last year and the focus will be on the affordable and mid-priced sectors.

In the office space segment, two grade A buildings were launched at the end of 2017, but there will be no more until 2020. With the occupancy rate being 92 per cent prices are expected to increase.

In other news, Nhip Cau Dau Tu (Investment Bridge) magazine will give away the 2017 Outstanding Real Estate awards at a ceremony later this month.

The awards are based on business achievements and management in the real estate sector.

They will be given in the following categories: outstanding designer; outstanding developer; outstanding distributor; construction materials provider and construction enterprises; real estate business people of the year; best feng shui project; and best public infrastructure project. — VNS