FDI inflow in real estate rises four times in Q3

New foreign direct investment (FDI) in the real estate sector increased four times quarter-on-quarter to US$2.35 billion in the third quarter, according to the Ministry of Planning and Investment.

The FDI inflow in the sector in the first three quarters of this year added to US$3.2 billion, accounting for 15% of the total figure.

The Construction Ministry said despite the double impact by the return of the COVID-19 pandemic in July and the low season in the seventh lunar month which is considered a “bad luck” period, the surge in FDI in the sector is a positive signal.

According to the ministry, most businesses in the real estate sector have resumed operation after two waves of COVID-19. They have taken measures to approach customers, and even look to new areas to anticipate the shift in the FDI flow and the trend of urbanization outside major cities.