ASIA
Another big change is that foreignowned entities are now able to buy and then sublease their spaces out . David Jackson , General Director and owner of the Colliers International ’ s Vietnamese branch explains : “ At lower levels , serviced offices can sublease space to other people , and at more advanced investment levels it means they can look at sales and leasing the buildings .
“ The government is clear that they want foreign investment ,” he continues . “ Transactions are quicker . Before if you were looking to transact on an office building you ’ d have to go to the Ministry of Investment , the Ministry of Finance , the Ministry of Construction . Now you can just purchase and own 100 percent of the shares of the company that owns that building , and the transaction can take a day . There ’ s confidence and help to grow business here . It ’ s a good place to come .”
Investor profiles The majority of the foreign nationalities investing in corporate real estate here are Korean and Japanese . Typically they ’ ll also buy land where they know there will be development in years to come . “
They ’ re investing here heavily and have been for some time ,” Jackson explains . “ They ’ re confident , they know the market as it ’ s close to them , and they ’ re also involved in the construction projects .”
In terms of residential real estate , there is currently a boom . Around 75 percent of the buyers are speculators and investors , who are buying properties and then flipping them to other parties before having to make the final payments on the exchange . “ The best way to describe it , as somebody said to me the other day , is rather than buy a bottle of shampoo you buy a small sachet ,” Jackson says . “ It ’ s a quick , easy money , flip mentality .”
Insider tips For a first time property buyer , Jackson says the most important thing is to have a clear set of criteria , whether the purchase
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