Trump – Kim summit & Vietnam property market

Trump – Kim summit will soon take place on 27 & 28/02/2019 in Hanoi – the capital of Vietnam. How will this significant international event affect Vietnam and in particular the local property market?

“As if Vietnam was not already at the top of many investor’s minds, the country is given a publicity gift in the form of the Trump – Kim summit!  After the exceptional 7.1% GDP growth in 2018 and average visitor number growth of 15.3% over the last 5 years, Vietnam is set to see an unforeseen additional boost in 2019.  This can only be good for the economy and sectors ranging from manufacturing to tourism. Savills are certainly hoping there will be some positive spill over for the real estate market.”

Neil MacGregor, Managing Director Savills Vietnam

“The first Trump – Kim summit brought a record increase of international visitors to Singapore last year. For the second summit, which will take place in Hanoi, demand for hotel rooms the city is expected to sharply increase during a few days around the summit due to the attendance of politicians and delegations, media, security and logistics personnel… This political event has been drawing attention from international media channels. The image of a hospitable, safe and peaceful Vietnam will be portrayed and broadcasted all over the world, thus creating a huge opportunity for our tourism industry to attract more international visitors.”

Nguyen Hong Son, Director Advisory Savills Hanoi