Vietnam's HCM City, Hanoi among most dynamic growing cities: report

Source: Xinhua| 2019-01-17 19:06:48|Editor: xuxin
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HO CHI MINH CITY, Jan. 17 (Xinhua) -- Vietnam's Ho Chi Minh City and Hanoi remained among the global Top 10 most dynamic growing cities in JLL's Short-Term City Momentum Index (CMI) 2019, which tracks socio-economic and commercial real estate growth in 131 cities over a three-year period, Vietnam News Agency reported Thursday.

With Hanoi in third place and Ho Chi Minh City eighth, Vietnam was the strongest performer with two cities ranking the highest in ASEAN, said global real estate services firm JLL.

"Ho Chi Minh City is generally viewed as the more business-friendly destination attracting more overseas investment along with a higher corporate presence, whereas Hanoi has lagged commercially but is a city that is swiftly evolving," said JLL.

On the real estate front, Vietnam has "a small real estate investment market struggling with issues such as low transparency and a limited volume of investment grade stock," JLL added.

However, steps are being taken to improve transparency, such as enhanced access to the land registry, better valuation practices and increasing application of green building certification system, it said.