Vietnam's 41st anniversary of reunification, viewed from the perspective of Ho Chi Minh City.

A booming economy, increased foreign investment, and the emergence of a growing middle class have created strong demand for real estate and significantly transformed the face of Ho Chi Minh City as well as the Vietnamese economy.

Since April 30, 1975, Vietnam's economy has undergone increasingly encouraging changes. Over the past four decades, from a country with a low starting point, Vietnam has become an attractive investment destination in Asia. Ho Chi Minh City, in particular, is currently the city with the greatest improvement in the world, according to real estate firm Jones Lang Lasalle (JLL).

In the real estate market, Ho Chi Minh City – the economic center – and Hanoi – the political center of the country – have begun to develop rapidly after specific regulations on transactions and ownership were implemented.Real estate was enacted in 2003. In recent years, strong economic growth, increased foreign investment, and the rise of a middle class have created a truly strong demand in the market.

Famous brands from Louis Vuitton to Starbucks are rapidly expanding their business locations nationwide, and companies in the fast-moving consumer goods (FMCG), information technology, insurance, and financial sectors are predicted to be major drivers of demand in the real estate market.

The infographic below by JLL chronicles the development of the real estate market since the early days of the Doi Moi (Renovation) policy in 1986 and provides an overview of the promising future of the real estate industry in Vietnam.

According to VNE