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You are here: Home / Phu Quoc real estate market forecast to grow, driven by upgrade into first island city

Phu Quoc real estate market forecast to grow, driven by upgrade into first island city

A corner of Phu Quoc Island. The real estate market of Phu Quoc in the Cuu Long (Mekong) River Delta of Kien Giang was forecast to be robust as the island district has just been given the green light to be upgraded to the country’s first island city in March this year. — Photo danviet.vn The real estate market of Phu Quoc in the Cuu Long (Mekong) River Delta of Kien Giang was forecast to be robust as the island district has just been given the green light to be upgraded to the country’s first island city in March this year. According to Nguyen Manh Ha, Deputy President of the Viet Nam Real Estate Association, the upgrade into an island city would create a new push for the real estate market of Phu Quoc, especially as the island was among top tourist destinations in recent years. Ha cited statistics that Phu Quoc welcomed more than five million tourist arrivals in 2019, a 27 per cent increase over 2018. In 2020 when the COVID-19 pandemic heavily affected the tourism industry, the island also saw significant increase of around 50 per cent in tourist arrivals in November and December when domestic travel… Read full this story

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