Southeast Asia Outlook 2023: Bouncing Back Stronger
Southeast Asia (SEA) is expected to be one of the leading sources of growth for the global economy as the United States and Europe tiptoe around a potential recession.
Our latest paper explores how Southeast Asia real estate market is positioned to develop given the latest economic and property trends. We look at the impact of China’s re-opening and rising interest rates and provide our views on investment opportunities, rents and capital value outlook for major property markets in SEA.
2022 witnessed a recovery of Vietnam’s economy, with GDP growth recorded at 8%, exceeding previous forecast by most economic institutions (6.5 to 7.5%). In 2023, despite gloomy global economic outlook, Vietnam’s economy is still expected to maintain stable growth as GDP growth is forecast between 5.9% to 7.3%. However, caution and uncertainty remains the general sentiment coming from various anticipated challenges such as Vietnam’s reliance on trade activity with global partners, increasing inflationary pressure,
and tightening monetary and fiscal policies in many countries.
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