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Khaw Aik Heng, the Project Director for Apave in Vietnam and Southeast Asia, explains that foreign investors need not worry about the security of their investment, when funding Vietnamese real estate market. Rather, what investors need to do is gain a proper understanding of the market.

According to Khaw, Vietnam's financial system is different. The construction industry and property development requires money, payment and big infusion of cash in a very short amount of time.

"In general, it is more difficult here in that aspect. For example, cheques are not commonly used as a payment instrument, so payment is done by depositing into accounts. So if I make payment to you, I have to go to the bank and make a withdrawal from my account and deposit the money into your account. However in Kuala Lumpur, we use a lot of cheques, which makes small contracts easier to arrange," says Khaw.

However despite these obstacles, Khaw believes that the growth in tall buildings in Vietnam should be healthy in the next decade.

Khaw says that in 10 years time, there will be a need for tall buildings due to population growth. All these buildings will definitely be occupied because more supermarkets, hospitals, schools and other buildings are needed.

"Of course in the short term you may face hiccups, like financial crises and bottleneck issues. People have overbuilt office buildings for example. Overall, I believe good property is still very much in demand," says Khaw.

Khaw notes that a good developer needs to come in with a good scheme, a good idea and good plan for a long term.

"I believe there are still a lot of opportunities to develop township, mixed development and stuff like that. Construction and property are very interesting fields. The risks are high, but it is work that needs to be done," explains Khaw.

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