In its Asia Pacific Investor Intentions report, the American property consultancy said Vietnam's southern metropolis ranked after only Tokyo, Singapore, Seoul, and Shanghai in a poll of more than 490 Asia Pacific-based investors that asked a range of questions regarding their buying appetite and preferred strategies, sectors and markets for 2021.

"Singapore, Seoul and Ho Chi Minh City are set to attract more interest this year."

With the diversification of supply chains encouraging more manufacturing investment, industrial and logistics assets are keenly sought after, it said.

Desmond Sim, head of CBRE'S research team in Southeast Asia, said: "Ho Chi Minh City has already been on the radar of investors in recent years, especially those who are looking to invest in Southeast Asia, as the city is viewed as having the potential for greater appreciation in property values and higher yields."

HCMC has seen a surge in interest in the last five years thanks to Vietnam’s robust economic growth, and foreign investors, mainly from Japan, South Korea and Singapore, becoming interested in its property market.

It attracted nearly $4.4 billion worth of FDI last year, or 15 percent of the country’s total.