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Asia Today ISSN 1861-4604 Thursday, August 16, 2018

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Vietnam property picks up

Vietnam´s property market is bouncing back from a period in the doldrums

Share on Facebook September 28, 2013, Reporter : BigNewsNetwork, Reader : 606

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Vietnam's property market is bouncing back from a period in the doldrums. Investors are moving back into the real estate market following what some observers have said is a bottom.

The four-year bear market was brought on by extreme speculation, including the quick buying and selling of properties.

The so-called flipping craze caused the country's property market to hit the wall.

The decline was also helped by crushing double-digit inflation and lending rates above 12 percent.

Credit for developers dried up and the cost of imported materials and labor became too expensive.

Vietnam's property laws have since been changed and the prices will now be allowed to rise or fall, without intervention by the government.

There are also plans to introduce new regulations allowing foreigners to purchase both apartments or land and to permit them to rent out those properties.

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