Real Estate Market Likely to Get Heated Late This Year, Vietnam Real Estate Market News
Vietnam Business » Vietnam Real Estate Market News » Real Estate Market Likely to Get Heated Late This Year
Fledgling and huge potential, the Viet Nam real estate market has opened many opportunities for dynamic investors. With the growth rate of over 30 percent a year, it has a large attraction with the smart money flow. The Prime Minister has recently issued a direction No. 854CT-TTG to approve in principle a plan by the Ministry of Construction to set up a real estate business group. This is one of good signs to heat the real estate.
Fever beginning in early 2007 to late 2008 is the hottest fever that investors have witnessed so far. Huge capital mobilised from the stock market, FDI capital and expanding loans for real estate projects swallowed up small capital provisions. Investors with excited psychology bought most of real estate projects without their quality and potential. Not only hot real estate projects at that time such as Phu My Hung, Thao Dien, Him Lam Kinh Te, the fever also spread to projects in outskirts of neighbouring provinces of Binh Duong, Long An and Dong Nai. Although land and high-grade apartment prices were marked up, they did not meet the demand. Many people had to buy back permission to buy high-grade apartments of others with the deference in price of hundreds of million Vietnamese dong.
Vietnam Business And Financial News Network. Source [vcci]
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