Vietnam property market slowdown is healthy

Vietnam property market slowdown is healthy as it benefits the majority who have real demand for housing while investors are still making large profit from realty projects

Vietnam property market slowdown is healthy as it benefits the majority who have real demand for housing while investors are still making large profit from realty projects, the local state-run online newspaper VnEconomy quoted an unnamed leader of a big construction corporation.

The newspaper also quoted Dang Hung Vo, former Deputy Minister of Natural Resources and Environment as saying that “the regulators should see slowdown in property’s prices and trading as a good opportunity for local realty market to restructure and screen out weak financial and business skill players to be more stable and transparent.

Vo pointed out that house price-to-average income ratio in Vietnam reached 25 times compared with that of 2-5 times in developed countries.

Other analysts and market insiders in the VnEconomy’s poll also support that let’s property market fall further to auto-screen weak players to be stable as the market has not been transparent in the past years with prices flying high compared with people’s earnings on speculation. – Stoxplus.com

Tags: Vietnam Property market, Vietnam property sector, vietnam real estate market

Posted by VBN on Aug 15 2011. Filed under Real Estate. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry