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Property Prices Fall in Vietnam

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Property prices in Vietnam have fallen, particularly in the major cities of Hanoi and Ho Chi Minh City. According to some reports, the drop in prices has brought them back to be more in line with their real value, which may spark some interested buyers to return. Investors are encouraged by the local market conditions and encouraged by the situation.

Hotels and properties that serve the tourist market have been most in demand because of the increase in travelers in the past few years. The current supply of places to stay has not been able to keep up with demand. Additionally, commercial centers have been a target of foreign investors looking to take advantage of the growing economy.

A recent development broke ground in Ha Long, Quang Ninh province. This project, estimated to cost US $135.7 million, will include office space and residential quarters. There are plans for as many as 1,200 offices and retail units and housing for at least 70 families. The development is scheduled to be complete in 2016.

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