Foreign housing policy speculation

With foreigners expected to be allowed to buy houses in Vietnam in the near-future, HCMC property dealers have begun to up their prices. Investors have been swallowing the high prices as they expect to re-sell the properties to foreigners at even higher rates later. But as would-be future policies of foreign buying are unclear, such investors might be fishing for a red herring. The momentum behind those who want to buy and then sell expensive property to foreigners has set off a rise in HCMC land plot prices, especially in district’s 2, 7 and Nha Be, that may not last.