Property prices in both Ho Chi Minh City and Hanoi surged in the fourth quarter last year.
The real estate market boil was then kicked up a notch when the central bank ordered local lenders to limit their loans against securities to fewer than 3 percent and doubled the reserve requirement rate.
The move cut the stock market down to size as the benchmark VN-Index soon fell from 1,170 points on March 12, 2007 to 927 by the year’s end.
