The HCM City real- estate market could not recover this year as buyers were waiting for prices to fall further and were unable to get loans to buy property, according to some experts.
Le Hoang Chau, chairman of the HCM City Real Estate Association, said prices had fallen by an average of 40-60 per cent, although losses of up to 70 per cent were not uncommon from the peaks at the beginning of this year.
He said the market remained frozen, with hardly any deals taking place. Even potential buyers said they were hoping for prices to fall further, he added.
