Friday, November 16, 2007

Vietnam catches real estate fever

There's a real estate boom happening in communist Vietnam, where prices are soaring on properties yet to be built and investors are camping in the streets to get first chance to buy.

Western-style suburbs and apartment blocks are sprouting up, driven by more than 8 percent annual economic growth and a stock market that has given investors ready cash to spend.

Realtors say the pace is so hot that supply cannot match demand, which is sending prices zooming off the charts -- no mean feat in a country where per capita GDP is under 1,000 US dollars.

Vietnam Real Estate News

Chao Vietnam Properties