Hanoi, Vietnam — When you think about it, the realtors have been the backbone of the Vietnamese economy for generations.But that's changing, and the market is changing too.For one thing, many big players are moving to Vietnam, and in doing so, the number of people in the country has more than doubled.That has led to a surge in the number and quality of homes being sold.The new supply of homes al...
By Ben WhiteHouse, October 4, 2018Vietnam is a country with high housing prices.
Many locals believe they should be able to pay their own way to the top of the property ladder.
The country’s political elite and wealthy locals also think the government will provide a fair and level playing field for their businesses.
However, Vietnam’s housing market has been riddled with corruption, with both political parties abusing their position to push their own agendas.
In Vietnam, people are paid only one-fifth of the salary that they earn in other parts of the world.
This means that if a family does not have enough money to buy a home, it cannot afford to live in it.
In some cases, the family’s entire budget can be cut.
Many people live in their cars and their houses are often overcrowded.
People cannot afford a new car, so they drive to their closest rental house to live.
In addition, many people cannot afford adequate housing because of the government’s policy of paying subsidies to businesses that offer cheap, and often subsidized, housing.
If you or someone you know is considering moving to Vietnam, you should consider the following tips.