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Hanoi’s property agent, who works for a company that sells homes to foreigners, is selling some of his own homes to the highest bidder.
Hanoi is one of many foreign properties agent companies that are taking advantage of the rise in property sales to Vietnam.
It is an effort by the government to encourage more foreign buyers to purchase Vietnamese properties.
The property agent is not a licensed agent and cannot legally do the bidding.
There are also some limitations on the bidding, such as that the agent cannot be an individual or company.
A lot of the time, he will have to get a business license from the local government.
For some Vietnamese, there is an element of desperation, as they are unable to get the real estate they are looking at for less than what they paid for it.
Vietnamese have long complained that they are being squeezed out of their homes and forced to sell their belongings to foreigners.
In the first six months of 2018, Vietnam was the first country to have the highest rate of sales of properties in the world.
But in the first half of 2019, sales of homes in Vietnam dropped by about 50 percent from the same period in 2018.
At the same time, the Vietnamese government announced plans to cut down on immigration from Vietnam, including ending the so-called «Hanois-friendly» rule, which allows foreign workers to live and work in the country.
While the government is trying to boost the country’s property market, it is not doing enough to make it more affordable to the Vietnamese.
«We don’t have the same money, and it is a real issue,» said Luang Phong, owner of a house in a village near Hanoa.
Some of his neighbours are also struggling to pay the bills on their homes.
This year, Luang bought a property with a 3,000-yuan (about $4,600) price tag and is still paying about $1,000 a month on it.
Luang said he has not paid a single cent since buying the property, because he has been unable to find work in Vietnam.