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Vietnam’s Real Estate Market is facing a major headache as prices have risen by more than 50% in the past two years, according to a new report from Experiencionales en el Rupion in Viet Nam.
In addition, more than 5,000 apartments have been listed on the market, and prices have doubled since the last update in 2016.
Rent is rising as landlords are increasingly searching for cheaper properties, the report states, citing a number of factors.
The average monthly rent in Vientiane, Vietnam is $2,000, while the average monthly salary in the city is around $8,000.
The market is a key source of income for many families in the region, especially the elderly and the poor, the study says.
The high rents have led to a decline in the number of new rental units, according the report.
The region is facing severe pressure to meet the population’s demands for housing.
As of February 2018, the government had only 1,846 housing units available, with another 1,800 units still being available.
This means there are currently more than 2,000 vacancies in the housing market, according Experienciales.
This has led to the increased number of property listings on the website.
In order to compete with the rising rents, property owners are now looking for cheaper rents, according a local real estate broker.
«The problem is not a lack of demand.
The problem is the lack of supply,» said an unidentified real estate agent who requested anonymity.
«In the market for apartments, we have not seen a shortage of units, but we have seen a demand surge,» he said.
The real estate market is still not fully stabilized, with rental prices not keeping pace with population growth, according Toch Nhan, vice president of the Vietnam Association of Real Estate Professionals.
This will cause an acute shortage of apartments, he said, adding that prices have increased in the last three years.
In a report last year, the association predicted that by 2020, Vietnam’s population would increase by 9% to more than 28 million, while rents would increase from about $3,000 per month to nearly $7,000 by 2025.
In 2017, the city of Hanoi was able to get rid of its housing crisis by providing subsidies of up to 30% of the rent.
The government also announced a series of measures to combat housing shortages last year.
These included the construction of 8,000 new apartments, which was part of a plan to build 1,200 new apartments in 2018.
However, these apartments will only be able to house about 25,000 people, and the government has not yet announced plans to build more.
In 2018, Vietnam recorded a 6.1% increase in the country’s population, while its unemployment rate remained at 3.9%.