Real estate prices in Vietnam are skyrocketing and the real estate market in the country is also heating up.
But for some buyers, the realty boom has put them in a bind.
Real estate agents say that for many people who have been priced out of Vietnam by the property market, finding the right home is a major hurdle.
In recent months, Vietnamese authorities have cracked down on brokers selling properties for as little as $200,000.
«You cannot buy a home for under $200k.
You have to pay an upfront fee and then you pay a higher rate later,» said Nguyen Ngoc, an agent who has been working in Vietnam for about two years.»
You have to find a property for under this amount and that’s when the real cost starts to be borne by the buyer.»
Nguyen Ngoc has been selling houses in the province of Nha Trang since 2007.
He says the current surge in property prices in the capital city of Ho Chi Minh City is the result of the rising cost of living.
Since the start of the year, property prices have risen by more than 30% in the city alone.
«In the past, there used to be a lot of empty houses in Ho Chi Nam, now they are filled with people,» he said.
«In Ho Chi Nha, the houses are so much more expensive.»
In Vietnam, the average house price has risen by about 40% in less than a decade.
But the average price for a single-family home has remained steady at about $1.6 million a year since the year 2000.
«This is a very good thing, as the economy is growing and people are more able to afford the rent,» Nguyen said.
However, it has also put a squeeze on rental income for many Vietnamese.
A new survey by the Vietnam Economic Research Institute shows that the number of renters in the nation has grown by almost 40% since 2007, to 1.4 million.
With prices rising, many Vietnamese are finding themselves short on cash.
Vietnam’s official currency has lost about 25% of its value since the start (September 2016) of the economic crisis.
It is currently worth about $US1.1 million ($1.3 million).
The government is now hoping to boost the supply of cash through a new measure, called the Vietnam Development Assistance Fund.
But many believe that the scheme will only help the government keep the economy afloat, not provide any real solutions.
In recent years, the Vietnamese government has sought to help low-income people, who are struggling to pay their mortgages.
The scheme will help them buy their first home for less than the current price.
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Read more about house prices, Vietnamese real estate,vietnam source ABC News (AU) title Vietnam real estate boom fuelling the rise of property prices: expert article Ho Chi Nanh city is a city in Vietnam’s far west where property prices are sky-high.
A new wave of speculation has been building up over the past two years as Vietnam has seen its economy shrink, and with it its real estate industry.
The boom has helped drive up the prices of homes, including the most expensive ones, and in some cases led to a spike in the number and types of houses being sold.
But there are a number of things that can be done to help people cope with the surge in house prices in a country where more than 70% of the population is under 25.
What can you do?
A number of measures can help to help lower your mortgage costs, especially if you have an existing loan.
A lower interest rate means the value of your home will be less, so you can get on a better footing with the loan and pay down your debt.
For people who are under 30, a 20% down payment is a good way to start.
But, even if you are at least 30, the rate of interest will still put you at a huge disadvantage.
For instance, the interest rate on your current mortgage rate of 4.75% is equivalent to 6.3% for a 30-year mortgage.
In Vietnam’s case, the lower the interest rates, the greater the likelihood that you will lose your home, as it is not insured against a property collapse.
You can also use a home equity loan to buy your first home, which is often cheaper than buying your own home.
Home equity loans are typically available for people who do not have a mortgage.
You can apply for one online or through your local bank.
The lender will then pay a fee of around 2% per year.
The government also provides financial assistance to help young people save for their first homes.
You can apply online or at a local branch of the bank.
You need to pay a small monthly fee of $150 to