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Vietnam’s housing market has been buoyed by a booming property market in the south and north, but that has not been the case for the country’s capital, Ho Chi Minh City.
On Tuesday, the central bank said the country was still on track to sell more than 20 million hectares of land for private development.
It said the market was expected to rise to 25 million hectares in 2020.
Ho Chi Manh City is one of the largest cities in Vietnam, home to the world’s third-largest economy and the largest port on the country.
The city’s main commercial area, where many expats are staying, has become a popular tourist destination.
In recent years, Vietnam has been increasingly diversifying its economy, diversifying from the old agricultural base to the burgeoning urban centre.
Vietnam’s economy is estimated to be worth $5.4 trillion and its per capita income is estimated at $1,250.
According to the government, the average annual household income in Vietnam was $30,972 in 2016.
But according to data compiled by the International Monetary Fund (IMF), the average income of a Vietnamese household is about $25,000, which is only slightly higher than the national average.
Vietnam has also seen its population grow from 1.1 million people in 1950 to more than 4 million today.
This growth is being driven by the rapid development of the country, with more than 80 per cent of the population living in cities and more than 30 per cent in rural areas.
The average household income per capita in Vietnam in 2020 was about $20,874, which was higher than in Germany and Spain.