Overseas remittances fuelling boom in Vietnamese property market
A healthier economy in US, where many of the diaspora live, and Vietnam's improving prospects are encouraging people to send money home
Hanoi
ENCOURAGED by an easing of real estate laws and a thriving economy, the Vietnamese diaspora is sending record homebound remittances and adding impetus to the property sector now undergoing a boom after emerging from the doldrums.
House and condominium buys - in cash - will bolster the market recovery just as the State Bank of Vietnam (SBV) prepares to tighten criteria on domestic home loans to avoid a repeat of a painful 2011 collapse that left US$6 billion of unsold properties and banks crippled by bad debt.
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