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Mortgages replace cash as Vietnam housing rebounds
Published Mon, Dec 7, 2015 · 09:50 PM
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Ho Chi Minh City
LE Trang, an office worker, and her husband Hung didn't think they could afford a three-bedroom apartment in a high-rise in the suburbs of Ho Chi Minh City. The availability of a mortgage to finance the purchase of a one billion dong (S$62,500) condominium changed their course.
The newly-weds secured a 15-year mortgage for the 78 square metre unit, joining tens of thousands of first-time buyers in Vietnam that are fuelling an explosion in the US$40 billion home-loan industry.
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