Surging property prices put Vietnam’s major cities among the least affordable in S-E Asia
The rising cost of homes in Ho Chi Minh City and Hanoi are being fuelled by a severe supply crunch and speculative buying
[HO CHI MINH CITY] Vietnam’s housing market is under immense pressure as prices continue to soar, with Ho Chi Minh City – the country’s business and financial hub – now one of the most unaffordable cities in South-east Asia for locals, surpassing the likes of Bangkok, Jakarta and Singapore.
A growing population, speculative buying and stagnant supply are pushing prices far beyond income growth – mirroring challenges faced by some of the world’s major cities.
“There is definitely a historically low supply of residential stock in Ho Chi Minh City,” said Savills Vietnam’s deputy managing director Troy Griffiths.
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