Vietnam's property market sees rapid turnaround

Hanoi

BROUGHT to its knees when its property market bubble burst four years ago, Vietnam is riding into another boom, with construction starting in Ho Chi Minh City on two of the world's tallest skyscrapers and buyers snapping up new projects fast.

The speed of the market's turnaround has been startling. Successful property transactions have doubled from a year ago, and developers have halved their unsold inventory from US$6 billion at the peak of the crisis at the start of 2013.