High-Rise Condominium project outside of Saigon, Vietnam
By Peta Tomlinson
On January 1, 2009, Vietnam opened the door allowing foreigners to buy condominiums for the first time, subject to certain conditions. The result was more like a floodgate effect, as cashed-up investors realised how far their money could go in a new market with low entry prices. According to the latest CBRE figures, Vietnam still has the cheapest luxury residential real estate in the region, averaging US$4,325 per square metre in the second quarter of this year, compared to US$8,468 per square metre in Beijing, and US$24,974 per square metre in Singapore. More…
