Real estate products selling off, but at… high prices

VietNamNet Bridge – The real estate sale-off should is not a big problem to the national economy at all, and no need to worry about the fate of banks and real estate developers, said Professor Dang Hung Vo, former Deputy Minister of Natural Resources and the Environment, who is now considered the leading real estate expert in Vietnam. Real estate sell-off wave raised The real estate price reductions in HCM City prove to be inevitable, because real estate developers need money to pay bank debts. Some people believe that this is just a “trick” played by the investor to mobilize capital from the public. But I think we still need to make thorough consideration before making conclusions. Nevertheless, it would be a quite normal thing if investors have to cut down the sale prices to boost sale to get money back for debt payment. People believe that the real estate prices have become too low and bottomed out. As you may know, some real estate projects on Le Van Luong Road in Hanoi have seen the prices down by 2-3 million dong per square meter. Meanwhile, in HCM City, the sharp fall of 3.5 million dong per square meter has been announced for Saigon Mekong project’s apartments. What would you say about the price levels? I know some projects whose price has plummeted from 26 million dong to 16 million dong per square meter. However, I still do not think that these are the sharp falls and the real estate…