Incomplete Projects Hamper Vietnam

• Proeksa Meas
• 27 July 2017
• Construction Focus
• 2438 Views

Despite Vietnam’s real estate market grabbing attention and headlines for its strong performance in recent years, prospects in the north continue to be hampered by large numbers of incomplete projects.

Hanoi recorded 5,400 transactions and HCMC 5,870 respectively between January and May 2017 with May showing a strong average of 13 percent growth nationwide.

The majority of deals are being transacted in the middle to high-end sectors though only supply is placing limits on affordable housing sales.

However, 12 of the 47 new developments in Hanoi remain incomplete more than 10 years. The capital’s Me Linh district is especially hardest hit with incomplete developments spread out over 1, 800 hectares.