Average house price in HCMC exceeds $296,000
The median house price in Ho Chi Minh City has reached more than VND7 billion ($296,000), 32.5 times higher than the average annual household income of just VND217 million ($9,110).
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The real estate sector needs more time to absorb beneficial measures to reduce the two largest obstacles, legal and capital.
The establishment of a land use rights trading floor will help this market operate in an open, transparent, healthy and sustainable manner, said experts.
Property market specialists advocated lowering interest rates on loans for investing in or purchasing social housing items to 4.5-6% per year, down from the current 8.2-8.7%.
The median house price in Ho Chi Minh City has reached more than VND7 billion ($296,000), 32.5 times higher than the average annual household income of just VND217 million ($9,110).
Continuous interest rate cuts and support policies are gradually proving effective, helping ease difficulties facing the real estate market, experts have said.
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