Anti-corruption drive drove up Viet property prices: report

Vietnam's anti-corruption campaign has led to the unintended consequence of surging property prices in Ho Chi Minch City in particular, but measures to alleviate this should eventually help to stabilise the market, according to an article in the latest issue of ISEAS Perspective.

In an article titled The Impact of Vietnam’s Anti-corruption Campaign on the Real Estate Sector, researcher Le Hong Hiep noted that since 2017, inspections and investigations have been launched into hundreds of property development projects, especially in Ho Chi Minh City, Da Nang and Hanoi. The key targets of this drive against land management corruption are projects that sourced land from state-owned enterprises or public entities.

These investigations have uncovered several major corruption scandals. But they have also caused delays in the licensing process for property projects, leading to a fall in new supply and surging property prices.

Read the full original article at The Business Times.

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