The VN Index is ranked among the group of stocks with the strongest decline in the world of 42 percent since the beginning of the year. However, besides plummeting at some sessions, the VN Index is also unbelievably gaining in some sessions as well.
The real estate market is currently facing a serious crunch, not seen in the last ten years. Both investors and real estate businesses have never faced such difficult times before.
Many real estate businesses have returned to the bond channel to raise capital after an absence in April, mobilizing thousands of billions of Vietnamese dong.
Because commercial banks have tightened control over real estate loans, property firms and developers have to seek alternative ways to raise their capital, and many of them have decided to issue bonds to fund their business.
There has been a serious decline in the real estate market in Ho Chi Minh City in the last few years. Demand has fallen a great deal, with many real estate businesses looking at projects “offshore”.