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Dec

06

Mortgages Replace Sacks of Cash as Vietnam Housing Rebounds

By Tony Seruga

Loans surge 22% in nation known for all-cash home purchases
Young working professionals driving demand for mortgages

Le Trang, an office worker, and her husband Hung didn’t think they could afford a 3-bedroom apartment in a high-rise in the suburbs of Ho Chi Minh City.

The availability of a mortgage to finance the purchase of a one-billion-dong ($44,490) condo changed their course. The newly-weds secured a 15-year mortgage for the 78 square-meter (about 840 square feet) condo, joining tens of thousands of first-time buyers in Vietnam that are fueling an explosion in the $40 billion home-loan industry…

Mortgages Replace Sacks of Cash as Vietnam Housing Rebounds

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