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Can volatile exchange rate cause price increases in Vietnam housing?

After the strong volatility of USD/VND exchange rate in rent days, there are many forecasts saying that the money flows will change direction and pour into the real estate market, and worries about the price hiking in Vietnam housing market. However, according to CBRE Vietnam, exchange rate modification will not affect much on housing prices. Nguyen Hoai An, Deputy Head of CBRE Vietnam, the recent dong devaluation is due many factors, such as the central bank trying to balance the trade deficit of US$3.52bln, other countries devaluating their currencies past 12 months (up to 28pct). The fact that China devaluated its yuan also increase worries about Vietnam losing its competitiveness against China in term of exports. Not only that, USD also becomes stronger and Fed intends to increase prime interest rate at this year-end.