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The market lacks stable development

 

Due to lack of stable development, Vietnam real estate market is stuck in slump with too much supply, especially of resort property. According to Managing Director of CBRE Vietnam Marc Townsend, growth rate of Vietnam’s resort property market is currently too high. In coming time, competition in the market will be fiercer as more properties will be put into use. Developers need to have right choice of resort manager to avoid losses of time and money, said Patrick Basset, Vice Chairman of Accor Group at the Vietnam Tourism Property Management 2011 seminar.

 

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Source: DAU TU CHUNG KHOAN – Date: 19/09/2011