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Vietnam high-end home prices could fall over 10%, expert warns

High borrowing costs punish property speculators in Southeast Asian nation

Vietnam is experiencing a rare reversal in its property market with an oversupply of high-end apartments and shortage of regular housing. (Photo by Lien Hoang)

HO CHI MINH CITY -- High-end home prices in fast-growing Vietnam are poised to fall this year as property speculators struggle with higher mortgage costs and are being forced to sell, according to industry executives.

The warnings were made at a conference on Feb. 23, and came only days after the Vietnamese government signaled concerns about the mismatch in the supply of luxury and affordable housing. It urged builders to switch to less expensive homes even at the risk of incurring temporary losses.

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