Vietnamese wood product makers should take advantage of the warming local property market to spark growth as export demand dwindles, said industry insiders at a meeting last week.

Chairman of the National Assembly Economics Committee Nguyen Duc Kien spoke to Thoi Bao Kinh Te Viet Nam (Vietnam Economics Times) about recent recovery in the real estate market.

Wealthy Vietnamese are buying villas and apartments in coastal resort projects and using them to serve both their vacation and investment needs.

As the real estate sector warms up and anxiety rises about inflationary prices, Deputy Minister of Construction Nguyen Tran Nam says buyers should rely on professional advice and not bank on market rumors.

Southern Food Corporation found to have illegally rented out houses meant for offices

Buying apartments in high-end resorts and hotels has become big business in Viet Nam. Investments usually show quick profits for wealthy investors.

Signs of economic recovery have led to new foreign investment in property development projects, including apartments, office blocks, high-end hotels and resorts in central Da Nang City.

Ho Chi Minh City should strive to improve its investment environment to compete with neighboring countries in attracting foreign direct investment, Deputy Prime Minister Hoang Trung Hai said.

The prices of building materials in Ho Chi Minh City have bounced back by 20-30 percent after languishing for a long time following the resumption of construction activity.

Following the big sale campaign earlier this year, when the prices of apartments were lowered by 30-50 percent, real estate developers have just kicked off a new big sale campaign.

The past two months, the stock market made people looking back on the late 2007’s scenario, which bounced the property price to high levels.