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Trade: Increasing Gold Price Pushes Real Estate Deals Down.
(From Vietnam News Briefs)
Real estate centers in Ho Chi Minh City have reported a sharp fall in the number of property transactions and customers, financial experts said, and blamed the situation on rising gold prices.
Only two transactions worth 310 taels of gold (a tael = 1.2 troy ounces) were struck at the ACB Real Estate Center at 29 Nguyen Dinh Chieu Street in District 1 and one of its branches from September 7-14, compared with four in the previous week.
The number of sellers at the center has dropped. Vo Dinh Quoc, deputy director of the center, said that people had submitted 159 property sale dossiers to the center last week, down by nine …
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