Vietnam property crisis pressures call for urgent action

With about US$4.6bil of property developer notes tracked by Vietnam’s bond association coming due next year, the firms will struggle to meet obligations without government support, according to local real estate executives and analysts.

HANOI: Time is running short for Vietnam to prevent a worsening property sector credit crunch from derailing one of the world’s fastest economic expansions.

With about US$4.6bil (RM20.4bil) of property developer notes tracked by Vietnam’s bond association coming due next year, the firms will struggle to meet obligations without government support, according to local real estate executives and analysts.