A group of real estate agents in Vietnam are calling on the government to create a national registry of foreign buyers to curb the rising number of homebuyers from countries such as China and India.
The agency said it was working on setting up a national list of buyers, which would be based on the number of foreign-owned properties in the country.
The government has been working on the idea of establishing a national housing registry, which is aimed at helping citizens get a handle on how much they’re spending on housing and the amount they’re paying.
“The number of buyers from countries like China and Indian countries are increasing exponentially,” said Nguyen Ngoc Phang, vice president of the Binh Duongs Real Estate Agency in the southern city of Ha Tinh.
“So we’re trying to help them to get a feel for what the real estate market is like in their country.”
Nguyen said the agency has received dozens of applications from buyers from all over the world who want to get their hands on properties.
He said they are also trying to get information from people who are foreign-looking in Vietnam who are trying to purchase homes.
Nguyen’s agency is also working on creating a website that would allow the public to access a list of properties they are interested in purchasing.
Nam Phuoc Minh, an economist at the Binhs real estate agency, said many of the people who come to Vietnam are looking for a cheap home in a cheap area.
“We know they’re going to buy from the local market.
So what are they thinking of?
They’re looking for cheap homes,” he said.
Ngoc said some foreign buyers come to the country looking to earn a living, but they also look for the opportunity to purchase a house for their family.
He added that he was surprised by the demand for properties from China and said he hopes that the government will help the market develop by setting up national housing lists.
In January, the government announced it would create a housing registry for foreigners living in Vietnam.
The registry would include information about foreign buyers, property types and the type of properties owned by foreigners.
The list would be published online.