US$1 billion remittances go to real estates in HCM City
(VOV) - Overseas Vietnamese (OVs) remittances to HCM City hit US$4.76 billion in the first 11 months of this year, said Nguyen Hoang Minh, deputy director of the State Bank of Vietnam (SBV), HCM City branch.
Hoang said the amount transferred to real estates accounted for 21.6% (equal to US$1 billion), up 0.8% against the corresponding period last year.
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OVs remittances to the city are estimated at US$5.5 billion this year. If the rate of 21.6% is maintained, the amount transferred to real estate will reach US$1.2 billion.
Experts forecast that the money transferred to real estates will increase in the coming time when the market becomes bustling. Many OVs in Australia, the US and the UK want to return and live in Vietnam when they get older. Besides, the revised Housing Law also facilitates foreigners to buy houses in Vietnam.