{"id":44047,"date":"2017-02-14T12:15:02","date_gmt":"2017-02-14T05:15:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-vietnam-real-estate-suffering-from-a-drop-in-overseas-remittances\/"},"modified":"2017-02-14T12:29:50","modified_gmt":"2017-02-14T05:29:50","slug":"is-vietnam-real-estate-suffering-from-a-drop-in-overseas-remittances","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-vietnam-real-estate-suffering-from-a-drop-in-overseas-remittances\/","title":{"rendered":"Is Vietnam real estate suffering from a drop in overseas remittances?"},"content":{"rendered":"


\nThe strengthening US dollar impacts inflows of much-needed kieu hoi
\nTraffic in Saigon (Ho Chi Minh City), Vietnam. Matyas Rehak\/Shutterstock
\nA buttress to Vietnam\u2019s economy, \u201ckieu hoi\u201d or remittances by overseas workers have decreased last year, VietnamNet Bridge reported, citing figures from the State Bank of Vietnam\u2019s Ho Chi Minh City branch.
\nThe city received USD5 billion in overseas remittances last year. Since HCMC usually accounts for more than half of remittances to Vietnam, this means that Vietnam only received around USD10 billion in overseas remittances, compared with USD12.2 billion in 2015.
\nReal estate only drew 21.6 percent of remittances last year, compared with 52 percent in 2014, according to bank figures. In 2015, the sector attracted around 20 percent of kieu hoi or a share of USD2.5 billion.
\nMore: Cambodia, Vietnam ranked best Asian countries to retire for US citizens
\nAround 70 percent of kieu hoi were funneled into businesses and production in 2015, according to Central Institute for Economic Management.
\nExperts chalk up the drop in overseas remittances to recent raises in the US Federal Reserve interest rates and the strengthening of the greenback relative to the dong. Around 60 percent of overseas remittances come from the US.
\nLow service fees and preferences for kieu hoi recipients could serve as stimuli to remittances, according to Tran Thi Mai Huong from the Hanoi National Economics University.
\nRead next: The ultimate guide to SE Asian real estate in 2016
\n
\nSource : property-report.com
\nRead more…Is Vietnam real estate suffering from a drop in overseas remittances?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The strengthening US dollar impacts inflows of much-needed kieu hoi Traffic in Saigon (Ho Chi...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-44047","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bsr","jetpack-related-posts":[{"id":39085,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/overseas-vietnamese-are-no-longer-just-sending-remittances-to-family\/","url_meta":{"origin":44047,"position":0},"title":"Overseas Vietnamese are no longer just sending remittances to family","date":"December 27, 2016","format":false,"excerpt":"\r So where is their dong being invested? Vietnamese dong. filmlandscape\/Shutterstock Overseas remittances no longer serve as mere stopgap money for relatives of Vietnamese nationals working abroad. Today, they are being siphoned more into businesses and real estate investments. Seventy-two percent of overseas remittances to Ho Chi Minh City so\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40830,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnamese-housing-market-to-find-its-groove-in-2017\/","url_meta":{"origin":44047,"position":1},"title":"Vietnamese housing market to find its groove in 2017","date":"January 16, 2017","format":false,"excerpt":"\r From FDI to tourism, economic fundamentals for the\u00a0ASEAN nation bring good tidings ahead Sketch cityscape of Ho Chi Minh City in Vietnam. arnont108\/Shutterstock For a year that fell short of GDP growth targets and was riven by a fairly turbulent climate, both environmental and political, 2016 was still auspicious\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8940,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developer-limitless-commences-work-on-delayed-vietnam-project\/","url_meta":{"origin":44047,"position":2},"title":"Dubai developer Limitless commences work on delayed Vietnam project","date":"March 23, 2016","format":false,"excerpt":"\r \r The Dubai developer Limitless has started work at a long delayed US$550 million housing and tourism project in Vietnam, as the country's property sector receives a filip from overseas remittances.Dubai government-owned Limitless reported on Wednesday that it started groundwork on its 120-hectare Halong Star project in Halong Bay,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8948,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-developer-limitless-commences-work-on-delayed-vietnam-project-2\/","url_meta":{"origin":44047,"position":3},"title":"Dubai developer Limitless commences work on delayed Vietnam project","date":"March 23, 2016","format":false,"excerpt":"\r \r The Dubai developer Limitless has started work at a long delayed US$550 million housing and tourism project in Vietnam, as the country's property sector receives a filip from overseas remittances.Dubai government-owned Limitless reported yesterday that it started groundwork on its 120-hectare Halong Star project in Halong Bay, north-east\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":132616,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnam-orders-report-on-foreign-home-ownership\/","url_meta":{"origin":44047,"position":4},"title":"Vietnam orders report on foreign home ownership","date":"March 14, 2019","format":false,"excerpt":"\r Vietnam\u2019s Ministry of Construction has asked provincial and city governments to compile a report detailing the extent of foreign home ownership in the country, Vietnam News reported. The ministry will use the information to evaluate the implementation of a policy allowing foreign organisations, individuals and Viet kieu (overseas Vietnamese)\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116293,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/falling-ofw-remittances-rising-unemployment-to-push-down-property-prices-in-philippines-by-15-per-cent\/","url_meta":{"origin":44047,"position":5},"title":"Falling OFW remittances, rising unemployment to push down property prices in Philippines by 15 per cent","date":"May 13, 2020","format":false,"excerpt":"\r Home prices in the Philippines are likely to decline by up to 15 per cent after more than two decades of uninterrupted growth as a slowing economy due to the Covid-19 outbreak weighs on demand, with affordable and mid-income housing seen as the most vulnerable segments.The twin blow of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/44047"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=44047"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/44047\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=44047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=44047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=44047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}