Remittances to add impetus to property sector in 2018Overseas remittances will continue adding a vital impetus to the economy, including the property sector in 2018, according to Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association. Overseas remittances will continue adding a vital impetus to the property sector in 2018. Last year, remittances were estimated at 13.8 billion USD, up 20 percent from 2016’s figure of 11.5 billion USD. A thriving economy and an ease of the Land Law that allows foreigners to own houses in Vietnam are encouraging Vietnamese expats to send more money home. Remittances are no longer only a form of aid from Vietnamese expats to their families.

Source: VietNamNet News February 12, 2018 08:26 UTC