VietNamNet Bridge – Vietnamese tycoons have spent extravagant sums on their mansions, in a country with per capita income of just over $1,100 a year.

 VietNamNet Bridge – The authorities of Lam Dong province will auction and rent some state-owned villas in the city of Da Lat to raise funding for the construction of the central administration complex.

 Vice chairman of Hanoi Vu Hong Khanh asked the departments of construction, planning and architecture, and culture, sport and tourism to appraise villas built before 1954 for consideration for the list of preservation.

The Me Tri residential area in Tu Liem district, Hanoi, which is known as the zone for villas worth millions of US dollars, has had a different look – the urban area for food. Abandoned villas in this area have become restaurants.

VietNamNet Bridge – While the real estate market gets frozen, multi-million dollar villas still can be sold well. It’s now the right time for the “big guys” to buy luxurious villas, as they have become cheaper than ever.