Vientiane Times newspaper and Rentsbuy.com reported last week that Vientiane experienced a 10-15% price increase from last year alone. It’s understandably so. Vientiane is one of the primary hotbeds of economic activity in the country. It’s often seen as the city to be in for work, school, business and so on. Having said that, the city brings in a lot of people.
The real estate boom has been going on for at least 10 years but definitely more intensely in recent memory. And it can be observed for several reasons, including:
- Burgeoning Lao middle class with more money to spend.
- Lao ex-pats sending money back to relatives in Laos to buy land or property.
- Foreigners working and living in Laos renting or buying large expensive homes.
- Real estate development by foreign and Lao companies to sell/rent/lease finished properties.
- Real estate prospecting – buying property or land only to hold it in the hopes of price increases.