Invest in Vietnam Real Estate?

[kevinhiggins]

Did anyone read this week's Economist piece on Vietnam being Asia's other miracle? http://www.economist.com/opinion/dis...ry_id=11089442

Here's some highlights:

• It is now one of Asia's fastest-developing countries, with annual growth averaging 7.5% over the past decade.
  
• Vietnam's cities are bright and bustling and the countryside, where most of its 85m people still live, seems hardly less developed than that of officially much richer Thailand.
  
• Vietnam's social and economic progress has made it the poster-child of multilateral institutions such as the World Bank.

Has any one invested in real estate in Vietnam? If yes what city and what did you buy? Would I be better buying through a REIT or Property Fund?

I know the 50 lease hold restriction has been changed to a 70 year renewable leasehold.

Your feedback would be very helpful

-
Kev