Vietnam cemetery limits tomb sales to curb bubble

Wed Jul 29, 2009 4:19am EDT
 
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HANOI (Reuters Life!) - A cemetery near Vietnam's commercial hub, Ho Chi Minh City, has capped the number of tombs people can buy to curb a speculative price bubble, a property show on Vietnamese state television said.

The cemetery, which opened in 2007 in Binh Duong province, 60 km (37 miles) outside Ho Chi Minh City, was only allowing each buyer a maximum of 40 tombs, each covering about 13 sq meters (140 sq ft), it said.

Tomb prices have nearly tripled to around 39 million dong ($2,150) in the secondary market from an original price tag of 14 million dong, according to advertisements on a property Web site.

($1 = 17,815 dong)

(Reporting by Nguyen Nhat Lam; Editing by John Ruwitch)