Phú Quốc.
Unspoken.

Land speculation is a widespread issue in Vietnam.

 

Phú Quốc, an island in Southern Vietnam, was thought to be the new tourism hot spot in 2006, attracting companies and investors to purchase land and property to improve the touristic offer of the island.

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In 2008, speculators were hit by the financial crisis and the hospitality sector of Phú Quốc wasn't profitable enough, although property and land prices continued to remain too high to meet the demand, forcing companies and investors to abandon their projects and leave buildings inhabited.

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Phú Quốc is now mostly populated by ghost towns in its southern and northern area, although some local villages still exist.