Phú Quốc.
Unspoken.

Unsuccessful 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, and re-sell those at higher prices for an indefinite amount of times.

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In 2008, speculators were hit by the financial crisis and the hospitality sector wasn't profitable enough, although property and land prices continued remaining 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 can still be found.