Can Interest Rate Cut Save Vietnam's Property Market?

Vietnam remains paradoxically both the land of promise and equally disappointing for foreign investors.
Over the past few years high interest rates and double-digit hyperinflation have dogged the real estate sector.
Recently Vietnam's State Bank cut deposit interest rates which ran as high as 13% down to a single digit 9%.
The benefit is expected to be two-fold. First for businesses, lower interest rates may stimulate investment. Second for investors holding cash in bank deposits the lower rates may create more interest in shift portfolios to property.
So far the market reaction has been lukewarm given that lending rates still command a considerable premium.
Volatility remains the sworn enemy of businesses and certainly this remains a key to the current regime of negative investment sentiment.