As in other rapidly growing economies, Vietnam’s urban land development has been a source of social conflict as those who are relocated contest the distribution of economic gains. More recently, the relocated have increased their bargaining power and receive better compensation packages. The paper analyses this situation to discuss further developing our understanding of how property rights institutions change. The case study shows the efficacy of social narratives to renegotiate the terms of the social contract supporting property rights even in a society with limited means for public participation in governmental reform. Secondly, it illuminates that modern property rights are entwined with public finance and so property rights reforms are tied to the organisational structure of government and fiscal relations.
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