Deputy Director of CIEM: Real estate market has 8 out of 10 bubbles

Tran Kim Chung, deputy director of the Central Institute for Economic Management (CIEM), said that the real estate market in Vietnam now has 8 out of 10 signs of a bubble.

The signs of Mr. Chung include: increased transactions, rising prices, the number of start-up works, expanded areas, increased market participants, the size of a project increased, the investment value of a project increases, the influx of money into the real estate market increases.

In addition, the media on real estate has also become stronger. “Now open up the network, one third of the information on real estate,” Chung said.

Mr.Tran Kim Chung :Deputy Director of CIEM

According to Chung, there are only two signs that the real estate market will “touch” on the crisis, including public investment and increased state capital. “These two sources are being pulled back from the real estate market. So we still have peace of mind. As long as you hear the two sources increase, then prepare to withdraw as medium, as long as not heard, should not be drawn, “Chung said.

Mr. Chung also recalled the 10 year cycle (recovery – growth – recession – crisis) of the real estate market in Vietnam. “Actually from 2011 to 2013 we are at the bottom of the crisis. In 2014 we recovered. In 2015-2016 -2017 begins to increase. By 2018, the market will not increase but this is a very sensitive time to continue in or out, only you are the most proficient for the money in your hands, “Chung warned.

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