It is difficult for Vietnamese to buy houses because of the rapidly rising land prices

In the period of 2016-2018, it is difficult for Vietnamese people to buy real estate with accumulated money because land prices rise too fast. Deputy Head of International Business - Marketing Department, Ho Chi Minh City University of Economics, Huynh Phuoc Nghia, said that he conducted a quick survey of real estate price growth in the three-year land fever and recent decade. Accordingly, in 3 years of land fever spreading throughout the country from 2016 to 2018, people could not create accumulated cash flows to buy real estate because the speed of making money was too slow compared to land price increases. In the past three years, the land price has risen at the lowest rate of 1.5-2 times and the highest at 3-4 times, if taken as an average, doubled. During this period, if the Vietnamese save and only expect to increase their income to buy houses, the dream of owning real estate is unimaginable. Land price of dat nen dong nai has increased rapidly over time dat nen Long An This expert assessed that the majority of Vietnamese who own real estate in the period of 2016-2018 are in the form of cash flow from business, production, financial investment ... to real estate. In special cases, real estate speculators easily own and exchange properties in the land fever condition thanks to the accumulation of sudden cash flow. The survey also shows that over the past 10 years, the period 2009-2019, the value of each m2 of land increased in the range of 4-10 times depending on the area. This is also a special period to witness a strong change of the market when it takes full shades from cool to hot and slow down. 4 -10 rate increases in a decade are recommended as unsustainable and accumulating price bubbles. However, the paradox still occurs when the new price levels skyrocketed, constantly setting new peaks accepted by the market. See more dat nen binh chanh land price Mr. Nghia said that in fact, the housing price bubble has a special relationship to the deceleration of real estate in 2019. This is a test of market durability. If the real price bubble is too large and constantly inflates, it can leave many consequences. The first is the opportunity to own real estate of the people increasingly narrow, causing social tensions. Next, the real estate price bubble restrains the development of manufacturing industries. In addition, the real estate price bubble also pushed up the cost of space, affecting the prices of goods and services, causing uneven development of the economy. 2016-2018 is considered to be the strongest period of soil fever in a recent decade. Hotspots originating in Ho Chi Minh City and then spread to neighboring provinces. During this period, land fever also took place in areas planned for special economic zones. Currently, the price of dat nen phan rang land is quite high in 2019