It is very dificult to figure out the bottom of the real estate market
Tran Viet Dung, the Director of the HCM City Branch of Togi Real Estate Corporation, thinks that the real estate market will have to decrease even further to reach the bottom.
Dung, who is an expert in real estate assessment, said that with the current sale prices, real estate investors can still earn a high profit. Dung affirmed that real estate prices have far exceeded the price levels at the time when investors began selling their products.
Therefore, he believes that though real estate prices have decreased by 40-60%, it would need to drop by a half of the current price to reach the bottom.
Le Van Nam, an investor in the Tan Binh district of Ho Chi Minh City, thinks that the real estate bottom is the price level before the price fever at the end of 2007 and early 2008. However, Tran Viet Dung, another investor, did not agree with this opinion, saying that similar fever attacks were also seen in previous years, such as 2005-2007.
