This study analyses the relationship between the real estate market and economic growth in Vietnam, a country with a fledgling real estate market. Research data included economic growth rate and growth rate of the real estate market in Vietnam. The research used quarterly data for the period from 2005: Q1 to 2018: Q1. With the characteristics of Vietnam, there has been no real estate index up to now; therefore, the research used data on growth rates of the real estate market. In addition, the real estate market in Vietnam is still young, so the data series is very short, which is a limitation of this research. With qualitative and quantitative methods especially with the Vector Auto Regressive (VAR) model; the results of the study indicate new findings, unlike previous studies, including: (1) The real estate market positively impacts Vietnam's economic growth, most noticeably in the second quarter lag and the fourth quarter lag, and then its trend impacts inversely; (2) The real estate market and economic growth in Vietnam have fluctuated over time with many risks that are affected by the past shocks of these factors. From these 􀂿ndings, we proposed some managerial implications for managing the real estate market with economic growth in Vietnam sustainably.

Abstract
 1. Introduction
 2. Literature Review
  2.1. The Impact of Real Estate Market on Economic Growth
  2.2. The Impact of Economic Growth on the Real Estate Market
 3. Research
 Methods and Materials 
  3.1. Data Collection
  3.2. Research Methodology
 4. Results and Discussion
  4.1. Unit Root Test
  4.2. Granger Test
 5. Policy Implications
 6. Conclusions and Limitations
 References

• Thang Quyet Nguyen(Faculty of Tourism & Hospitality Management, Ho Chi Minh City University of Technology (HUTECH)) Corresponding Author
• Toan Ngoc Bui(Faculty of Finance and Banking, Industrial University of Ho Chi Minh City (IUH))
• My-Linh Thi Nguyen(Faculty of Finance and Banking, University of Finance – Marketing (UFM))