(TN&MT) - The Lunar New Year holiday 2024 has ended, and some real estate investors in the Southern region in ...
(TN&MT) - The Lunar New Year holiday 2024 has ended, and some real estate investors in the Southern region in general, and Ho Chi Minh City in particular, have started to return to the market. The search volume for real estate has been on the rise since the 2nd day of Tet and continues to increase significantly.
Increasing search volume
According to Batdongsan.com.vn, compared to the beginning of 2023, the real estate market in early 2024 has shown more positive signs in terms of interest and listing volume. Specifically, the demand for nationwide real estate searches in January 2024 increased by 66% compared to the same period in 2023, and the number of real estate listings also increased by 52%. Among the segments of interest in Ho Chi Minh City, land lots and project land saw a stronger increase in interest than apartments. Specifically, in January 2024, the search volume for land lots in Ho Chi Minh City increased by 71-73%, while it only increased by 59% for apartments.
Real estate investment and business enterprises in some neighboring provinces of Ho Chi Minh City such as Dong Nai, Binh Duong, Long An, etc., have shared that in early 2024, the number of land lot transactions increased, focusing on lots with standard legal status, priced below 2 billion VND, within a radius of 60km around Ho Chi Minh City.
Reports and Consumer Sentiment Index (CSS) on real estate from Batdongsan.com.vn in early 2024 also indicated that up to 65% of respondents said they still planned to invest in real estate in the next year. Among them, the proportion of those buying for investment accounted for 60%, and land lots remained the most preferred type of property for future buyers. The psychology of real estate buyers and sellers is no longer as cautious as in 2023.
According to market research companies' observations, immediately after the Tet holiday, real estate investors began to seek investment opportunities. It is noteworthy that investors still focus on the apartment and land lot segments, especially in the secondary market with existing products and established communities. In the context of the market gradually warming up at the beginning of the year, real estate trading floors and developers have initiated early business campaigns to not miss the opportunity to reach a large number of potential customers.
Ms. Phuong (a broker at a real estate trading floor in Ho Chi Minh City) said: "On the 6th day of the Lunar New Year, I received a message looking to buy land in Binh Chanh district (Ho Chi Minh City). As they are regular customers, I actively introduced 2 beautiful land lots, thinking that I would only introduce them at the beginning of the year, it would be difficult to close the deal. However, to my surprise, on the 10th day of the Lunar New Year, the customer scheduled a land viewing and then made a deposit. Last year, there were hardly any inquiries about buying houses or land. This year, I have already started business at the beginning of the year, hoping that the market will be better."
Investors return
Regarding the real estate market in 2024, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association believes that for investment in real estate, there is demand, but it is not high. Economic difficulties, coupled with disappointing business results from investment products in the past, have made many real estate investors worried. Specifically, products such as shophouses, which were purchased by many real estate investors for the purpose of renting out to generate cash flow, have, until now, been unable to be put into operation, still "idle" waiting for price increases, thus not only failing to bring investment efficiency but also burying many real estate investors' capital.
Immediately after the 2024 Lunar New Year, many real estate investors have begun to return to the market.
"In the coming time, the demand from real estate investors will focus on products that meet real needs. The characteristic of this product line is affordability, meeting the housing needs of the majority of the population. Products that meet real needs will have good liquidity, as they quickly sell out when put on the market, with very good liquidity. Therefore, real estate investors and businesses will focus on these products to have the opportunity to have liquidity, bring investment efficiency, and business success," Mr. Dinh analyzed.
Regarding the phenomenon of many investors focusing on the land lot segment after the Lunar New Year, many economic experts believe that in 2024, the land lot segment, which experienced the most price reductions, will begin to increase again, attracting more investors due to its appropriate value, guaranteed legality, and being the optimal choice at this time. Therefore, the land lot market will have many positive factors, showing clearer signs of recovery.
However, real estate investors need to pay attention to planning issues when investing. Accordingly, investors should only buy real estate in areas with stable planning or be at the forefront of planning if they truly grasp the information. When choosing the location for real estate investment products, they should be associated with residential areas or resort areas. If real estate is not associated with these factors, it is just speculative investment, posing risks to investors when seeking liquidity.
Via Tai nguyen & Moi truong