Following the recovery of the real estate market, experts believe that real estate prices will rise again.
Following the recovery of the real estate market, experts believe that real estate prices will rise again.
Currently, the real estate market has seen several 'catalysts,' such as falling interest rates, project legal issues being resolved, and more favorable selling prices. Then, government, ministries, and local authorities have continuously implemented measures to eliminate difficulties in order to revive the market.
VPBank Securities JSC (VPBankS) has forecast that the residential real estate sector's headwinds will ease in the second half of 2023. The company believes the proactive measures taken by the government indicate a faster recovery than the previous cycle. At the same time, VPBankS expects the real estate market to recover from Q2/2024
In an environment of high but declining interest rates, pressure from the corporate bond market has eased and bank credit constraints are diminishing. Consequently, it is anticipated that the first half of 2023 marked the bottom of the market.
Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn in the Southern region, stated that the genuine demand for real estate is still there and favorable market support policies have created a relatively positive momentum. As a result, the most difficult period for the real estate market has passed, and the market is likely to recover by mid-2024.
Hence, this is an opportune time for those with available funds to 'hunt' for properties with excellent locations, good potential for price appreciation, and high discounts.