According to Dr. Nguyen Van Dinh, real estate products worth more than VND5 billion, with stable prices for a ...
According to Dr. Nguyen Van Dinh, real estate products worth more than VND5 billion, with stable prices for a while after a period of sharp loss reduction at the beginning of this year, have been accepted by investors to cut money, starting a new growth cycle.
Compared to the beginning of 2023, the current real estate market has seen many positive changes. In addition, buyers' confidence in the assessed market has gradually recovered.
Construction Minister Nguyen Thanh Nghi said that in recent years, in the face of the difficulties of real estate enterprises, the government and the prime minister have received many important instructions and working groups from the prime minister, ministries, branches and localities. In particular, the Ministry of Construction and the State Bank of Vietnam have actively grasped the situation, specifically assessing the difficulties related to the real estate sector
According to Savills Vietnam, from the fourth quarter of 2023, the market will see more positive changes, the recovery momentum is clearly reflected in the cooling of interest rates, and banks are starting to support businesses and homebuyers more effectively, policies to eliminate government difficulties are gradually effective.
Le Hoang Chau, President of the Ho Chi Minh City Real Estate Association (HoREA), opined that the property market has gone through the most difficult period and can be identified as Q1/2023 as the lowest in the real estate market.
However, overall, the current real estate market is still very challenging, but the difficulty level tends to decrease over time, next month is better than the previous month, next quarter is better than the previous quarter.
Chau said the real estate market has prospects for recovery, with further growth from the second half of 2024 thanks to the momentum.
Dr. Nguyen Van Dinh, President of the Vietnam Association of Realtors (VARS), said the market has seen positive recovery signals, with more and more segments and areas showing signs of "bottom-out".
The information provided by VARS member brokers also shows that more and more investors have started to "chase" land, in areas on the outskirts of major cities, localities that thrive on infrastructure and have high rates of urbanization with prices considered quite "cheap", There is a lot of room for growth in the future.
Mr. Nguyen Manh Ha, Permanent Vice President of the Vietnam Realty Association, said: "By 2022, the property market is declining, the government has many policies and support from banks, I see that the recovery time can be shortened compared with previous years, but it will not be possible to recover until 2024.
"Real estate companies need to seriously consider selling assets, accepting break-even or losses to have money to pay off their debts."
Via CafeF