Demand For Real Estate in Vietnam Slowly Increasing in Q4/2021

According to the reputable real estate website batdongsan.com.vn, the statistics of people looking to buy real estate increased with the search rate in Hanoi reaching 100%, Ho Chi Minh City 90%, and Da Nang 70% compared to April – May of 2021. Notably, the supply and interest in affordable apartments in the two biggest cities of the country increased sharply again. Specifically, in the North, the housing market and Hanoi apartments are more active than before the lockdown. Hai Phong market develops stably, in which the most prominent are industrial real estate and high-class housing.

In the Central region, transactions in Binh Thuan were active in a number of emerging projects. In the South, transactions began to return in Ho Chi Minh City and the Southeast provinces, especially due to the new trend of opening and selling products through online means.

Data on the system of batdongsan.com.vn shows that the interest of real estate buyers in the market has recovered to the level of July 2021, up from 55-67% compared to September 2021. In October 2021, many localities effectively controlled the epidemic, and production and business activities were reopened, creating a strong recovery momentum for the market. Notably, the supply and interest in affordable apartments in Hanoi and Ho Chi Minh City increased by leaps and bounds.

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According to the CEO of Tao Tin Phat Real Estate and Infrastructure Development Co., Ltd., after the 4th COVID-19 pandemic, the interest in buying townhouses and land plots in the vicinity is increasing. The wave of leaving the city for the garden and the second home trend is booming, fueling the growth of suburban projects and attracting many people’s interest. The product line of townhouses and land plots priced from VND 1 to 2 billion in the suburbs is a sought-after product with quick transaction recovery. However, to avoid risks, buyers need to measure capital flow, with the ratio of 70% working capital and 30% loan capital; choose products with complete legality, infrastructure to meet the needs.

The recovery of the land and apartment segments

Batdongsan.com.vn statistics in October 2021, show that the number of posts (supply) and interest (demand) in real estate about land and apartments increased sharply compared to September, by 135% and 55% respectively. More than 70% of searches focus on these two types of real estate. Apartments and land near the periphery grew as soon as there was information about loosening the social distance, this development repeated the history of previous periods of separation when the epidemic was under control.

Real estate serving real living needs is always the segment that bounces back the earliest, topping the list of priorities, because it’s easy to buy and easy to sell.

Through fact-finding, the speed of urbanization, the high immigration rate in big cities today leads to a high demand for housing. In addition, land plots and apartments are the two segments that are least affected by the epidemic, but the supply currently has not met the demand, the affordable segment is still scarce.

According to a representative of the World Real Estate Services Group in Vietnam (Savills Vietnam), apartments and houses are two segments that experts believe will have a quick recovery after the pandemic. In Hanoi market when the demand is strong and the supply is large at the end of the fourth quarter of 2021, the beginning of the first quarter of 2022; Ho Chi Minh City market will recover more slowly. Forecast from the Construction industry, in the fourth quarter, Hanoi will have 11 new apartment projects, which will provide about 7,900 apartments, of which 87% of the supply is Grade B apartments (high-class apartments), with stable wages compared to living standards in big cities) in districts of Tu Liem, Gia Lam, Hoang Mai, areas with large land bank, are becoming the key residential area development target of Vietnam. Capital.

In addition, experts also said that these two segments recovered quickly because they were suitable for the pocket of most buyers, with an average price of 30-34 million VND/m2.

Real estate prices have not decreased, low bank interest rates have caused investors to pour money into the, the legal environment has gradually improved, real estate businesses have begun to adapt and are ready to sell online, plus The large number of successful transactions in October… is reflecting high market demand. This is a good time for customers to buy real estate.

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