Since the middle of last year, Nguyen Hoai Thuong (28 years old) and her husband have been looking to buy an apartment in Hoang Mai district (Hanoi), but the family has hesitated to put down the money right away.
“With the current volatile market, prices may drop again, helping buyers save a little more money,” Ms. Thuong shared.
Unlike Ms. Thuong, Mr. Vo Hoai Nam (from Hung Yen, currently an office worker in Hanoi) after 2 months of looking for a house, has closed on a satisfactory apartment in the urban area in Tay Mo (Nam Tu Liem district) for 3.8 billion VND.
Although knowing that the apartment is at its peak price, but afraid that the price will continue to increase, Mr. Nam and his wife still decided to borrow an additional 1.4 billion VND from the bank to buy the apartment above.
The gradual replacement of mid-range projects by high-end and luxury projects has caused the average price of apartments to increase the most from 2021 to present.
Despite high anchor prices, data from the OneHousing Center for Market Research and Customer Insights shows that in July, primary and secondary apartment transactions still increased in the East and West of Hanoi.
In particular, at Vinhomes Smart City, the transaction volume has reached 90%. This shows that the primary supply in the West still has good absorption capacity although the newly launched projects are all in the high-end - luxury segment.
In the secondary market, Hanoi recorded about 3,200 transactions in July, up 35% over the previous month.
In particular, the West and East areas had the number of transfer transactions increase by 22% and 39% respectively compared to June.
Sharing with Lao Dong reporter, Mr. Tran Minh Tien - Director of OneHousing Center for Market Research and Customer Understanding - commented that the demand for real housing remains high in Hanoi, in the context of scarce supply, which is also the reason for positive apartment liquidity.
According to Mr. Tien, the Hanoi apartment market is mainly concentrated in the East and West regions, with very little supply from other regions recently.
In addition, as new apartment prices continue to rise, many customers are choosing to resell apartments at more reasonable prices.
In addition, with a lower price than newly opened apartments, these secondary apartments also have the advantage of being legally complete and ready to move in.
However, with the continuous increase in housing prices in recent times, the opportunity to own a house for low- and middle-income people in urban areas will become increasingly difficult and negatively impact the State's social security policy.
Therefore, the urgent issue now is to quickly find solutions to stabilize housing prices, in which the Government and State management agencies play an important role.
Chairman of the Vietnam Association of Construction Contractors Nguyen Quoc Hiep said that in order to stabilize housing prices soon, the State needs to have policies to increase the supply of housing products from renovating old apartments and speeding up the implementation of social housing projects.
