According to PV's records, in the last days of January, in Hoa Binh ward - the most populous ward in Phu Tho province, the atmosphere of real estate trading was quite gloomy.
On many streets, signs advertising for sale and renting houses and land are hung all over the front, but actual transactions are very modest. Many owners accept price adjustments compared to peak periods but still find it difficult to find suitable customers.
This reality has lasted for many months. The excitement that appeared before the merger of the province is almost gone, replaced by a hesitant mentality of both the seller and the buyer.
Even in areas that are assessed as having beautiful locations and favorable business conditions, the number of successful transactions can be counted on the fingers of one hand.
On Cu Chinh Lan street - one of the central streets, Ms. Do Thi Ha - owner of a 3-story house on the street - said that her family once intended to sell the house after she was transferred to another job.
However, more than 4 months of advertising did not bring the desired results. The asking price from 7.8 billion VND had to be reduced to 7.5 billion VND, but there were still no customers finalizing to buy. Finally, Ms. Ha decided to switch to the whole-unit rental option.
Long-term leasing both increases monthly income and preserves assets. Selling cheaply is regrettable, and leaving it is wasteful," Ms. Ha shared.
Not only street-front houses, the shophouse segment in the central area is also in a similar situation. Ms. Tuyen - living in Hanoi - said that her family owns a shophouse opposite Hoa Binh Square, handed over from the beginning of 2022 in a rough condition.
The house has a 3-story design, 1 attic, floor area of 108m2, priced at nearly 7 billion VND and has been granted a red book. However, despite many times of advertising for sale and rent, the number of interested customers is still very small.
According to Ms. Tuyen, the square area is currently sparsely populated, and business activities are not vibrant, so the ground is difficult to exploit.
In addition, the change in administrative boundaries, in which the new administrative center of Phu Tho province after the merger is located in Viet Tri, also significantly reduces the attractiveness of Hoa Binh ward real estate.
From a market perspective, Mr. Tran Duc Huy - real estate specialist of Dat Viet Real Estate Company - said that land prices in the old Hoa Binh City (now Hoa Binh ward) have slightly decreased in some segments, especially street-front houses, but it is difficult for a widespread sharp decrease to occur.
The land plot and detached house segment in Hoa Binh ward is currently facing the most difficulties in terms of liquidity.
Short-term investors are almost withdrawing from the market. Buyers who have real housing needs should consider very carefully, from selling price, legality to financial capacity," Mr. Huy said.
In addition to the supply-demand factor, the fact that real estate credit continues to be tightly controlled, along with bank interest rates showing signs of increasing again in recent times, also makes the flow of money into the market narrower.
Many transactions that previously depended on financial leverage are no longer feasible, forcing sellers to accept "holding goods", waiting for a more favorable time.
In that context, many owners choose the option of renting to preserve asset value. According to Mr. Huy, this is also an opportunity for people who need to live or do business when they can access good locations with reasonable rents, while the market is still slow to wait for new impetus.
