Apartment prices cool down, buyers still find it difficult to find affordable apartments
After a period of strong price increases, the Hanoi apartment market is recording signs of stagnation. Some homeowners who need to sell have started to adjust prices, especially for apartments that were pushed to high levels in the past.
Surveys on the secondary market show that many used apartments are offered for sale lower than the peak price period. Some brokers said that the reduction may be up to 20-30% in cases where homeowners are under financial pressure, need to recover cash flow, or when the loan is due.
However, the current apartment price level is still high, especially in areas with complete infrastructure, near the center, and convenient for travel.
In the role of a home buyer, a reporter from Lao Dong Newspaper contacted some real estate brokers to survey the actual market.
Mr. Nguyen Manh Dung (29 years old) - real estate broker in Hanoi - said that recently, sellers have had a psychology of adjusting prices more than before.
Some houses have decreased by about 20-30% compared to the peak price period. However, after the reduction, the price is still quite high. Houses with beautiful locations and convenient living conditions still maintain good prices," Mr. Dung shared.
According to Mr. Dung, currently buyers have more opportunities to negotiate, but finding apartments that meet both factors such as location, area, and reasonable selling price is still a difficult problem.
17-year-old apartment still over 10 billion VND due to location
Accompanying Ms. T.L.H - a person who is in need of buying a house, reporters came to see the apartment at CT2 Vimeco building (Hanoi). The apartment has an area of about 130m2, and has been used by the family for about 17 years. According to information from the homeowner, the apartment is being offered for sale at a price of about 80 million VND/m2, equivalent to about 10.4 billion VND.
Although located in a convenient area, the apartment has deteriorated over time. If bought, buyers are expected to spend an additional 1.2 billion VND to repair and renovate the interior space.
With an apartment that has been used for nearly two decades but still costs more than 10 billion VND, Ms. T.L.H said that initially she was quite cautious.
I have lived in the house for 17 years, but the price of 80 million VND/m2 is still quite high. However, the apartment location is near my mother's house, convenient for traveling and living, so I decided to buy it," Ms. H said.
According to Ms. H, during the exchange, the broker also advised her to continue negotiating to have a better price. However, knowing that someone else was also interested in the apartment, she worried that if she waited, she might lose the opportunity.
The house is suitable for my needs and in the right location I want, so I decided to close it early," Ms. H shared.
It can be seen that in the market adjustment period, the location factor continues to play an important role in maintaining apartment prices. Projects near the center, conveniently connected to traffic or meeting real housing needs are still attractive to buyers.
Conversely, apartments with remote locations, low liquidity or homeowners under financial pressure will tend to have to adjust prices more to find buyers.
