According to Lao Dong Newspaper, in mid-March, real estate prices in the center of Hoa Binh City remained unchanged, but the market was no longer as vibrant as before. Transactions are slowing, although there are no signs of price reduction.
Mr. Nguyen Manh Linh - a long-time real estate broker in Hoa Binh city, said that land prices in the central area are still stable, although the market shows signs of slowing down.
According to Mr. Linh, cash flow in society is still circulating strongly, making it difficult for land prices to decrease. Even when the market is quiet, real estate owners here do not have a need to sell cheaply. On the other hand, the general economic situation, especially after the period of fluctuations, also makes customers consider more carefully before making transactions.
"Currently, land prices in Sao Vang area, near Hoa Binh city square range from 45-55 million VND/m2, large roads with enough vehicles to avoid each other cost about 25-35 million VND/m2, while smaller roads cost about 15-20 million VND/m2," Mr. Linh shared.
Similarly, Mr. Tran Xuan Tien - a real estate broker in Hoa Binh said that real estate in the center of Hoa Binh city still retains its value, but the market is in a "resting" phase after a period of excitement. This is an opportunity for the market to develop more sustainably, instead of just chasing temporary fevers.
According to Mr. Tien, on Hoang Van Thu Street, the price ranges from 58-63 million VND/m2, while in Van Hong urban area, the price is about 32-35 million VND/m2 but the transaction volume is very limited.
In particular, the A-shaped gate area on the main axis of Tran Hung Dao Street - a prime location, land prices remain at 60-62 million VND/m2, reflecting the attraction of this area even though the market is stagnant.
"The reason for the market's stagnation is not due to loss of value but mainly due to investors' cautious psychology. After a period of hot growth, it is inevitable that the market will enter a balancing period. This also helps screen investors who are really interested instead of speculative transactions.
For investors with a long-term vision, this may be the right time to carefully research and choose quality products. Meanwhile, buyers with real housing needs still have many opportunities to find real estate that suits their financial capacity, said Mr. Tien.
Talking to reporters, Mr. Nguyen Quang Thu - Director of the Land Registration Office of Hoa Binh City said that recently, the number of newly received sales documents is very small, most of which are just procedures for land division by the people.
According to Mr. Thu, real estate transfer activities in the area are on the decline. The number of successful transactions is not much, reflecting the stagnation of the market even though prices remain stable.
