Hundreds of millions difference in price, homeowner still refuses to sell
Mr. Nguyen Van Luc (from Tam Diep, Ninh Binh) is looking to buy a 2-bedroom apartment around Thanh Xuan area. However, he was quite surprised when each project around this area only had 1-2 apartments for sale at high prices.
I made an appointment with a broker to take me to see the house this weekend, but when I got there, the broker informed me that the owner had temporarily stopped selling one house. Currently, there is only one duplex house with an area of 120 square meters, the owner is selling it for nearly 7 billion VND.
Instead of choosing an apartment, Ms. Thuy Huyen (Cau Giay, Hanoi) looked into a 42m2 house in Ha Dong district that had been built for many years. Initially, the owner offered a price of 3.6 billion VND, but when she and her husband came to see it, it was 3.8 billion VND. Due to their needs and the house they liked, they still decided to buy it and made an appointment to come and close the deal the next day. However, for some reason, many "land brokers" appeared, pushing the house price up to 4.2 billion VND.
“In one night, the apartment was pushed up to 600 million VND. The owner was afraid of losing money, so he followed the broker and offered the house for exactly 4.2 billion VND. The house was not located in the central area, there were not many amenities nearby, and the owner asked for too high a price, so my husband and I gave up the idea of buying that house,” Ms. Huyen said.
Like Ms. Huyen, Mr. Nguyen Thanh Nam (Ha Dong, Hanoi) said that last month he went to see a house, the owner quoted a selling price of 7.5 billion VND, when he had enough money, he contacted again to pay a deposit, the owner quoted a price of 8 billion VND.
"In just a short time, the house price has increased by 500 million VND. Even if someone wants to buy me, I won't. I'll wait until the next time to see how the market is," said Mr. Nam.
Why doesn't the owner sell if the price is high?
Admitting that the house price was paid hundreds of millions of dong higher than the time of sale (end of last year), many homeowners still hesitate to sell. They say they are not selling because they are waiting for a higher price, but if they sell now, they will not know where to buy another house.
Mr. Pham Van Hung in Hoang Mai district (Hanoi) also planned to convert from the house in the alley to a larger house. But now his conversion is impossible because when the price of his house increases by one, the price of other houses also increases by two.
Now the price of the house in his alley has increased by 400-500 million VND compared to the end of last year. But the house with a larger area in the alley wide enough for cars that he was looking to buy before has also increased by a billion VND. Therefore, he concluded that house prices are increasing everywhere and the more valuable the house, the higher the price.
Explaining the reason for the situation of homeowners "turning away" despite being offered high prices, Mr. Do Van Vu (a real estate broker) said that recently, old apartment projects, houses in alleys, and low-rise housing projects have increased in price, catching up with new land prices. Some new projects, far from the center, have also been offered high prices.
Prices do not increase in one area or location, but in all old apartment projects, houses in alleys, and low-rise houses. Therefore, even if the owner can sell the house and make a profit, he cannot buy real estate with a good location.
According to Mr. Vu, after posting the sale, the homeowner saw that many people came to see the house or that some people quickly decided to buy it, so they increased the price, causing the transaction to fail. On the other hand, it is possible that there is a brokerage team in that area that manipulates the price to push the price up, when they see the owner posting a low price, it affects them, making them think that their selling price is too cheap and decide to increase the price.
In addition, investment channels such as stocks or virtual currencies are experiencing fluctuations or production and business channels are facing many difficulties... Thus, apartment owners will keep their houses and not sell them, even though they see prices are increasing.
According to Ms. Hoa Dung - Sales and Communications Director of Hoian D'or project - Con Bap Eco-tourism Company Limited, people with real housing needs should consider the price offered by the homeowner, evaluate whether the house is true to its real value and the general market price. From there, consider spending money to buy a house that is suitable for your financial ability.
“If the house price increases too much in a short time, you need to consider carefully to avoid buying at a fake price,” Ms. Dung advised.
