Mr. Nguyen Van Xuan (selling homestay in Ba Vi district, Hanoi) said that he invested in the homestay, which is over 400 square meters, 3 years ago. Because he urgently needs investment capital, he is selling it on social networks.
According to Mr. Xuan, although he has been selling his homestay for 13 billion VND since the beginning of 2024, he has not yet found a buyer. Mr. Xuan is also looking for ways to connect, asking real estate trading floors to post the sale.
Similarly, Ms. Nguyen Thanh Mai (47 years old, selling homestay in Thach That district) said that a few years ago, many people with idle money like her spent billions of dong here to buy land and build resorts and homestays.
According to Ms. Mai, her homestay is being advertised for sale at 17.7 billion VND, has 10 rooms for sale, 2 swimming pools, full amenities, and is ready to reduce the price by 700 million VND for customers who close the deal in January 2025.
Talking to Lao Dong reporter, Mr. Tran Hoang - a real estate broker in Hanoi - informed that many owners are selling a series of resorts and homestays at the end of the year but it is difficult to find buyers due to the large value of the assets.
Mr. Tran Hoang analyzed that homestays and resorts priced from 10-20 billion VND are being continuously advertised on forums and social networks.
Most of the sellers stated that they needed to sell quickly and were willing to reduce the price due to borrowing from the bank to build and operate the homestay. However, the reality is that after a period of unprofitable operation, many investors are under great financial pressure.
Referring to this content, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that the previous massive investment has caused fierce competition in the land, resort villa, villa, and homestay segments in the suburbs.
Many homeowners, resorts, and homestays are now having to sell, some have had to lower prices in hopes of selling off their properties quickly, but because the prices are still high, they do not meet the real needs of the majority of people.
According to experts, the market at this stage is moving towards segments that meet real needs. Highly speculative segments such as land, villas, homestays, etc. are entering a strong purification process.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - said that real estate associated with tourism and resorts is a segment with demand, but widespread investment without calculation has forced investors to "flee" from the market near Tet.
According to analysts, resort investment requires high professionalism, knowledge of cash flow management, investment performance, operations, and customer service. In fact, many investors have the mentality of just buying a piece of land and building a house for rent, ignoring the need to thoroughly research the market.
