Faced with the real estate fever, afraid that his salary would not keep up with real estate prices, Mr. Tran Quoc Khang (an office worker in Ninh Kieu district, Can Tho city) decided to take out a bank loan to buy a house at the end of the year.
According to the plan, Mr. Khang will borrow 1 billion VND from the bank along with 700 million VND in savings to buy a house near the center. This is also the big goal of the couple after nearly 10 years of renting a house.
"I looked into the loan interest rate, which is currently quite stable at 5.5 - 7%/year. After some consideration, my wife and I decided to take out a bank loan to buy a house because we were afraid that prices would continue to increase. Last year, we also didn't have enough money, so we hesitated because the price was high. Now the house has increased in value by 80 million VND," said Mr. Khang.
The last months of the year are also considered by investors to be a good time to invest in buying land and houses because there are often many landowners selling at a loss due to urgent need for money and paying bank interest.
Ms. Phuong Ha (CEO of a cosmetics company in Can Tho) has just "purchased" a "suffocating" plot of land for 1 billion VND in Vinh Long because the owner needed money urgently.
"Near the end of the year, real estate prices are usually more stable than at other times, especially when hunting for a plot of land that the owner needs to sell quickly to make money, investors or home buyers will get a cheaper price," said Ms. Ha.
According to the reporter's research, in Can Tho City, the price of apartments and houses is currently at 35-60 million VND/m2; the price of land in Cai Rang, Hung Phu, Nam Long areas is at 30-65 million VND/m2.
Mr. Tran Minh Hau - owner of a real estate brokerage office in Ninh Kieu district, Can Tho city - said: In the past 2 months, customers with demand for housing and apartment brokerage account for 70% of investment demand. Most customers are looking for housing in the low-priced segment from 1-2 billion VND.
"In the past few days, I have received many calls from customers asking for brokerage and buying and selling land. At the end of the year, there are often many landowners selling at a loss because they need money urgently to turn around cash flow for the new year's plan," said Mr. Hau.
In order to ensure the increasingly healthy management and development of social housing in Can Tho City, the City People's Committee previously issued Official Dispatch No. 3729/UBND-XDDT on the assignment of tasks in the management and development of social housing in the city.
Accordingly, Chairman of Can Tho City People's Committee Tran Viet Truong assigned relevant units to organize loan evaluation and timely disbursement for eligible subjects who need to borrow capital according to regulations; carry out procedures to publicize project information and selling prices; take measures to prevent policy profiteering so that people have full access to information and can buy social housing at the right price.
