In the last months of the year, the real estate market in the Southern region gradually had many positive and optimistic changes when the 2024 Land Law came into effect.
According to research, although the real estate market is not as vibrant as in Hanoi and Ho Chi Minh City, the housing demand in Can Tho City is still the main investment channel for investors and long-term settlement for customers.
After researching and surveying many apartments in the city, Mr. Duong Tan Dat (IT specialist, Can Tho City) decided to choose a large alley location, near a school to buy an apartment.
Previously, this employee wanted to own a house in a small alley because he thought the price would be lower than on a main road. However, due to traffic conditions, narrow walkways, and difficult-to-meet living facilities, he gradually switched to buying a house on a main road.
"The house I just bought has 1 ground floor and 1 upper floor, priced at 1.8 billion VND, enough for 4 people to live in. The road is 4m wide, easy for cars to enter and exit, and there is a lot of traffic so security is better. The house is also near my child's school, a department store, and if I have free time, I can do more business," said Mr. Dat.
The downside of houses in large alleys is that they are usually quite small in area and have to be built high up. However, according to Mr. Dat, because he wants to settle down for a long time, this will be a suitable choice, less likely to be affected by planning compared to less populated areas.
According to the reporter's research, the price of apartments and houses in Can Tho City 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.
Experts say that with the same amount of money, you can buy a house in a small alley with a larger area, suitable for customers who like quiet space. However, if we compare the price increase rate and planning risks, houses on big streets and alleys will be safer.
Mr. Tran Minh Hau - a real estate brokerage office owner in Ninh Kieu district, Can Tho city - said: For houses in large alleys, the price will increase by an average of about 4%/year due to traffic conditions and the location it brings. Customers who want to settle down long-term should choose houses with large entrances, preferably cars that can go in and out, and should not choose houses at the end of alleys because it can easily cause suffocation.
"Compared to investment, customers' real housing needs account for a fairly high proportion, about 70%. Most customers are looking for housing segments that cost less than 2 billion VND," said Mr. Hau.
Previously, the People's Committee of Can Tho City issued a document on strengthening the management and control of real estate price fluctuations in the city.
Chairman of Can Tho City People's Committee Tran Viet Truong requested relevant units to organize inspections, checks, take measures to rectify speculation, price inflation, price manipulation, strictly handle violations of the law on real estate business; monitor and control the buying and selling, handing over many times, especially in project areas, apartment buildings with unusual price increases...
According to the third quarter 2024 report of the Vietnam Association of Realtors (VARS), in the first 9 months of 2024, the market recorded 38,797 new products offered for sale. Supply still recorded strong differentiation, 70% of new supply came from the apartment segment.
VARS forecasts that if factors such as legal policy, finance and public investment continue to improve, the market will likely continue to heat up in the final period of the year.
