Recently, the real estate market in the South has recorded positive changes. Land and apartment products have shown signs of recovery. The recovery rate is still slow, and investors are cautious in investing.
According to records, the housing and land segments are two investment channels that receive great attention from investors and customers. For housing, apartments, although dominating in terms of interest, many investors still fall into the situation of price reduction but still have difficulty in making transactions.
At the end of the year, under pressure from bank loans, investor Duong Tan Sang (Can Tho City) decided to reduce 15 - 30% for 1 plot of land and 1 apartment in Vi Thanh City and Can Tho.
It is known that he borrowed 700 million VND from the bank along with his own capital to buy these 2 plots of land. 3 months ago, due to economic difficulties, Mr. Sang sold 1 plot of land, accepting a loss of 100 million VND to manage. Now he continues to sell the remaining apartment because of the bank's burden.
"When the bank loan matured, I had to worry about my family's plans for next year, so I sold it, although I couldn't bear to because I was sure that next year this apartment would have a good price. The house was a residential house with all the necessary papers, but I needed money urgently, so I reduced the price from 200 million to 500 million and still had no buyers," said Mr. Sang.
Since August, Mr. Nguyen Van Trong - a real estate broker (Can Tho City) - has received about 15 real estate products from owners, discounted by 100 - 400 million VND. The reason is that customers need to recover capital and are under pressure from loans.
For example, a house in an alley on Hoang Quoc Viet Street (Can Tho City) was previously offered for sale on social media at a price of 4.3 billion VND, with an area of 60 square meters, but is now down to 4 billion VND. Another house in Vi Thanh City (Hau Giang Province) is now down to 1.5 billion VND, while it was previously offered for sale at 1.9 billion VND.
"Every year, near Tet, customers tend to lower prices to sell their products and recover capital for long-term ownership products. Although people's housing demand is quite high, house prices have increased so much that customers only stop at the level of going to see them and do not dare to pay," said Mr. Trong.
According to a survey on real estate websites, 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 is at 30 - 65 million VND/m2. In Vinh Long, Hau Giang, the price of land ranges from 15 - 20 million VND/m2.
According to the third quarter 2024 report of the Vietnam Association of Realtors (VARS), the real estate market has had a positive recovery after a difficult period, thanks to the stability of the economy and the Government's support policies.
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.
The real estate market in 2025 is expected to develop steadily thanks to the legal corridor. The segments of private houses, townhouses, land plots, and villas will increase. VARS believes that although the market will gradually recover in 2025, it will not be able to bounce back immediately but will need a few more years.
