Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that with the positive developments of the macro economy, all investment channels have recorded positive signs compared to 2023. In which, the highest yield is still in the real estate channel. Based on 3 main indicators of interest rates, credit and real estate policy, the market is expected to recover in the third quarter of 2024. And in this recovery, investors continue to look for new investment lands.
In fact, the real estate market has been recording positive changes in recent times. According to Mr. Nguyen Quoc Anh, the Vietnamese real estate market has just gone through a period of fluctuations and is showing signs of recovery. Up to now, the market has reversed, showing growth in many segments.
The apartment segment continues to lead the market with impressive price increases. In fact, projects launched in Hanoi and Ho Chi Minh City recently have established new price levels.
In Hanoi, the average price of an apartment in the Lumi Hanoi project is 79 million VND/m2, Lumiere Evergreen is 90 million VND/m2, Imperia Solar Park is 65 million VND/m2, and QMS Tower is 80 million VND/m2.
In Ho Chi Minh City, the average price of Eaton Park apartments is 130 million VND/m2, Fiato Uptown is 50 million VND/m2, Khai Hoan Prime is 52 million VND/m2, The Opus One (Vinhomes Grand Park) is 82 million VND/m2. Despite the high prices, the absorption rate of the projects is very good.
The land segment is also growing impressively. According to Mr. Quoc Anh, up to now compared to the first quarter of 2023, Hoai Duc land has increased by 81%, from the average market price of 55 million VND/m2 to 100 million VND/m2; Dong Anh land has increased by 53%, from the average price of 41 million VND/m2 to 63 million VND/m2. Thanh Oai land has increased by 90%, from the average price of 21 million VND/m2 to 40 million VND/m2.
The report of the Vietnam Real Estate Brokers Association also provided notable information. In terms of supply, in the third quarter of 2024, the market had 22,412 products offered for sale on the market, 60% higher than the same period in 2023. In terms of transactions, the market recorded 10,400 successful transactions, 80% higher than the same period last year.
In the first 9 months of 2024, the market recorded 30,589 successful transactions, 2.5 times higher than the same period in 2023. These impressive figures on supply and transactions show that the heating up of the Vietnamese real estate market is becoming increasingly clear.
Mr. Nguyen Quoc Anh believes that the Vietnamese real estate market is in the recovery phase and by the fourth quarter of 2024, this recovery will become increasingly evident. To promote the development and recovery of the market more strongly, it is necessary to focus on handling 3 main issues.
Accordingly, it is necessary to remove difficulties and unclog capital sources. In addition, it is necessary to stabilize lending interest rates because although current interest rates are lower than the previous period, most real estate loans are only preferential in the first 2 years. In the long term, there should be policies to maintain interest rates at a reasonable level, supporting home buyers to access loans more easily.
"The market needs to continue to improve policies and laws to promote transparency and strengthen investor confidence," said Mr. Quoc Anh.
