Just a few weeks after the information about the proposed merger of provinces and cities, according to the Vietnam Real Estate Brokers Association, land prices in some localities have been pushed up, some places up to 20%.
According to Mr. Nguyen Van Thai - representative of a real estate trading floor in Hung Yen, the market is experiencing cases of subjective valuation from sellers, creating a large gap between the asking price and the real value. "Many areas do not have new outstanding infrastructure but prices have been pushed up rapidly, making it difficult for buyers to properly assess the value of assets," Mr. Thai commented.
In Viet Tri city (Phu Tho), according to a survey with brokers, land prices also fluctuated when there was information about merging provinces and cities. Specifically, the land price in Tho Son ward has increased from 15-17 million VND/m2 to 22-24 million VND/m2. Van Phu land also increased from 18-20 million VND/m2 to 19.5-22 million VND/m2.
There are even cases where, for the same plot of land, the selling price offered by the parties is not uniform. The fact that real estate prices are "dancing", in different places is becoming a difficult problem for the real estate market.
Mr. Bach Duong - General Director of Batdongsan.com.vn - commented: When considering investment opportunities in the context of merging provinces and cities, buyers need to take a comprehensive approach, taking into account factors such as economic development potential, infrastructure connection, and cultural characteristics. Real estate value only truly increases when supported by clear economic momentum and a stable and transparent investment environment.
Investors should avoid the psychology of "surfing" in the expectation of a short-term price increase. In any period of fluctuations, prices, legality and information about traders are still key factors that create market confidence. When that trust is built on a platform of authenticated and public data, the virtual fever will be somewhat controlled.
From that perspective, the technology platform Batdongsan.com.vn has implemented many solutions to strengthen market confidence through technology and data transparency. Most recently, the platform upgraded the Batdongsan mobile application: Buying & Renting.
On top of that, the "Priced History" feature is synthesized from millions of posts per month. Buyers, sellers, renters or leaseers can proactively look up the history of specific real estate price fluctuations for each segment, area, and project in the last 5 years.
These know-how numbers will help users see the whole market as well as easily compare, select and make decisions.
In addition, Batdongsan.com.vn also focuses on transparency of information of transaction participants.
With the "Professional Broker" feature, buyers and investors can recognize reputable brokers. Similar to the "green checkmark" on social networking platforms, this title is only granted to brokers whose identities have been authenticated and have a practice certificate.
According to Batdongsan.com.vn, the business efficiency of professional brokers on this platform is up to 30% higher than that of regular brokers whose titles have not been authenticated. This is an important title, helping buyers feel secure in putting their trust in the right person.
Not only applicable to brokers, Batdongsan.com.vn also has a "green link" feature for all posts. With news stamped as "Authentic News", users can rest assured that this is a real estate that has been provided with a red book/pink book by the seller, accurate address information, images, and real-life characteristics that match the red book. Most importantly, the selling price has been confirmed by Batdongsan.com.vn to be within the average market price range.
In addition, location is a factor that guarantees the value of real estate and is also a leading factor, deciding the buyer's down payment. To visibly track the location of the house or plot of land that they are interested in, users of Batdongsan.com.vn can use the Real Estate Map feature.
Instead of appearing in the usual list form, the listings will be displayed directly on the map. Thanks to that, buyers can observe the overall location and convenient map of real estate, compare prices and choose posts in the area they are looking for, without having to switch to other map applications.
To experience modern real estate technology and access many objective and authentic information, users can download the Batdongsan application for free: Purchase & Rental HERE.
