There are quite obvious changes in the demand of real home buyers. Mr. Tin Nguyen, Head of Market Research, Colliers Vietnam shared about this.
In the current quiet market period, is there a correction in the market trend and is it associated with real demand?
In my opinion, the three most important factors for homebuyers by far are location, price, and legality. However, for people with real housing needs, these factors also have different points.
For people who have real housing needs, the project location is especially important because they need to calculate the distance and travel time from their place of residence to work, market, school, hospital, main roads, etc. central area, bus station, metro station ... A person will have to consider carefully in advance a house 30-40km away from work, the roads going back and forth every day are often congested. However, the location factor can be partially solved if the transport infrastructure is well developed and synchronous.
What about the price, sir?
In terms of price, ideally housing prices are in line with the affordability of the buyer. But the fact that house prices tend to increase gradually over time and speculation or supply gap between segments also contributes to accelerating price growth. Therefore, to have a peaceful place to live, many buyers need loans from banks, family, friends...
In the context of high interest rates and tight credit room, it is difficult for homebuyers to access bank loans on the one hand, and on the other hand, need to be careful not to rely too much on financial leverage. In the past few months, the selling price in some projects has shown signs of cooling down with many preferential and discount policies being launched. This is the right time for homebuyers with good personal financial potential to have the opportunity to own a satisfactory home at a more acceptable price.
With the third factor being legal, in your opinion, what should people and investors pay attention to?
With legal factors, buyers are always interested in finding out about land use rights, ownership of properties attached to residential land, ownership term, 1/2000, 1/500 planning, construction permits and contracts. purchase and sale agreement. All these legal documents directly affect the certification process.
For apartments, although the Draft Housing Law (amended) has not been officially approved, but now there are apartments in the market with long-term and limited-term ownership, as well as many segments. ranging from social housing, affordable apartments to high-end and luxury apartments. Therefore, facing the "maze" of projects, home buyers - especially first-time buyers - should research and choose carefully before making a final decision.
Along with the three factors mentioned above, the factors of security - safety, utilities, living space and residential community are all indispensable pieces in the picture that homebuyers imagine of an environment. live well and complete.
Now is the time of the big project, does the concept of living space also expand accordingly?
Along with the urban development trend, the project scale also tends to be "large" as the model of urban areas and satellite towns appears more and more.
In the southern market (HCMC, Long An, Dong Nai), there are some big projects that have emerged recently such as Vinhomes Grand Park (Vinhomes), The Global City (Masterise Homes), Zeitgeist Nha Be (GS E&C), Waterpoint (Nam Long)… With a large land bank from 200 hectares up to thousands of hectares, in general, the characteristics of these "super projects" are aimed at creating a living space with a bold "downtown" character. is busy, bustling with full services and utilities equal to or even more diverse than a typical downtown area (CBD).
The Global City urban area
That is to do this type of project, the distance must also be far enough, the scale must be large enough for the investor to plan the utilities fully and synchronously?
Right. This shows that the project development strategy is anticipating new needs for living space, which can be broadly understood as residents, tenants, people coming to work and foreigners. the area as a passing visitor. From there, developers have more "playing ground" and optimize the exploitation potential from a diverse customer file.
For example, in terms of trade - services, a mega project is capable of meeting enough land fund to develop a complex of office buildings (Business Park model), squares, stadiums, commercial centers, etc. Commercial, water park, theme park... These component projects not only help residents have a fuller and more convenient living experience, but also contribute to promoting regional life and economy.
As for utilities, is there any upgrade in the utility requirements of customers, according to you?
Whether it is a small-scale project or an urban area, there is a clear change in the utility needs of customers, especially young and qualified customers such as experts, foreigners, etc. young couple or family.
The most obvious change that can be seen is the need to pursue a green and modern lifestyle. In addition to the design of the apartment, customers are increasingly interested in landscape factors (green space and lighting), ventilation, noise levels, and quality of materials in the overall project site in order to evaluate features beneficial to end-user health, energy saving and environmental friendliness.
From the perspective of equipment layout, homeowners or tenants increasingly prefer the application of smart devices in the house to easily control or automate functions such as remote monitoring, air conditioning, etc. lighting and security. These things, which have received almost no attention before, are now becoming one of the first environmental considerations.
More and more projects have apartments serving single-family customers, this must also "create" new requirements, sir?
When the area of the apartment tends to be compact and multi-functional (such as a studio apartment of only 25 - 30 m2), residents will have new needs for utility services to make life more comfortable. For example, working and living spaces such as reading room, cinema room, laundry room... In general, with the high average living standard of young urbanites, the addition of new types of utilities will increase the attractiveness of the project to buyers with real housing needs.
The Real Estate market welcomes a new supply source with projects by Masterise Homes starting from mid-2023
Expanding the An Phu - Belt Road 2 Expressway section, adjacent to The Global City in Ho Chi Minh City