How is the real estate market going from the statistics of The Global City?

The Global City – Despite having experienced a turbulent year with the negative impacts of the Covid-19 epidemic, Vietnam's real estate market is still considered the most dynamic and dynamic in Asia. ASIAN.

 

How is the real estate market going in 2021 - 2022_-compressed

 

Vietnam's real estate market is still considered to be the most dynamic and dynamic in Asia.

According to the assessment of the Vietnam Association of Realtors (VaRS), the real estate market is forecasted to have a very positive outlook in the next 20 years because the level of urbanization is still low and taking place strongly. The economy maintains a high growth rate, and infrastructure has plenty of room for growth.

In the context that Chinese real estate is in an unstable period after a long period of overheating, Evergrande has a debt issue crisis, is facing the risk of bankruptcy and Hong Kong is politically unstable. Vietnam still maintains relative competitiveness in terms of prices and resources compared to other countries in the region.

 

A recent report by VaRS shows that in the last quarter of last year, real estate prices continued to increase despite the Covid-19 epidemic.

The process of forming new cities is driving the price increase. Along with that, the shortage of supply leads to high selling prices.

Notably, the real estate market has appeared a local bubble, land prices in areas increased sharply according to projects. However, house prices increased but liquidity did not increase commensurately.

In terms of region, in the north, Hoa Binh, Vinh Phuc, and Bac Giang are the three provinces with the most positive signs of recovery in the residential real estate segment as investors look for an alternative source of Hanoi, which has already began to be scarce.

Bac Giang is also a province witnessing a strong urbanization rate with the development of the industrial real estate segment.

In Hanoi, the supply of residential real estate is scarce due to the slow speed of project approval. About 80% of the products offered for sale are inventory from previous years.

Apartment prices were stable or increased slightly, while housing prices increased sharply by 20-30%.

Local outbreaks of land fever also took place in suburban districts, especially those with information "up to the district".

In Quang Ninh, Van Don airport and the highway connecting the northern economic triangle (Hanoi - Hai Phong - Quang Ninh) are expected to light up the real estate market in this area in the near future.

Similarly, in Hai Phong, the highway connecting the northern economic centers has attracted investors looking for opportunities with real estate in these provinces.

In the southern region, Long An and Dong Nam are considered new stars in the current real estate investment trend.

Meanwhile, Binh Duong with a strong urbanization rate and favorable geographical location is very good for residential real estate development.

 

In Ho Chi Minh City, the segments of land plots, apartments, townhouses/villas in 2021 all saw declines in both supply and demand.

The East area leads the supply of apartments, townhouses/villa while suburban districts such as Binh Chanh, Cu Chi, Hoc Mon, District 9 (old) lead the supply of land plot segment.

Although supply is higher than demand, prices are recorded to increase compared to 2020 in all segments. This trend is forecasted to continue in 2022.

Mr. Nguyen Van Dinh, Chairman of VaRS, said that in the process of formation and development, investment in transport and urban infrastructure will increase the value of land.

However, the value of real estate must be proportional to the infrastructure investment process. Meanwhile, the increase of recent years is not compatible with the increase in investment but is increasing virtually, potentially creating a bubble.

According to Mr. Dinh, unlike in the past, all hot areas now appear only when professional investors withdraw.

The rest of the price blows, most of them are land brokers, traders and even amateur investors, also known as F0 investors.

This is the group that will face major consequences when the bubble bursts. On the other hand, the transaction rate in hot regions is usually very low.

 

It is known that the authorities are focusing strongly on strengthening institutions and legal corridors to remove obstacles for the current market.

See more at: https://theglobal.vn/

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