Real estate is getting 'warmer'?

According to data from Batdongsan.com.vn, in July 2024, the level of real estate interest this month was 6% higher than the previous month, while the number of listings increased by 7%.

Notably, while in previous months, the increase only occurred locally, in July 2024, the number of searches and the number of listings increased almost across the entire market.

Accordingly, apartments are the type of property with the strongest increase in searches at 7%, followed by private houses, land plots and villas with increases of 7%, 6% and 5% respectively.

Meanwhile, the number of listings for private houses increased the most with 9%, followed by project land, villas and apartments with 8%, 7% and 6% respectively.

Since the beginning of the second quarter until now, the real estate market has had more positive developments than in the first period of the year. (Photo: ST)

In the Hanoi market, searches for real estate for sale in Hanoi increased by about 10% compared to June, although still quite low compared to the peak set in March 2024, this is the highest increase compared to recent months. The number of listings for sale also increased by about 6% compared to the previous month.

Notably, both the sales and rental markets recorded growth in searches and listings. Of which, apartments were the leading type of property with an increase of 13%, followed by private houses, land plots and project land with an increase of 7-8%.

In the Ho Chi Minh City market, similar to Hanoi, the Ho Chi Minh City real estate market in July 2024 also recorded an increase in searches and the number of listings in most types compared to June.

Specifically, both the number of listings and the number of interests increased by 9% compared to the previous month. However, if we consider the type of market, the market in Ho Chi Minh City is a bit different from that in Hanoi. Specifically, private houses and land are the two types with the strongest increase in searches, while in Hanoi, it is apartments.

Meanwhile, according to data from the One Housing Center for Market Research and Customer Insight, as of the second quarter of 2024, the average apartment price level in the entire Hanoi market is about 65 million VND/m2.

Accordingly, the apartment price in the West area is approximately 70 million VND/m2, the price level in the East area reaches 56 million VND/m2.

The gradual replacement of mid-range projects by high-end and luxury projects has caused the average price of apartments to increase the most from 2021 to present.

Despite high anchor prices, data from the OneHousing Center for Market Research and Customer Insights shows that in July 2024, primary and secondary transactions still increased in the East and West of the city.

Mr. Tran Minh Tien, Director of OneHousing Center for Market Research and Customer Insight, commented: The increase in apartment transfer transactions in Hanoi in July is due to the trend of customers wanting to complete transactions before the Ngau month.

“In addition, the strong increase in demand also shows that the demand for real housing remains high in Hanoi. As new apartment prices continue to rise, many customers tend to choose apartments for sale at more reasonable prices, especially in newly-opened urban areas with full amenities in the East and West,” said Mr. Tien.

Source: https://www.congluan.vn/thi-truong-bat-dong-san-da-thuc-su-am-dan-post310212.html