According to One Housing's report, preferential lending and deposit interest rates continued to decrease in the first quarter of 2024. In particular, the average deposit interest rate of the whole market in March 2024 decreased to 3.4%.
Meanwhile, preferential lending interest rates of major banks are only 6.5%/year, down 1% compared to the end of the fourth quarter of 2023.
One Housing believes that the decrease in interest rates will cause cash flow to continue to shift to other traditional investment channels, such as gold, stocks or real estate.
Low interest rates, legal issues and many other factors have helped the real estate market recover. (Photo: XD)
By the end of the first quarter of 2024, gold and stocks are the two investment channels with the highest price growth rate, more than 20%/year. However, these are also the two channels with large fluctuation amplitudes when at the same time in 2023, these two types had negative price growth rates.
Meanwhile, apartments and real estate are the 3rd and 4th highest profit-yielding investment types in Hanoi, respectively. The profit growth rate of these 2 types is stable in the period 2023 - 2024 when the growth rate is still maintained at around 10%/year.
In fact, a survey by One Housing shows that more than 50% of respondents are considering and actively preparing to buy a house in the first quarter of 2024, an increase of 17% compared to the third quarter of 2023.
Of these, about 53% of customers surveyed are looking to buy real estate, up 17% compared to the third quarter of 2023. Most of this customer group has high middle-class income and is wealthy.
“Up to 50% of customers plan to buy real estate in the next year,” One Housing's report emphasized.
Although the Vietnamese real estate market in general and Hanoi real estate in particular have shown signs of improvement compared to last year, One Housing believes that the volume of primary apartment transactions is still lower than in 2022, showing that the new market is gradually recovering and has not yet returned to the same level as before and during Covid-19.
Meanwhile, according to a report from the Ministry of Construction, the apartment market continues to attract the attention of groups with real housing needs and medium and long-term investors.
Similarly, demand for individual houses and land increased compared to the previous quarter and the same period last year.
According to the assessment survey of the Ministry of Construction, after the Lunar New Year holiday, in some areas, prices increased slightly and transactions were quite active. Land auctions in new urban and residential areas were implemented more by localities than in the same period in 2023.
"This is also considered a factor that can help the land market become more vibrant in the coming time," the Ministry of Construction emphasized.
Source: https://www.congluan.vn/bat-dong-san-dang-hoi-phuc-nhung-van-chua-lay-lai-duoc-phong-do-post293689.html
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