(Dan Tri) - The real estate market is facing a new cycle, moving towards sustainable development, thanks to the strong support of a complete legal framework and quality investment in traffic infrastructure.
Positive factors
Never before has the real estate market received such positive signs of recovery as in recent times, thanks to strong changes in the legal corridor. If 2024 is the year to lay the foundation for a new development cycle of the market, this year is considered a pivotal moment of transition.
Experts believe that the real estate market has left the U-shaped bottom, has grown again and continues to show signs of growth until the end of 2025, aiming for an official recovery in 2026. Homebuyers will thus have the opportunity to increase their ownership of suitable real estate products, with full legal documents and potential for price increases.
Ms. Do Thu Hang - Senior Director of Consulting and Research, Savills Hanoi - commented that important laws related to the real estate market such as the Law on Real Estate Business, the Land Law, and the Housing Law have all been passed and come into effect earlier than expected. The new land price list has also been applied immediately by many localities, helping developers visualize their project implementation plans more clearly.
In addition to the laws taking effect and "permeating" into the market, experts also expect other support policies to help increase real estate supply this year. The government has been making efforts to reduce the licensing time for new projects and resolve legal problems of existing projects.
According to estimates from a research unit, real estate supply this year could increase by 44% compared to last year, in Hanoi and Ho Chi Minh City alone. Increased supply along with the acceleration of infrastructure projects and public investment will contribute to increasing real estate prices.
Infrastructure is one of the factors expected to boost real estate supply this year (Photo: Trinh Nguyen).
In fact, in 2024, housing supply in Hanoi will somewhat overwhelm that of Ho Chi Minh City, thanks to large land funds and benefits from transport infrastructure projects.
Speaking to Dan Tri newspaper reporter, Ms. Duong Thuy Dung - Senior Director of CBRE Vietnam - admitted that projects in Hanoi are receiving strong attention thanks to large urban areas, with an area of several hundred hectares, expanding in both the East and West. Products are highly absorbed thanks to good infrastructure connectivity, people can travel from the suburbs to the center in less than 1 hour.
Experts expect that this year, transport infrastructure projects and public investment projects will continue to be promoted, helping to diversify the real estate supply. In Hanoi, the market can benefit from transport infrastructure projects such as Ring Road 2, Ring Road 3, Thanh Tri Bridge, Vinh Tuy Bridge... Many large bridges such as Tu Lien Bridge, Ngoc Hoi Bridge, Me So Bridge... will also be formed in the future.
In the South, Ho Chi Minh City and neighboring provinces are also urgently clearing land and building a series of belt roads and expressways such as belt road 3, belt road 4, Bien Hoa - Vung Tau, Ben Luc - Long Thanh expressways... to enhance regional connectivity. In particular, Ho Chi Minh City has just put metro line 1 into operation and is continuing to implement other urban railway lines.
Infrastructure investment is one of the expected factors for the bright spot of the real estate market this year.
Responding to Dan Tri newspaper reporters, Ms. Huynh Thi Kim Thanh - Manager of Savills Vietnam Investment Consulting Department - said that the real estate market in 2025 is expected to become more vibrant than last year thanks to the improvement in supply in many segments. In particular, residential real estate in the suburbs and satellite cities near Hanoi and Ho Chi Minh City is becoming increasingly attractive thanks to the development of transport infrastructure.
The boom in infrastructure projects not only creates immediate positive changes but also lays the foundation for long-term development of the real estate industry. With support from the Government and attention from international developers, the Vietnamese real estate market promises to continue to grow strongly, creating new breakthroughs in the future, a representative of Savills affirmed.
Buyers are ready to "pay"
Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn - said that the psychology and behavior of investors have begun to change recently. Instead of just researching and exploring, many investors are now ready to "put down money". The interest of investors at this stage is focused on the real estate segment, with clear legal status.
According to Mr. Quoc Anh, from 2024, buyers' interest in the real estate market will begin to increase again after the previous two years of stagnation. 2025 will continue to witness the recovery of the market and buyer sentiment. Investors will be interested in segments with potential for price increases, selling prices and liquidity will increase in many types.
Homebuyers are interested in real estate again, making purchasing decisions faster (Photo: Thu Hang).
Ms. Trinh Thi Kim Lien - Marketing Director of Dat Xanh Services - said that market confidence from customers has been strengthened and improved significantly. In 2024, the level of interest in real estate increased by 44% compared to the previous year and 3 times compared to 2022.
The time it takes for customers to make a purchase decision is also faster. About 41% of customers only take 1-3 months to make a purchase decision, much higher than the 18% of the previous year. The number of customers taking a year to make a decision also decreased from 52% to 6%.
Ms. Lien said that this year's demand has clearly improved, and the market has seen the emergence of large "wave-leading" market areas. In the North, the "wave-leading" market is expected to continue to be Hanoi; "wave-following" areas such as Hai Phong, Hung Yen, Ha Nam, Bac Ninh, Bac Giang, Thanh Hoa, focus much attention on apartment types, low-rise project houses, and individual houses.
In the South, the representative of the above unit predicts that Ho Chi Minh City and Binh Duong will continue to be the "leading" markets thanks to the interest of customers with real estate needs. The "following" markets are Ba Ria - Vung Tau and Dong Nai, expected to record outstanding activities in the apartment and resort segments.
Source: https://dantri.com.vn/bat-dong-san/bat-dong-san-ron-rang-don-chu-ky-moi-hoi-tu-loat-dong-luc-tang-truong-20250124095548384.htm
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