ANTD.VN - The sharp increase in housing prices in recent times is partly due to rising costs, lack of supply, and especially speculation and price inflation by brokers.
Apartment transactions increase, prices continue to be pushed up
According to data from the Ministry of Construction, in the third quarter of 2024, 16 commercial housing projects with a scale of about 3,314 units were completed, the number of sales was 177.7% compared to before but only 76.1% compared to the same period in 2023.
Along with that, 23 newly licensed projects with a scale of about 11,669 units. The number of newly licensed projects is equal to 121% of the second quarter and equal to 153.3% compared to the same period in 2023.
There are 55 projects eligible to sell future housing with a scale of about 21,374 units, equal to 110% in the number of projects compared to the second quarter and equal to 117% compared to the same period in 2023.
In addition, there are 939 projects under construction with a scale of about 426,158 apartments.
Regarding transaction volume, apartments and individual houses recorded 38,398 successful transactions; land plots had 102,966 successful transactions.
Thus, the transaction volume of apartments and individual houses in the third quarter tended to increase compared to the second quarter, while the transaction volume of land plots tended to decrease.
Specifically, the volume of apartment and individual house transactions increased by 48.3% compared to the second quarter of 2024 (25,885 transactions) and increased by 29% compared to the same period in 2023. However, the volume of land transactions was 82.3% compared to the second quarter (124,991 transactions) and 112.8% compared to the same period in 2023.
Real estate inventory in projects in the third quarter of 2024 is about 25,937 units, of which: apartments have 4,688 units; individual houses have 12,250 units; and land has 8,999 lots.
The inventory of individual houses and land plots in the third quarter of 2024 is 21,249 units/plots (12,250 individual houses; 8,999 land plots), equivalent to 150.6% compared to the second quarter of 2024.
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The affordable housing and apartment segment is scarce, pushing prices up. |
Regarding transaction prices, data from the Ministry of Construction shows that in Hanoi and Ho Chi Minh City, prices continued to increase in both new and old projects, with new project prices increasing by about (4% to 6%) quarterly and (22% to 25%) annually.
For example, in Hanoi, the Vinhomes Ocean Park project in The Zurich subdivision costs about 46 - 55 million VND/m2 in Trung Hoa Ward, Cau Giay; the Lumi Prestige project costs from 69 million VND/m2 in Tay Mo Ward, Nam Tu Liem District;
The Ninety Complex project costs about 60 - 75 million VND/m2 in Dong Da district; The Sapphire - Vinhomes Smart City project costs about 47 - 61 million VND/m2 in Nam Tu Liem district; The mixed-use housing project 107 Nguyen Tuan Vihacomplex costs about 75 - 97.2 million VND/m2 in Thanh Xuan district;
Project of high-rise housing, trees and parking lots at plots of land with symbols: HH4, HH5, CL2, CL3, CX and P1 of Khai Son City project in Ngoc Thuy ward, Thuong Thanh, Long Bien has price from 50 - 68 million VND/m2...
There is a phenomenon of creating virtual prices, "inflating prices"
According to the assessment of the Ministry of Construction, the recent increase in real estate prices is localized, occurring in some areas, some types, and some real estate segments, leading to an impact on increasing general prices.
Regarding the cause, the Ministry of Construction said that a large part of it was due to the impact of a number of factors such as increased fluctuations in land-related costs as well as the impact of applying new calculation methods and land price tables.
In particular, in some localities and areas, there is a phenomenon of land use rights auctions with winning bids many times higher than the starting price. The management and implementation of land use rights auctions in some areas and localities are not good; there is a phenomenon of many investors forming associations and groups to participate in the auction; paying land prices many times higher than the starting price, and then possibly "abandoning the deposit" after winning the land auction with the aim of establishing a virtual price level in the area to make a profit.
The auction of land use rights with the winning bid being many times higher than the starting price will have the impact of increasing the land price level, real estate price, housing price of the neighboring area and the locality; at the same time, it will increase the cost of implementing housing projects, causing difficulties for businesses, reducing supply to the market, negatively affecting the real estate market.
Worth mentioning is the phenomenon of "creating virtual prices" and "inflating prices" by speculators and individuals working as real estate brokers; taking advantage of people's lack of knowledge and investing according to the crowd psychology to make profits.
“These are individuals who operate as freelance brokers, do not have real estate brokerage certificates, are weak in expertise, have limited legal knowledge, lack professionalism, and are weak in business ethics, leading to opportunistic business practices, colluding to raise prices, inflating prices compared to actual values, manipulating the market, causing damage to customers, and reducing the transparency of the real estate market,” the Ministry of Construction said.
The Ministry also assessed that the lack of real estate and housing supply to meet the needs of the majority of people, low-income and middle-income earners in urban areas, also leads to price increases.
This has pushed up apartment prices, especially in some areas where prices have increased locally by about 35% to 40% depending on the location compared to the previous quarter.
In the market, the affordable apartment segment (with a selling price of less than VND 25 million/m2) has almost no transactions and products for sale; mid-range apartments (with a price of about VND 25 million/m2 to less than VND 50 million/m2) still account for a high proportion of transactions and supply in the market.
The reason is that real estate businesses encounter difficulties and problems in legal procedures, especially in determining land prices, calculating land use fees, site clearance, and land allocation.
Many businesses face difficulties in obtaining credit loans and capital from issuing corporate bonds.
Many projects that have been and are under construction recently have had to be temporarily suspended, have their progress delayed, or have their construction progress delayed.
In addition, recent economic fluctuations related to the stock market, bonds, gold, etc. have affected the psychology of people and investors, leading to a trend of shifting people's and investors' cash flow to investing in houses and land as a safe "haven" for accumulated money and investment capital.
Source: https://www.anninhthudo.vn/bo-xay-dung-co-noi-gia-ban-chung-cu-tang-khoang-35-40-so-voi-quy-truoc-post594083.antd
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