Good sales policy is still the factor that drives the market

According to a home buyer psychology survey conducted by Batdongsan.com.vn in the second quarter of 2024, more than 68% of home buyers participating said they prioritize real estate projects with good financial policies, especially 0% interest rate support and discounts. The remaining 26% still prioritized the payment policy factor when deciding to spend money to buy real estate and only 6% did not care about this criterion when buying a house.

This shows that sales policy is still a factor of great concern when choosing to buy a real estate project in the context of interest rates still being quite high. Regarding the Top most attractive support policies for real estate buyers, more than 68% of home buyers highly appreciate the investor's support of a 0% interest rate policy; 68% highly appreciate the investor's direct discount policy for early payment; 49% value the investor's free management fees, parking fees, etc. and 35% highly appreciate the application of a fixed interest rate as well as extending the payment period for buyers.

Mr. Le Bao Long - Strategy Director of Batdongsan.com.vn said that it is not surprising that home buyers prioritize real estate projects with good financial policies because most people who want to buy a house still have to use financial leverage when deciding to buy real estate.

Currently, only about 27% of home buyers with families and children do not need to borrow capital when buying real estate. The remaining 70% still need to borrow capital with the lowest level being less than 30% of the property value. Even with the group of single customers, only 30% of them have enough capital to buy a house without borrowing.

"46% of home buyers intend to borrow for 5-10 years, nearly 20% for 10-20 years. Therefore, flexible payment policies, extended progress and preferential interest rates are still the top priorities for many buyers when choosing a project," Mr. Long shared.

Top policies that interest home buyers (Photo: Batdongsan.com.vn)

According to this unit's research, 50% of home buyers participating in the survey said that the most reasonable floating interest rate for borrowing is below 8%. However, in reality, the current floating interest rate for home loans is still quite high, averaging 11-12% per year. This is also a factor that strongly affects customers' psychology, causing many people, despite having the need and even having financial preparation, to not dare to spend money because they are afraid that interest rates will tend to increase in the long term.

In addition, the criteria for choosing to buy a house for different groups of people also have different priorities. For the group of buyers for living, in addition to price and location, the security of the area and the living environment around the project are the top priorities (accounting for 63% and 62%), followed by construction quality, connecting infrastructure and legal status when choosing to buy a real estate project.

For buyers to invest, the two factors of security and living environment are also highly valued, but the factors of infrastructure connection and legality are given more priority than the construction status. In addition, the educational factor is increasingly valued by the group of home buyers, whether married, divorced, with or without children. This criterion accounts for 19-21% and is always in the Top of the top priority factors when choosing to buy a real estate project. For the group of young single people, service facilities such as shopping and entertainment are given more priority, followed by the factor of regional security.

In particular, the selling price factor is still a challenge for home buyers, as the high anchoring price is one of the reasons why home buyers feel negative when participating in the real estate market. To solve this problem, instead of reducing the selling price, many businesses have introduced attractive sales policies, supporting loan interest for real estate projects for sale to reduce the worries of home buyers.

In reality, most investors offer interest support of 24 months, along with a principal and interest grace period. Payments with own capital also enjoy a discount of 10-30% to

Many investors are offering attractive discounts to boost liquidity.

promote liquidity. In addition, many projects also offer gifts such as management fees, service vouchers and even limited-edition cars. As for investors, many projects are offering interest rate guarantee programs to ensure profitability for customers in the first 2-3 years.

According to Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn in the Southern region, most investors are targeting real buyers, so in addition to calculating a suitable price level, sales policies must also be practical and hit the psychology of buyers. Therefore, at this time, the market will still lean towards buyers.

However, according to this expert, the primary price of many real estate projects will still increase when the market improves, and policies from investors will not be as numerous and "generous" as they are now. The increase in real estate prices does not only come from limited supply but also from other factors such as urbanization, inflation, gold prices, etc. Above all, the 2024 Land Law and the new Real Estate Business Law may further escalate project development costs and increase housing prices in the coming period.

Source: https://www.congluan.vn/chinh-sach-ban-hang-tot-van-la-yeu-to-thuc-day-thanh-khoan-cua-thi-truong-post300685.html