"Brokers" are shouting about apartment prices in Hanoi, but the owner has been advertising for 3 months without any buyers.

(Dan Tri) - Apartment prices in Hanoi are said to have been increasing continuously in recent times, but the owners have been advertising for sale for months without any buyers. The "fever" seems to be only in the mouths of the "brokers".

The owner has been advertising the house for sale for a long time but still has no buyers.

Recently, information about the continuous sharp increase in apartment prices in Hanoi has flooded everywhere, causing many owners to want to take profit. However, some homeowners said that they have been selling for a long time but still have no buyers.

Ms. Nguyen Thanh (Nam Tu Liem, Hanoi) said that in early 2020, her family bought an apartment with an area of ​​78m2, designed with 2 bedrooms at a price of 2.7 billion VND, equivalent to 34.6 million VND/m2. In the middle of this year, her family moved to a house to live. Because she felt that leaving the apartment unused would be a waste, while many people thought that apartment prices were "skyrocketing", she wanted to sell it to get money to invest elsewhere.

In early August, after consulting many brokers, her apartment was valued at 4.8 billion VND, equivalent to 61.5 million VND/m2. Seeing the high price, Ms. Thanh asked brokers to find buyers. At first, some people came to see it but were not contacted again.

An apartment building in Hanoi (Photo: Duong Tam).

By October, Ms. Thanh saw that many brokers still believed that apartment prices would continue to increase. But her apartment had fewer and fewer buyers. To sell quickly, Ms. Thanh lowered the price by VND300 million, but so far she has not been able to make a transaction. "People say that the market is "hot" with prices, and any apartment that is sold is sold out immediately. But I have been posting it for 3 months and still have not been able to sell it," she said.

Similarly, Mr. Tuan (Cau Giay, Hanoi) said that in 2019, his family bought a 72m2 apartment in Thanh Xuan district for 2.9 billion VND, equivalent to more than 40 million VND/m2, to rent out. By September this year, he saw similar apartments being offered for sale at 6 billion VND, so he stopped renting them out to sell.

"I have been posting my apartment for sale for 2 months but still have no buyers. I have seen many apartments in this project being posted for sale but no one has moved in. Seeing that it is not feasible, I recently posted a rental search, waiting to see what the actual market price is before posting it again," he said.

Family members temporarily put plans on hold, waiting for prices to drop

Speaking to Dan Tri reporter, Mr. Nguyen Truong Giang - owner of a real estate trading floor in Hanoi - said that recently, apartment prices have increased sharply, even beyond people's purchasing ability. Recently, apartment transactions have cooled down.

Some buyers are waiting for apartment prices to drop (Photo: Duong Tam).

However, the asking price has not yet decreased because the homeowner has high expectations. On the contrary, on the buyer side, there is a mentality of stopping buying and waiting for the price to decrease.

According to him, if sellers want to liquidate, they should use the price of successful transactions at the project as a reference. If they use the selling price of similar apartments as a reference, it will be very difficult to find buyers.

Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - said that recently, apartment prices have only been "hot" locally in Hanoi due to the difference between supply and demand. Up to now, apartment prices in Hanoi have exceeded the peak.

"I have a group of friends who are all high-income earners, but looking at current apartment prices, they all think they are too high, not commensurate with the value, and very difficult to access," he said.

According to him, apartment prices are too high, so many people have put off their plans to buy a house, thinking that the prices are not reasonable. Therefore, apartment liquidity will gradually decrease. From now until the end of the year, apartment prices will not continue to increase. If there is any increase, it will only be an insignificant local phenomenon. However, it will be very difficult for apartment prices to decrease, except in the case of those who need money to reduce the price to sell quickly.

Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Real Estate Brokers (VARS), said that the level of interest in apartments has cooled down because people have less FOMO (fear of missing out) mentality. However, when a new level has been established, from now until the end of the year, the selling price will be difficult to decrease, especially when the market in Hanoi has not solved the problem of supply and demand.

According to him, although the price increase has signs of impact, creating confusing information from the speculative group creating virtual supply and demand to push up prices in the resale market. Therefore, when "putting money" at any time, buyers need to have a careful price comparison before buying.

Source: https://dantri.com.vn/bat-dong-san/co-ho-sot-gia-chung-cu-o-ha-noi-chu-rao-suot-3-thang-khong-co-khach-mua-20241109013257130.htm