The real estate market is gradually becoming more vibrant (Photo: Masterise Homes).
Many drivers for the market
According to Collier data, by the end of 2023, apartment prices will increase by 4-7% compared to 2022, thanks to investors improving the positioning of projects along with prime locations. Collier's report also emphasized that luxury apartments are still a potential segment for future investment, ensuring the safety of cash flow.
The Vietnam Real Estate Consumer Sentiment Report (CSS) for the second half of 2023 conducted by Batdongsan.com.vn also shows that 61% of people still want to buy houses, apartments, and land within the next year. This indicator shows that demand continues to increase.
Another study by Savills shows a remarkable figure, from 2023 to 2025, Ho Chi Minh City will have 157,000 more households. However, the future supply is only 59,000 apartments (all categories), 9,000 low-rise houses and 18,700 social housing units expected to be opened for sale. The remaining shortage is therefore 70,300 houses.
At the moment, many people expect to be able to buy a house before prices continue to rise. However, in the context of many economic difficulties, income is affected, customers have to face financial worries, have difficulty in ensuring cash flow to pay for needs and repay loans.
To add a catalyst to help customers make decisions quickly, many policies to stimulate the market have been introduced. The State Bank has continuously adjusted the operating interest rate down 4 times in the first 6 months of the year with a reduction of 0.5-2%/year. This creates conditions for credit institutions to access capital from the State Bank at lower costs, thereby creating conditions to reduce lending interest rates to support customers. In addition, many banks also have preferential loans to help customers reduce financial pressure when choosing a place to live.
Along with that, many investors have also launched large stimulus policies such as direct discounts on selling prices, supporting loan disbursement with 0% interest rate for a certain period of time. These activities have brought many results in terms of project liquidity, gradually making the real estate market vibrant again.
Notable projects in recent times include Masteri Waterfront (in the center of Ocean Park 1) and Masteri West Heights (in the center of Smart City) developed by Masterise Homes with attractive sales policies, meeting both residential and investment purposes.
With the policy called "residential center - experience life value", the investor has offered many payment options depending on the customer's financial plan.
Accordingly, customers only need to pay a maximum of 30% of the value to immediately receive an apartment to live in or exploit for rent in 2023. At the same time, customers also enjoy the "payment for settlement" policy package - only contributing 5% per quarter within 3 years. The remaining value will be divided into many small payments, each installment only from 5%. The time between payments is 3 months apart and will be completed by September 2026 at the latest. The policies are applied according to the terms of sale.
Good policies bring many benefits to home buyers
The fact that investors launch big incentives is considered a quick and wise move, sharing benefits with customers in a difficult market context. This helps increase liquidity in the year-end period.
Discount policies, reduced deposit amounts for each product, preferential interest rates and increased payment terms help customers reduce financial pressure and access better real estate products.
Apartments with suitable financial plans, meeting customers' needs for modern and convenient living standards will attract attention. For example, the Masteri Waterfront or Masteri West Heights projects, apartments are handed over with high-class standards, professionally managed by Masterise Property Management - a member of Masterise Group, helping owners to exploit and rent immediately with prices from 10 - 16 million/month.
For customers who have not accumulated much, they can choose to borrow 50% or 80% of the apartment value (with conditions attached) and receive 0% interest support from the investor according to the committed period. With the current average interest rate of 9 - 10%, the interest-free period of up to 2 years helps home buyers save 400 - 600 million VND.
The fact that investors are proactive and flexible in responding to the constant changes in the market as they have done is helping the real estate market gradually recover and develop more healthily in the coming time.
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