The "sales race" in the last months of the year

Investors "race" to sell

In the last months of 2023 and early 2024, the real estate market in the South such as Ho Chi Minh City, neighboring provinces of Binh Duong and Long An will start to bustle again when a series of investors start and restart projects.

According to Nguoi Dua Tin , the projects brought to market by investors have almost all been carefully prepared in terms of legality. In addition, there are a number of sales policies introduced by investors to stimulate the market and attract cash flow from investors at the end of the year.

According to DKRA Group’s report, in October, the entire market of Ho Chi Minh City and neighboring provinces had 8 apartment projects opened for sale. Of which, there was 1 new project and 7 projects in the next phase, providing 960 apartments.

New supply in October increased 56% compared to September but recorded a decrease compared to the same period last year.

Notably, the market in Binh Duong province continues to lead in new supply, accounting for more than 2/3 of the total number of apartments opened for sale in the whole market in the month with 665 units. The projects are concentrated in Di An City and Thu Dau Mot City, Binh Duong province.

Real Estate - Southern Real Estate: The — Investors are "racing" to introduce products at the end of the year to attract cash flow.

In Ho Chi Minh City, investors such as Khang Dien Housing Company; Nam Long Group… have launched hundreds of apartments for sale on the market. The above projects are almost all legally complete and are evaluated by experts as rare products of the market in 2023.

In the suburbs of Ho Chi Minh City such as Binh Duong province, the "big guys": Dat Xanh Group; Phu Dong Group, Gamuda Land; Phu Dong Group; Phat Dat Group; Hung Thinh Group; Bcons Group... are also focusing on stimulating the market, restarting projects, and selling products, creating a bustling "race" at the end of the year in this market.

For example, Phu Dong Group started construction of the SkyOne project with a scale of more than 800 apartments. This investor also took the opportunity to launch many products of the Phu Dong Skygraden project in Di An City, Binh Duong Province to offer to customers.

Or corporations such as Bcons; Pigroup also offer apartment products in An Binh ward, Di An city to customers at the end of the year. It is known that in 2023, the number of apartments in Di An city offered to the market accounts for more than 2/3 of the market share of this province.

Also in the plan to stimulate the market and attract buyers near Tet, investors such as Hung Thinh Group, restarted sales of the Lavita Charm project.

Danh Khoi Group Joint Stock Company and Central Joint Stock Company have restarted the Binh Duong commercial center and luxury apartment project - Astral City, all located in Thuan An City, Binh Duong Province.

Project legality is the key to attracting customers .

According to real estate experts, although in 2023 the real estate market in Ho Chi Minh City and neighboring provinces did not have much improvement, even negative growth compared to the same period of previous years.

However, by the end of 2023, many investors have reshaped their business strategies and launched quality products to the market that meet the actual needs of buyers. In particular, the projects are all legally complete and the prices are almost suitable for the buyers' ability.

“At the end of the year, the market in Ho Chi Minh City and neighboring provinces is experiencing many changes, factors such as legal problems in some projects are gradually being cleared, savings interest rates are continuously decreasing, domestic gold prices are fluctuating... This makes investors start to change their mentality, using idle cash flow into real estate instead of keeping it as before,” an expert shared.

Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Realtors (VARS), assessed: “In the last months of the year, the real estate market in the Southern region will likely show signs of positive recovery. Especially in the context of the Government promoting public investment disbursement at the end of the year, in addition, investors selling projects with legal status and preferential policies will attract customers.”

According to experts, some businesses launching projects show a good sign for the real estate market in the South. Buyer psychology has been somewhat strengthened, putting more trust in real estate.

According to observations, investors opening projects at this stage all use payment policies and lower product prices. This is considered the key point to attract investors.

Mr. Ngo Quang Phuc, General Director of Phu Dong Group, commented: "Currently, market liquidity is only focused on a few investors with good sales such as Nam Long, Khang Dien, Phu Dong, Bcons, Le Phong... because these are investors with good products that are superior in terms of legality."

“To be able to attract a number of customers in the months of the year, especially at the end of the year, these investors must have the capacity to implement the project. That is the economic nature of the investor, the legal aspects are complete and the important thing is that the product is affordable. The investors meet the conditions that customers are interested in, so selling the product is a matter of course,” said Mr. Phuc.

According to Nguoi Dua Tin , despite a "gray" market picture, at the end of the year, real estate businesses are still "sprinting" to mobilize financial resources, focusing on next year's development strategy.

And in the current market context, the first factor that investors care about is the project's legal status. Projects with full legal status, developed by capable and reputable investors with flexible payment policies will have the advantage and attract the attention of buyers.

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