Is late 2023 a good time to buy a house?

Many positive dynamics for the market

The Vietnam Real Estate Consumer Sentiment Report (CSS) by Batdongsan.com.vn in the second half of 2023, surveyed by this unit, shows that 61% of people still want to buy real estate within the next year, showing that demand continues to increase.

Another study by Savills shows a remarkable figure, from 2023 to 2025, the city will have an additional 157,000 households. However, the future supply includes 59,000 apartments (all categories), 9,000 low-rise houses and 18,700 social housing units expected to be launched for sale; therefore, there is still a shortage of 70,300 houses.

The real estate market is more vibrant with the driving force coming from macro policies and preferential sales policies of investors.

The gap between supply and demand in the housing market is increasingly clear, many people expect to be able to buy a house right now before prices continue to increase. However, in the "storm" covering the global economy, income is affected, customers' psychology has to face the worry about financial problems, how to ensure the efficiency of cash flow.

Speaking at the “Conference to assess the situation and remove difficulties for the real estate market”, Mr. Dao Minh Tu - Deputy Governor of the State Bank of Vietnam said that the State Bank has continuously adjusted down the operating interest rates 4 times in the first 6 months of the year with a reduction of 0.5-2.0%/year for all types in the context of the world interest rate level continuing to increase and anchor at a high level.

This allows credit institutions to access capital from the State Bank at a lower cost, thereby reducing 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.

Good policies bring many benefits to home buyers

However, the current context not only requires policies to remove obstacles from the Government to be put into practice, but also requires more preferential policies from investors to be able to "pull" the real estate market back to recovery.

Many investors have launched large stimulus policies such as direct discounts on selling prices and support for loan disbursement with 0% interest rate for a certain period of time. These activities have really brought good results in terms of project liquidity, bringing the real estate market back to life.

Notable projects recently 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 "Center of Residence - Experience the value of life", the investor has offered many payment options depending on personal financial plans. Accordingly, customers only need to pay a maximum of 30% of the apartment 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 with only 5%/quarter within 3 years. The remaining apartment value will be divided into many small payments, each payment is only from 5% of the apartment value. The time between payments is 3 months apart and no later than September 2026 (conditionally applied according to the sales policy).

With the policy of "Civil Center - Experience the value of life", customers only need to pay 30% to immediately receive an apartment to live in or exploit for rent in 2023. (Photo: Masteri West Heights Project).

At Masteri Waterfront or Masteri West Heights, apartments are handed over with high-class standards, professionally managed by Masterise Property Management - a member of Masterise Group. Therefore, owners can immediately exploit for rent, contributing to increasing profits for the apartment. On the other hand, apartment owners can immediately exploit for rent at prices from 10 - 16 million/month, bringing stable cash flow in the context of difficult economy.

For customers who have not accumulated much, they can choose to borrow 50% or 80% of the apartment value from the bank (conditions apply) 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 from 400 - 600 million VND.

In general, the current time is considered to have many favorable factors in terms of prices, interest rates and preferential policies to support customers. Along with that, the proactive and flexible response of investors to the continuous changes of the market... will also help the real estate market develop more healthily in the coming time.

Bao Anh

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