As a result, land is the type of property that potential buyers are most interested in (40%), followed by apartments (28%) and private houses (21%).
" This proves that although the current market situation is not improving, Vietnamese people still want to own land, and the demand for land in the near future will still surpass other types, " said an expert from Batdongsan.com.vn.
According to statistics, land prices have also increased by 69% after 9 years.
Land is still the most interested segment.
Many other experts also agree with the above results and believe that the end of 2023 is a good time to invest in land.
Mr. Pham Duc Toan, General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) commented that the third and fourth quarters of 2023 will be the time when financial pressure on many investors will increase and they will have to reduce the selling price of many land products.
" The market may bottom out by the end of 2023 and this is the right time to invest, " said Mr. Toan.
Similarly, Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Realtors (VARS), assessed that normally, there will be a land fever in a year at the beginning and end of the year. In 2023, land fever is expected to return but will occur later, possibly in the third quarter or at the end of the year, there will be more searches for land. Because by then, the difficulties will have been resolved, the market will have recovered, interest rates will have decreased, and capital mobilization channels will have been opened.
“ In the long term, I think land prices are unlikely to fall sharply, especially for projects of reputable investors with transparent legal status, due to scarcity, pressure from input prices, inflation... Prices may remain the same compared to 2022 but will quickly increase again thanks to new expectations,” Mr. Dinh emphasized.
Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com also commented that in the long term, land is still a potential investment if investors know how to choose products with value in use as well as the ability to exploit to create a stable cash flow.
Currently, the urbanization rate of Hanoi is about 49% and Ho Chi Minh City is about 70%, the whole country has 8 provinces and cities with urbanization rate over 50%. Thus, there is still room for development and the demand for land always exists.
Therefore, the difficult market context is also a good opportunity for experienced investors with financial potential to buy good real estate at attractive prices.
However, you should buy land in areas with good infrastructure and utilities, or near industrial parks, then the price will be stable and have room to increase. As for investment land that does not have high usage value, if you buy it and leave it there, the price will decrease. Provinces with large FDI volumes mostly have stable land prices, rarely falling sharply.
According to data from Batdongsan.com.vn, the number of people interested in buying land in the first 5 months of 2023 decreased by nearly 50% compared to the same period in 2022. The transaction situation in the land market is still quiet due to the confidence of buyers and investors being affected and difficulties in credit limits and loan interest rates have not been completely resolved.
In addition, the number of real estate listings also decreased by 44%. This data partly reflects that both real estate supply and demand are facing many challenges in the face of the general market difficulties.
However, in the real estate consumer psychology report on trends in the second half of 2023 by Batdongsan.com.vn, 61% of survey participants plan to buy real estate in the next year.
Ngoc Vy
Useful
Emotion
Creative
Unique
Wrath
Source
Comment (0)