According to the Consumer Psychology and New Trends report published by Batdongsan.com.vn, up to 65% of people said they will continue to buy real estate in the next year. Notably, 42% of them own 2 properties; 38% own 1 property; 8% own more than 3 properties. And 60% of them buy for investment purposes; 48% buy because they need more living space; 22% buy to increase their ownership area.
Thus, the demand for real estate investment next year is assessed to be quite high, many investors have been preparing for a new cycle of the market. That is shown by the cash flow factors returning to real estate in the recent period.
The level of interest and liquidity of land plots have both decreased sharply.
Notably, although the land type is considered quite gloomy, it has not recovered in terms of both interest and liquidity. In particular, the upcoming supply will also be affected by policies to tighten land subdivision and sale.
However, according to Mr. Le Bao Long - Strategy Director of Batdongsan.com.vn, 1/3 of the surveyed people said they would be interested in land, even though this type of property has seen a sharp decline in transactions. Next, private houses and townhouses ranked second with 26%; apartments ranked third with 24%; townhouses and villas were 9% and 6%, respectively.
In terms of price range, the price segment under 2 billion VND/plot attracted the most interest, accounting for 42%; the 2-4 billion VND segment ranked second with 24% of interest; the 4-6 billion VND segment ranked third with 10%; the remaining two segments are 6-10 billion VND and over 15 billion VND with interest levels of 9% and 15%, respectively.
"Because of the thinking that every inch of land is worth an inch of gold of our ancestors, the demand for real estate ownership and the need for asset accumulation of Vietnamese people is very large. Therefore, it is not difficult to understand why land plots receive the most attention from consumers in 2024", Mr. Le Bao Long emphasized.
The biggest positive sign for this type of land is that at the end of the year, the number of posts for cutting losses and land shortages has decreased significantly. Many investors are ready to "hold land" to wait for the opportunity to recover in the coming period.
Land will recover slowly due to investor caution.
Many opinions also say that in the short term it will be difficult to have "land fever", however, many people choose land because this is a popular type in the provincial market, where there are few options when investing. However, after a difficult year, investors have shown more caution and strictness in choosing projects. Therefore, the market will no longer be as easy to buy and easy to sell as in the previous period.
According to Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn in the South, the land market is currently in a tense tug-of-war between sellers and buyers. Buyers want land prices to continue to fall further, while sellers are trying to maintain prices and recover their invested capital. This tug-of-war may soon end around the first half of 2024 when the difficulties in the real estate sector ease and the market enters a recovery phase.
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