Efforts from many sides have contributed to the real estate market's recovery. Although it is not strong enough to revive, it has somewhat escaped the risk of "freezing".
The real estate market is showing many signs of recovery, businesses are ready to launch products to the market. What home buyers are interested in now is how to make prices more reasonable, helping them find a place to live that suits their income.
Indeed, reducing housing prices is not an easy problem to solve. However, the Government's management policies are gradually showing effectiveness, adjusting the real estate market to a stable zone. In particular, the revised Land Law, Housing Law and Real Estate Business Law have just been passed by the National Assembly with many positive adjustments, promising to create great changes for the market.
A recent survey by CBRE Vietnam on investors' intentions and plans for 2024 shows that Vietnam ranks second among the most sought-after emerging markets in terms of investment strategy, opportunities and added value, just behind India.
According to CBRE, most investors in Vietnam focus their attention on industrial and office real estate. Vietnam’s stable and export-oriented economy has fueled growing commercial activities, creating strong demand for efficient supply chain management and logistics.
In addition to commercial real estate, land for residential development projects in Vietnam continues to attract interest. Many investors are actively looking for discounted assets or properties owned by landowners facing legal or financing difficulties. This trend highlights the resilience and attractiveness of the residential segment.
Mr. Nguyen Pham Anh Duy, Director of Investment Consulting (CBRE Vietnam), commented that foreign investors have a long-term vision of the potential of the Vietnamese economy and are willing to invest capital to benefit immediately in the recent price adjustment cycle. This is especially true in the current situation, when the buyer benefits from the seller, who is an investor who needs to divest capital after a long time holding certain assets.
Reality shows that when the market shows more signs of recovery, it is also the time when businesses prepare their goods to "catch the wave".
For example, Van Phuc Group is rushing to launch the first luxury apartment project in Van Phuc City Urban Area. Ms. Nguyen Huong, General Director of Dai Phuc Real Estate Joint Stock Company (a member company of Van Phuc Group) said that in recent years, the Group has mainly developed villas and townhouses, and now it is developing luxury apartments to diversify its products, as well as to suit the project planning and people's needs.
“According to the plan, the new apartment project will launch more than 200 products in the first quarter of 2024, then the product basket will be gradually distributed to the following quarters, the total number of products of the project is more than 5,000. Currently, the project has completed infrastructure such as schools, hospitals, roads, entertainment areas... to serve residents. In addition, Van Phuc Group will continue to launch the next villa and townhouse subdivisions of the Van Phuc City Project,” Ms. Huong informed.
Similarly, Novaland Group said that in 2024, it will recruit more staff for its business system, focusing on launching new product sales in Aqua City project subdivisions in Bien Hoa City (Dong Nai), resort projects in Phan Thiet City (Binh Thuan), Ba Ria - Vung Tau and Ho Chi Minh City. In addition, it will hand over houses to customers in projects in Ho Chi Minh City, Ba Ria - Vung Tau, Dong Nai and Binh Thuan.
For Hung Thinh Corporation, 2024 is considered a "pivotal" year for growth recovery, with the opening of new apartment projects in Ho Chi Minh City and projects in Quy Nhon City (Binh Dinh).
Many other real estate developers such as Phu Long, Gamuda Land, Tran Anh Group, Cat Tuong Group, Nam Group, An Gia, Pi Group… have also planned to launch new projects, most of which are aimed at the affordable housing segment, mainly concentrated in markets near Ho Chi Minh City.
Mr. Tran Xuan Ngoc, General Director of Nam Long Group, shared that to prepare for recovery, businesses must accept to give up small benefits to help customers overcome this difficult period by building policies revolving around customers, in which businesses will play a coordinating role, coordinating with related parties, from banks to contractors, suppliers... to create the best conditions for home buyers.
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