Real estate businesses expect the market in the fourth quarter

With the positive changes in the real estate market from the second quarter until now, many real estate business leaders believe that the market is on the path to recovery and the last months of the year will be the defining time for 2025.

Ms. Nguyen Huong, General Director of Dai Phuc Land Real Estate Joint Stock Company

Market sentiment is recovering.

- Ms. Nguyen Huong, General Director of Dai Phuc Land Real Estate Joint Stock Company

Following the overall market since the beginning of the year, I see that from the second quarter until now, market sentiment has begun to recover. Accordingly, investors have actively developed new projects for sale instead of the apprehension of 2022 and 2023. Customers who were "indifferent" to the real estate market after 2023 have also started to spend money to buy houses, most clearly seen in the sharp increase in transactions. On the bank side, instead of limiting lending to the real estate industry, they have actively launched reasonable credit packages for home loans.

In addition, for brokerage businesses, brokerage floors have begun to actively recruit staff, expand sales scale and product lines, instead of focusing on just one area or product line as before. As brokerage businesses grow, it means the market will be more vibrant.

In terms of product lines, I think that the remaining 3 months of 2024 will see a major market shift. In particular, if we cut each segment, region, and area, we will see that products and areas have different levels of excitement. The Southeast will strongly develop affordable apartments, while the Southwest will still focus on the townhouse and land segment.

For the Van Phuc City Project, we are applying for a construction permit so that we can launch the first apartment project to the market in early 2025. With this high-end project, we believe that it will help Ho Chi Minh City quench its thirst for housing, especially in the northern part of Ho Chi Minh City - where there is a lack of apartment projects.

Mr. Ngo Quang Phuc, General Director of Phu Dong Real Estate Joint Stock Company (Phu Dong Group)

- Mr. Ngo Quang Phuc, General Director of Phu Dong Real Estate Joint Stock Company (Phu Dong Group)

In my opinion, in the last months of 2024, the market will have certain bright spots, but it will take more time for the market to break out. The recovery of the housing segment in large cities will create liquidity and be a factor leading the market. In addition, signs of economic recovery and efforts to introduce new amended laws such as the Housing Law, Real Estate Business Law, and Land Law will contribute to strengthening investor sentiment and clearing legal obstacles.

Many new regulations of the above laws, such as regulations on payment for real estate transactions must go through banks, and land subdivision and sale in most major localities are not allowed, are expected to increase transparency in the market. These are necessary things in the real estate market to help the market develop sustainably and transparently.

In the fourth quarter of 2024, we will officially hand over the Phu Dong Sky Garden Project in Di An City - a luxury apartment complex with 640 apartments. In addition, we are introducing to the market the Phu Dong SkyOne Project also in Di An City, including 780 apartments priced at 31.5 million VND/m2, meeting the real housing needs of local people. In addition, we are completing the legal procedures for 2 other projects also in Binh Duong to be able to launch on the market in 2025.

Mr. Nguyen Dinh Truong, General Director of TT Capital Investment Joint Stock Company.

Affordable housing dominates the year-end news.

- Mr. Nguyen Dinh Truong, General Director of TT Capital Investment Joint Stock Company

In my decades of working in the real estate industry, I have noticed that out of 10 projects announced to the market, 8 are affordable housing projects, linked to real customers. This shows that this product line is and will dominate the airwaves in the fourth quarter and 2025.

The reason why businesses are competing to develop this product line is the absence of real estate investors in this segment, while the number of people with real housing needs is quite large. In addition, housing development policies in localities also focus mainly on these product lines.

As a newly established enterprise, when developing its first project, TT Capital also chose affordable products as the foundation for development. Since its establishment, we have cherished the desire to bring customers affordable housing products, meeting the real housing needs of people and making the dream of owning a house in the city easier for customers.

We believe that the combination of reasonable prices and high-quality services will make a difference for TT Capital's products in the current real estate market. We always focus on improving the living experience of residents with outstanding services, developing projects with modern utility ecosystems, improving the quality of life for residents...

Laying the foundation for that goal, TT AVIO is the first dedicated project under the TT Capital brand to be implemented. The project is located in a prime location right in the center of the dynamically developing Di An City (Binh Duong), adjacent to Thu Duc City (HCMC). With a scale of nearly 2,000 apartments priced under 2 billion VND, the project will meet the increasing demand for quality housing, creating a civilized and prosperous community of residents with outstanding experiences.

As an investor, we are committed to building the project according to standards and ensuring progress, legal transparency, ensuring the rights and accompanying the future residents of our project throughout. TT Capital hopes that, upon completion, the TT AVIO Project promises to become a prominent architectural highlight, a new symbol in the heart of the developing "industrial capital" of Binh Duong, contributing to bringing an ideal place to live for customers.

Mr. Tran Duc Vinh, Chairman of Tran Anh Group .

- Mr. Tran Duc Vinh, Chairman of Tran Anh Group

Assessing the current real estate market, I see that there has never been a time when investors think about customers as much as now. Specifically, investors have proactively competed in selling prices, closer to the wallets of real customers. Apartments are currently priced from 25 to 40 million VND/m2 in the suburban areas of Ho Chi Minh City. Townhouses and villas are also priced appropriately and there are no signs of being pushed too high.

In addition, sales policies are also closely following customers' finances, such as supporting bank loans, interest rates, principal and interest grace periods, etc. In particular, investors implement a policy of customers paying monthly installments to the investor, instead of having to borrow from the bank, etc. These policies have made the market more transparent and fair to customers.

Entering the fourth quarter of 2024, Tran Anh Group will continue to sell 3 projects in Chau Doc (An Giang), Tan An City (Long An), Bau Bang (Binh Duong). In addition, we are speeding up the completion of legal procedures to develop a luxury apartment project in Long An. We identify the fourth quarter as the golden time to focus on sales, as well as hand over houses and certificates to customers who have purchased Tran Anh Group's products.

In addition, we also made plans for 2025 based on the market movements of the fourth quarter. Therefore, we expect and believe that the market will be very active in the last months of this year.

Mr. Nguyen Van Hau, General Director of Asian Holding Real Estate Joint Stock Company .

The market is reshaping.

- Mr. Nguyen Van Hau, General Director of Asian Holding Real Estate Joint Stock Company

As the general director of a real estate company directly implementing projects as well as selling, I have noticed that since the beginning of 2024, the market has begun to shift and reshape.

Specifically, with apartment projects, the market is shaping a major shift. This has been happening since 2018, but not really big. By 2022, when the main market, Ho Chi Minh City, has difficulty licensing new projects, this shift will start to become stronger, not only from domestic enterprises, but also from foreign enterprises entering Vietnam.

In addition, the reshaping of product lines and market liquidity has also begun to be implemented, instead of developing low-quality mid-range projects, the products have changed, although the price is mid-range but the quality is very high. Besides, the investor's reshaping of the housing needs of the people is also a top priority.

Asian Holding is also reshaping its product line. Instead of distributing products to investors, we have started to build a strategy to launch our own projects in Dong Nai and Binh Phuoc to sell to the market in the near future. Shaping and developing according to market trends will help us grow stronger.

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