DNVN - After Tet, the real estate market in Hanoi and Ho Chi Minh City recorded positive signals when apartment prices tended to slow down.
Data from Batdongsan.com.vn shows that the average price of apartments in Hanoi in the first half of February 2025 reached 62 million VND/m², a slight decrease compared to 63 million VND/m² in January 2025. In Ho Chi Minh City, the selling price of apartments also decreased from 60 million VND/m² to 57 million VND/m².
According to experts from Batdongsan.com.vn, real home buyers, who mainly focus on apartments and private houses, are waiting to see if supply is more abundant in the hope that prices will adjust to a reasonable level. As for investors, they are also considering investment channels and areas. Given the complicated developments of the world market, which can bring both risks and opportunities to the domestic economy, investors are becoming more cautious.
Despite the price slowdown, the market still needs stronger drivers to improve liquidity. The number of listings for sale, rent and real estate searches all increased after Tet, but many real buyers still have a wait-and-see attitude, hoping for more abundant supply so that prices will drop to a reasonable level. Investors, in the context of unpredictable fluctuations in the world market, have also become more cautious in choosing investment channels and areas.
According to Batdongsan.com.vn, after Tet, apartment prices in Hanoi and Ho Chi Minh City tend to slow down.
Remember at the Vietnam Real Estate Conference - VRES at the end of 2024, Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn gave a comparative perspective between average salary and house prices over time.
In 2004, a 7x generation individual needed about 31.3 years of income to buy a 60m² apartment priced at 0.6 billion VND, under the condition of a mobilized interest rate of 7.4%. By 2014, the 8x generation needed 22.7 years of income to buy a similar apartment, when the price increased to 1.5 billion VND, but the mobilized interest rate decreased to 6%.
In 2024, the 9x generation will need 25.8 years of income to own an apartment worth 3 billion VND, even though the mobilization interest rate continues to decrease to 4.5%.
Although interest rates and the number of years of income required have adjusted over time, in general, the dream of home ownership for young people remains a difficult problem.
According to Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn, for those who buy a house to live in, the time of purchase is not as important as preparing a solid financial plan. He recommends that buyers should have at least 30-40% of the house value in their own money. It is necessary to ensure a stable cash flow in the next 3-5 years to avoid financial pressure when borrowing to buy a house. If you do not have enough financial capacity, you should consider renting a house instead of buying at all costs.
The slowdown in apartment prices is a positive sign, but whether this trend is sustainable or not still needs more time to be monitored. In the context of a volatile market, home buyers need to consider carefully before making a decision.
Minh Thu
Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/gia-chung-cu-chung-lai-nguoi-mua-co-nen-xuong-tien/20250213032311850
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