(Dan Tri) - According to experts, buyers can look for real estate in areas far from the center. This requires flexibility in moving but is a feasible solution for those with limited budgets.
Apartment supply improves but prices remain high
According to a real estate unit's report, supply has improved significantly compared to 5 years ago, with the total supply of new apartments in 2024 reaching 24,996 units, the highest since 2020.
However, apartment prices for sale remained high. Primary asking prices (prices sold directly from investors) reached VND75 million/m2, up 9% quarter-on-quarter and 29% year-on-year.
In 2024, apartments priced above VND4 billion accounted for 59% of total units sold, a significant increase from 2% in 2020. Apartments priced between VND2 billion and VND4 billion accounted for 40%, while only 1% of apartments were priced below VND2 billion.
Ms. Do Thu Hang - real estate expert - said that the price of apartments for sale in the primary market in Hanoi continues to be high. Even the affordable apartment segment, which was considered low-cost commercial housing with an average price at the previous time only fluctuating between 30-40 million VND/m2, has now reached about 50 million VND/m2. Apartments with lower prices are very rare.
An apartment building in Hanoi (Photo: Tran Khang).
Ms. Hang commented that the current problem of the market is the lack of supply of low-cost and affordable apartments, but it is undeniable that there is a great demand for higher-priced apartments. As the price level increases, buyers with limited budgets will have difficulty accessing housing that fits their financial capacity.
The market is currently experiencing an imbalance in supply, but with the adjustments from the Land Law, the Real Estate Business Law and the Housing Law, in the coming time, areas suitable for developing affordable housing will receive more attention. The law of supply and demand shows that when there is demand, supply will certainly gradually be met.
What should home buyers do?
Buyers can still have other options to seize the opportunity to own a house. Because, although it only accounts for a small proportion, it cannot be said that the supply of apartments under 2 billion VND has completely disappeared, but mainly the number currently available on the primary market is increasingly scarce.
In the secondary market, these apartments are still available, although most of them are located in areas far from the center and have small areas. In addition, in terms of planning, there are still many projects in the planning stage. Therefore, the apartment segment priced under 2 billion VND may continue to be supplemented in the near future. If this supply does not appear from the commercial market, social housing will be an alternative solution.
Alternatively, another strategy is to look for properties in areas further away from the city centre where prices are more reasonable. This may require some flexibility in moving, but is a viable solution for those on a tight budget.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Association of Realtors (VARS) - also said that the ability to pay for housing for middle-income people is increasingly difficult as housing prices continue to increase, and newly opened apartment projects all have prices from 60 million VND/m2 or more.
But with the current high housing prices in Hanoi, the rate of price increase is unlikely to be maintained as in the past. The current situation of bank interest rates is not fixed, in some periods the adjustment of interest rates makes home loans more expensive, which can make many home buyers unable to meet the payment for installments.
"Buyers need to accept moving to lower-priced areas such as districts far from the center or satellite cities around Hanoi," he said.
Source: https://dantri.com.vn/bat-dong-san/gia-chung-cu-tang-cao-nguoi-it-tien-mua-nha-o-dau-20250222153120855.htm
Comment (0)