Real estate expectations to improve

Sharing with VietNamNet reporter, Mr. Vu Cuong Quyet, General Director of Dat Xanh Mien Bac, said that from the second quarter of 2024, the stable macro economy and reduced interest rates on home loans are the driving force to stimulate buyers; laws such as the Law on Real Estate Business, the Housing Law, and the amended Land Law taking effect soon create excitement for investors and buyers. Even in the Hanoi market, although house prices are high, liquidity is still good...

With these signals, Mr. Quyet is quite optimistic about the real estate market and assesses that 2025 will be a year of stable development.

“However, housing prices are unlikely to decrease, especially in Hanoi and Ho Chi Minh City. The reason is that the new land price list closely follows market prices; land tax, compensation and clearance are all based on market prices. However, it is difficult for prices to increase suddenly when many projects were cleared at the end of last year. This will help the supply in 2025 be abundant in the two big cities,” said Mr. Quyet.

Regarding lending rates for home buyers and businesses, Mr. Quyet commented that the interest rates are currently at a fairly good level of 6.5-7% for home buyers and 8-9% for businesses. Normally, the first quarters of the year have excess capital, so it is unlikely that interest rates will increase at this time.

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Businesses are optimistic about the real estate market and assess that 2025 will be a year of stable development. Photo: Hoang Ha

Also expecting the real estate market to develop well for at least the next 3 years, Mr. Vu Kim Giang, Chairman of the Board of Directors of SGO Group Corporation (SGO Group), commented that 2025 is a pivotal year, and provinces and cities will have to rebuild almost the entire land price list to apply in 2026.

This will establish a new price level in the market in all stages, from compensation to land use fees. Old projects established in the previous stage with suitable prices will have good liquidity.

“Along with favorable macro factors, political, economic, cultural stability... combined with the promotion of large infrastructure projects in recent times will help real estate benefit greatly. In particular, with open credit policies, high annual growth rates help businesses access capital more easily, and people can also borrow money to buy houses more easily,” Mr. Giang assessed.

Also expecting the market to improve this year, Mr. Nguyen Anh Que, Chairman of G6 Group, has some concerns about the proposal to tax real estate.

Expressing his support, Mr. Que said that it is necessary to study the appropriate time for application because at this time the market is still facing difficulties, so there is no need to rush to apply it.

Along with that, the regulation from August 1, 2024 requires real estate brokers to have a practice certificate. Mr. Que proposed that provinces need to have quotas and organize courses for brokers to take exams to obtain certificates and practice within the legal framework.

“The supply of commercial and social housing in big cities like Hanoi will be difficult to reduce if housing prices do not increase. Therefore, it is necessary to balance supply and demand,” Mr. Que added.

Enterprises 'fishing' in provincial markets

Sharing more about the company's plan in 2025, the leader of Dat Xanh Mien Bac said that the unit has the orientation to expand its segments in satellite provinces of Hanoi, northern industrial provinces such as Nghe An, Thanh Hoa, Quang Ninh, Bac Ninh, Bac Giang...

“We will focus on the land segment for middle-class customers in satellite cities of Hanoi. At the same time, we expect the South to be a good investment market for northern investors to invest in,” Mr. Quyet revealed.

Meanwhile, SGO Group leaders shared that they will focus on strategic markets on two main axes: Hanoi - Bac Giang and Hanoi - Quang Ninh.

“We will promote from investment to service, focusing on finding projects with full legal documents for development and promoting projects that the company has established in the past to anticipate demand when there are competitive prices and locations. 2025 is a very good time for investors to choose investment opportunities for the next cycle,” Mr. Giang expected.

Believing that the real estate market will be better in the new year with increased transactions and supply, the Chairman of G6 Group shared that his company will focus 80% on the Phu Quoc market because land prices here are still cheap, suitable for the investment needs of many people.

The remaining 20% ​​are interested in other markets such as Hanoi, Ha Nam, Sa Pa... with land, apartment, and villa products.

The Prime Minister is about to chair a conference with a series of large real estate enterprises . The Ministry of Construction submitted to the Prime Minister the organization of a conference to promote social housing and the healthy and sustainable development of the real estate market, expected in January 2025.