Apartment prices are unlikely to decrease in the coming time.

Data reported by the Batdongsan.com.vn trading floor shows that real estate prices are not showing any signs of decreasing in the second quarter of 2024. Compared to the price level of 2023, apartment prices in Hanoi increased by an average of 31%, land prices increased by 19%, private houses increased by 32% and villas increased by 18%.

Real estate prices in Hanoi and Ho Chi Minh City are unlikely to decrease in the near future (Photo TL)

Meanwhile, the real estate market in Ho Chi Minh City tends to move sideways with low liquidity. However, despite low liquidity, land plots, private houses, and townhouses do not have a price decrease. In particular, apartments have increased in price by 6% compared to the same period.

One notable point is that although the real estate price level has not shown any signs of cooling down, people's psychology has changed. A survey on homebuyer psychology in January 2024 showed that 55% of participants predicted that home prices would decrease. 24% predicted that home prices would stagnate and only 21% thought that prices would continue to increase.

By the second quarter of 2024, 79% of respondents said that real estate prices will continue to decrease, only 8% predicted that prices will remain stable and 12% said that housing prices will continue to increase.

Experts at Batdongsan.com.vn believe that currently in Hanoi, the supply of new apartment projects has not improved. Therefore, the general price level of apartments or real estate in the center of Hanoi will still be difficult to decrease in the near future due to high demand and limited supply.

It has been recorded that in the past 10 years, the average price of apartments in Hanoi has always been lower than in Ho Chi Minh City. However, in March 2024, it was officially recorded that the average price of apartments in Hanoi was higher than in Ho Chi Minh City.

Source: https://www.congluan.vn/mat-bang-gia-chung-cu-thoi-gian-toi-van-kho-giam-post300328.html