Exciting bottom fishing

In the days leading up to Lunar New Year 2024, the Hoa Lac real estate market is warming up a lot compared to the end of December 2023. Over the past month, the number of land transactions has increased significantly. Some types of land such as subdivided land for sale, land without a certificate have started trading again.

Broker Nguyen Thi Dung said that many investors tend to buy at the bottom. For example, some plots were previously advertised at a very deep loss by the landowner but had no buyers for a long time. Now the price has increased but there are still customers who "close" to pay and buy right before Tet.

According to the reporter's investigation, investors are interested in land in the resettlement area of ​​Hanoi National University. Land prices are from 25-35 million VND/m2. Land for long-term residential use is priced at 20-25 million VND/m2. Land for resettlement in Bac Phu Cat and Binh Yen is less traded because the price is quite high, from 30-40 million VND/m2.

Ms. Phuong Mai, another broker, commented that after more than a year of being "frozen", land for sale has now started trading again, with prices ranging from 10-15 million/m2.

"In mid-January, I closed 2 plots of land to sell to customers, priced at just over 1 billion VND/plot. This type of land is cheap but has a lower risk rate than other land, in return for a large profit margin," said Ms. Mai.

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Many people invest in Hoa Lac land to store assets. (Photo: Ngoc Cuong)

Many brokers believe that the recent increase in the number of transactions proves that Hoa Lac real estate has bottomed out.

Having just bought a plot of land of nearly 100 square meters for 26.5 million VND/square meter, Mr. Trinh Van Bon (Hoang Mai, Hanoi) found the land price in Hoa Lac quite attractive. The land price has started to increase slightly compared to 2 months ago. According to him, it seems that the market here has bottomed out.

Mr. Nguyen Thanh Lam, an investor in Thanh Xuan - Hanoi, shared that he had just sold a piece of land for 2 million VND/m2 lower than the purchase price. However, this "loss-cutting" price was 2 million VND/m2 higher than the time the land was frozen.

Find a place to shelter assets before Tet

According to a real estate broker named Nguyen Trung Duc, the number of investors buying and selling land in Hoa Lac increased dramatically in the days leading up to Tet.

"At this time, any piece with a reasonable price will be immediately snapped up," said Mr. Duc.

Explaining this, Mr. Duc said that most investors collected a large amount of money from debt collection at the end of the year. Meanwhile, Hoa Lac real estate has warmed up for more than a month now, so the number of customers paying to buy land has increased significantly.

In addition, bank interest rates are very low, investors are no longer interested in saving. Instead, they withdraw money to invest in land.

Ms. Do Thanh Tam, a real estate broker in Hoa Lac for many years, said that even though the whole North was cold and rainy, with temperatures dropping below 10 degrees Celsius for two weeks before Tet, it did not prevent investors from Phu Tho, Vinh Phuc... from coming to Hoa Lac to find land to invest.

Ms. Tam analyzed that another reason why investors flocked to Hoa Lac real estate before the traditional Tet holiday was to accumulate assets. They are looking to buy land as a safe haven.

However, due to the abundant supply, investors will not accept buying land at any price like at the peak.

Mr. Nguyen Cong Sang, an investor from Phu Tho, said that he had just withdrawn all his bank deposits to invest in real estate. According to him, although the general market is frozen, Hoa Lac land is always a hot spot with great potential for development. There are many universities and many large projects in the future, especially when Hanoi is about to start building Metro Line 05 connecting Van Cao Street to Hoa Lac.

"Hoa Lac land has a lot of potential, medium-term investment will definitely be profitable. The most important thing is to find a reliable place to hide assets when money is very cheap like now," said Mr. Sang.

Should we invest in real estate now to get ahead of the 3 laws coming into effect? ​​Although experts believe that this is the “golden” time to invest in real estate, they note that it is necessary to choose the segment and also need to calculate some other factors to be able to bring about profitability.