Many investors start to 'release products' in the last period of the year

Many projects open for sale at the end of the year

According to the Vietnam Association of Realtors (VARS), in the last quarter of 2023, many large-scale projects across the country began to launch on the market with many different product lines. Thereby, the supply, which was originally quite limited, was significantly improved, creating conditions to promote market recovery.

Specifically, in the North, there will be a series of new projects opened for sale, especially in the apartment type, suitable for the actual needs of the market such as The Moonlight 1 An Lac, The Canopy Residences, Rose Town Ngoc Hoi... Besides, low-rise types are not far behind when many new projects are also bustling to the market such as Aquarius Hung Yen, Sapa City Clouds Lao Cai, Danko Center...

In the Central region, some newly opened projects also "warmed up" the market after a long period of silence such as Eco Central Park (Vinh), The Panorama 2 (Da Nang), The Sailing (Quy Nhon), The 5Way Phu Quoc, Meypearl Harmony (Phu Quoc), Regal Legend Quang Binh...

Many real estate investors are starting to stock up to take advantage of the year-end winter boom, picture 1 — Many projects open for sale at the end of the year to await the excitement of this period.

Meanwhile, in the southern market, concentrated in Ho Chi Minh City and neighboring provinces, supply was also massively supplemented in the final period of the year. Notably, most of the projects launched during this period were in the apartment type, including many mid-range apartment projects suitable for customers' budgets.

Specifically, newly launched or next phase development projects in Ho Chi Minh City can be mentioned in the current phase such as Glory Heights (District 9), Mastery Centre Point (District 9), The Global City (Thu Duc City), The Privia (Binh Tan District)... In neighboring provinces, projects such as Fiato City, Eco Village Saigon River (Dong Nai), Bcons Polaris, Astral City (Binh Duong)...

Many real estate investors are starting to stock up to take advantage of the year-end winter boom, picture 2. — Many projects are also being accelerated to welcome the new development cycle.

Notably, unlike previous quarters, since the above projects were launched in the late third quarter and early fourth quarter of 2023, they have received a lot of attention from customers and investors. Some projects in markets that have not yet "warmed up" like Phu Quoc still recorded a high number of deposits exceeding the expected quantity of goods for sale.

This shows that the attractiveness of the real estate market has shown signs of significant recovery, especially for types of housing that serve real housing needs at affordable prices. According to VARS, housing supply will gradually improve, expected to reach over 30,000 products in the fourth quarter. The selling price of the mid-range segment is on a slight increase, the price of the high-end segment is trending sideways but will be "easier to breathe" thanks to preferential policies from investors.

Many investors offer incentives to speed up recovery

Along with boosting supply at the end of the year, investors also introduced many strong incentive policies to create a breakthrough in liquidity to promote the market to "roll" into a new cycle soon.

In particular, the unique policies and incentives mostly serve customers who have real housing needs. Specifically, customers can pay 20-25% to receive the house and move in, the remaining amount will be paid gradually over a certain period of time depending on financial capacity and payment options. Some investors with strong financial resources also support customers with 0% interest rate loan packages, 18-24 months or fixed interest rates equal to current savings interest rates.

In addition, some investors developing projects in the next phase also want to sell quickly when applying double incentives, in addition to interest support and grace period, there are also discounts and gifts from 10-17% of the contract value. Thereby creating conditions for home buyers with monthly payments of only 7-10 million VND/month depending on area and location.

Many real estate investors are starting to stock up to take advantage of the year-end winter market, picture 3. — Preferential policies also make many real estate investors willing to "go shopping" more.

According to Ms. Duong Thuy Dung, Managing Director of CBRE Vietnam, in the last 3 months of the year, Ho Chi Minh City is expected to welcome more than 3,000 apartments and 85 ready-built townhouses. The amount of new supply is still limited, but liquidity is likely to be better with the support of interest rates as well as the more positive home buying psychology at the end of the year.

In addition, investors are focusing all their efforts on the year-end market. To compete and attract buyers in a market that is forecasted to have a long and difficult road ahead, payment incentives and applying real estate prices suitable to the purchasing power of the general market will be prioritized at this time.

According to Mr. Nguyen Van Dinh, Chairman of VARS, investors who launch products during this time will not set prices too high to sell their products. Increasing discounts at a level equivalent to the cost of borrowing from banks to reduce home prices for customers is a smart solution to help businesses rescue themselves in the context of capital congestion, while buyers have more opportunities to access housing when actual prices decrease.

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