Many new opportunities for Dong Nai real estate market to develop

Many improvements in 2024

The Vietnamese real estate market in general and Dong Nai real estate in particular will face many difficulties and challenges in 2023. However, the first days of 2024 have seen a clear improvement. This is demonstrated by the fact that many transactions have appeared in all segments.

The acceleration of the completion of transport infrastructure and especially the Long Thanh International Airport Project has created many new opportunities for the real estate market in this area to develop.

The demand for real estate is increasing, specifically the number of transactions has shown signs of increasing in the first days of the year, especially in the land and affordable housing segment with proper legal documents, beautiful locations and high potential for price increases.

According to Mr. Nguyen Van Cuong, Head of the Executive Board of the Vietnam Association of Real Estate Brokers (VARS) in Dong Nai, the Dong Nai real estate market in 2024 will be more prosperous and 2024 is also the "golden time" for real estate.

The first and second quarters are considered an opportunity for investors to "catch the bottom", own potential real estate at good prices, and the third quarter of 2024 is when the market will be most prosperous.

According to Mr. Nguyen Van Cuong's prediction, in 2024, people's demand will focus on the land and "affordable" housing segment.

“According to the survey, land prices are at 7-40 million/m2; apartments range from 15-30 million/m2. This price remains the same in many areas, due to meeting real housing needs. Other segments have decreased in price by 10-20% compared to when the market was bustling,” Mr. Cuong shared.

To achieve positive changes for the real estate industry, we must mention the Government's support policies and the State Bank's continuously decreasing interest rates for real estate investment.

This has created conditions for people and businesses to easily access bank capital for business and investment purposes.

Along with that, the State's passing of important laws: Land Law; Real Estate Business Law; Housing Law,... all taking effect on January 1, 2025 is a strong driving force to promote real estate market growth.

Real estate market develops in a fair and stable direction

The acceleration of the completion of traffic infrastructure, especially the Long Thanh International Airport Project; Dong Nai - Vung Tau Expressway; Dau Giay - Phan Thiet Expressway; Dau Giay - Lien Khuong Expressway, etc., has created many new opportunities for the real estate market in this area to develop.

According to Mr. Nguyen Van Cuong's prediction, in 2024, people's demand will focus on the land and "affordable" housing segment.

In addition, Dong Nai province is also enjoying many advantages from the strong shift of investment to the suburbs when the land fund in Ho Chi Minh City is increasingly scarce, the "affordable" housing segment is scarce, beyond the financial capacity of the majority of people.

When the Land Law, Housing Law, and Real Estate Business Law are passed and come into effect on January 1, 2025, many problems will be solved and synchronous obstacles will be removed, and businesses will have a more convenient way to access land. At that time, supply may increase and solve the current housing shortage.

Mr. Nguyen Van Cuong commented: "These changes are correct and positive, contributing significantly to helping the real estate market develop in a fair and stable direction."

In addition, the regulation of collecting annual land use fees will help investors reduce the financial burden in the early stages of project implementation. Thanks to that, the selling price of real estate products also has the opportunity to be adjusted to a more reasonable level. Investors do not have too much financial pressure, and will also have room to invest in completing the project with better quality.

The passing of important laws also demonstrates openness, transparency, and equal opportunity for all.

Through the form of auction and bidding, the "win" will be for experienced businesses, with capacity and history of effective land use, creating a fair competitive environment for real estate businesses.

Source: https://www.nguoiduatin.vn/nhieu-co-hoi-moi-cho-thi-truong-bat-dong-san-dong-nai-phat-trien-a648708.html