In the Ghost Month, the real estate market is still bustling

In early July of the lunar calendar this year, Mr. Pham Van Nga - a resident of Dai Kim ward, Hoang Mai district - Hanoi happily announced to his friends that he had just put down money to buy a "million view" apartment right in Dai Kim urban area. According to Mr. Nga, the apartment that he and his wife decided to invest in is among the "beauty queen" apartments in this project.

“ With an area of 105 square meters, a corner apartment with 2 large balconies, 3 bedrooms full of light, and a full red book, this is the apartment my family has been looking for for a long time. However, it is only at this time that someone is selling it. Therefore, although we were a bit hesitant about the Ngau month, we still decided to put down money to buy it, ” said Mr. Nga.

The real estate market in the Ghost Month still has many transactions. (Illustration photo)

According to Mr. Do Van Duong, a real estate sales staff in Hoang Mai district (Hanoi), there are not many apartments with such a beautiful location. “ An apartment project only has a limited number of a few dozen out of hundreds of apartments. So when there is information, many people are immediately interested. If the price is agreed upon and the financial situation is met, the buyer should quickly make a deposit because the opportunity to buy a satisfactory apartment at this stage is not high, ” said Mr. Duong.

Mr. Duong added that since the beginning of the seventh lunar month, he has had two successful transactions, including one apartment transaction and one land transaction. “ These are real estate segments that many people are interested in today because they meet real housing needs. The market may be gloomy in large projects far from the center, but real estate in the city is still being traded quite a lot, ” said this broker.

Ms. Nguyen Van Anh, a real estate broker specializing in urban real estate, also informed that this segment is currently the most traded in the real estate market. Recently, Ms. Van Anh successfully brokered a house on Tuong Mai Street, Hanoi. " The house is newly built, 50m2 area, quite wide alley but the price is only slightly more than 6 billion VND. This price is only available at this time, if it is left until the end of the year, the price will be a few hundred million higher, which is normal ," said the broker.

Having been in the real estate business for many years, Ms. Van Anh knows very well the psychology of customers avoiding the Ghost Month. “ However, this year’s Ghost Month falls right at the bottom of the real estate market. Therefore, for those who are in need of buying a house to live in, they do not hesitate to spend money if they find the right product ,” Ms. Van Anh said.

In the real estate rental sector, during this period, apartments or houses in the city also attracted many transactions. In particular, rental prices in central districts of Hanoi have increased significantly compared to more than 1 year ago. For example, the price of a 100 m2 apartment at the Royal City project (Hanoi) is currently at 18 million VND/month compared to 16 million VND/month 1 year ago. With the same area, an apartment in Time City will cost 20 million VND/month, 2-4 million higher than 1 year ago. With mid-range apartment projects, an apartment with an area of 100 m2 is also being rented at 15 million VND/month compared to 13 million VND/month a year ago.

Meanwhile, the private housing segment in Hanoi continues to maintain price increases. Specifically, private houses in Thanh Xuan district, Nhan Chinh area, Khuong Trung, Thanh Xuan Bac, Thanh Xuan Trung, Thanh Xuan Nam, Khuong Mai, Kim Giang... had selling prices ranging from 3.2 - 3.5 billion VND/unit at the end of last year, but have now increased to 3.3 - 3.7 billion VND/unit.

According to real estate experts, in the third quarter of 2023, the market will begin to show positive signs compared to the first and second quarters. The cooling of bank interest rates and their stable levels will cause cash flow to soon find its way into the real estate sector.

In the late 2023 period, although it may not be possible to generate large-value mining and business cash flows, the market will recover locally in some segments and regions when medium-term investors begin to disburse.

Ganoderma

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