According to data from Batdongsan.com.vn, in the first two months of 2024, the Khanh Hoa real estate market continued to be quiet, with very few transactions because the previously bustling products were mainly land plots. However, along with the general upturn, in March 2024, the number of listings and interest in Khanh Hoa real estate increased sharply.
Compared to February, the level of interest and the number of listings increased by 67% and 60% respectively. Search demand has recovered strongly after the Tet holiday month when the number of interests increased steadily in all locations. Areas that attract investors such as Cam Lam and Van Ninh had the strongest increase in search volume, reaching 121% and 104% respectively. The remaining localities also recorded an increase in interest from 46-80%.
However, that increase only lasted for 1 month, because as soon as April 2024 came, the heat of this market began to decrease slightly in most areas. The two areas that recorded the sharpest decrease in interest in buying were Cam Lam and Khanh Son with a decrease of about 28%. By type, apartments had the sharpest decrease in interest in buying with 11%, followed by townhouses with 10%. Meanwhile, land and residential land only decreased by about 4% and private houses decreased by 2%.
Interest level and number of listings in Khanh Hoa market in April 2024 (Photo: Batdongsan.com.vn)
In contrast to the search demand, the number of real estate listings in Khanh Hoa still increased by about 6% compared to the previous month. The types with the strongest increase were single-family homes and townhouses with increases of 15% and 14% respectively. The number of listings for apartments decreased by about 8%, mainly due to the lack of primary supply for sale.
Notably, while in March, the Khanh Hoa street-front house type recorded a breakthrough in the level of interest when it increased by 76% compared to February, in April, the search demand decreased by 10%. Land plots and project land also slightly decreased in searches from 4-6%.
In the rental market, the number of searches for rental properties in Khanh Hoa in April 2024 decreased sharply in most types. Of which, street-front houses decreased the most with 16%, followed by boarding houses, apartments and shops, kiosks decreased by 13%, 12% and 11% respectively. The number of rental listings also decreased in many types, the strongest was boarding houses with 14%. In particular, the number of listings for rental villas increased by 14%.
Regarding the supply situation, information about upcoming projects in Khanh Hoa is of great interest, but the market has not recorded any new projects in the beginning of this year. The products being sold are mainly in the old open sale basket.
Khanh Hoa is still a potential market in the long term.
Despite the decline in the first month of the new quarter, compared to February and the end of the year, the Khanh Hoa real estate market is still stable. Notably, according to information from the Department of Construction of Khanh Hoa province, in the first quarter of 2024, the value of real estate transactions in Khanh Hoa reached 7,630 billion VND. Of which, 5,941 real estate transactions were recorded, with 4,537 land transactions; 1,193 individual housing transactions; 211 apartment transactions.
Many experts believe that Khanh Hoa is still a potential market in the long term, especially in the suburban areas, which have not been affected much by land fever. In addition, the province has continuously approved investment policies for large-scale urban projects such as the Tu Bong High-end New Urban Area Project with a total area of over 2,581 hectares and the Dam Mon High-end New Urban Area Project with a total area of nearly 1,442 hectares. Thereby, Khanh Hoa has created more development momentum with abundant supply in the near future.
Source: https://www.congluan.vn/thi-truong-bat-dong-san-khanh-hoa-sut-giam-luc-cau-khi-buoc-vao-quy-ii-2024-post296297.html
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