Explaining the reasons for the gloomy and stagnant real estate market in recent times, economic expert Le Ba Chi Nhan said that the project's legal bottlenecks have led to a shortage of supply. At the same time, controlled credit capital has made it difficult for businesses to access, and customers who want to buy houses also have difficulty accessing preferential financial packages. In addition, the imbalance is because businesses are selling mostly luxury real estate products, while affordable housing and social housing are very few. However, since receiving positive moves in mechanisms and policies from state management agencies, the real estate market has gradually changed, contributing to promoting healthy development again, restoring investor confidence.
Sharing the same view, DKRA Vietnam also believes that the real estate market picture in the Southern region in general, Ho Chi Minh City in particular, will gradually recover and improve in the coming time, not only for large cities like Ho Chi Minh City, but also many other localities across the country have officially joined in, promoting activities to remove difficulties and obstacles for real estate projects in the area, initially achieving certain results when some projects have been basically removed and restarted.
According to data from Batdongsan.com.vn, in the second quarter of 2023, in Ho Chi Minh City, transaction demand gradually recovered well in the apartment and private house types. The number of searches for apartments in Binh Tan, Tan Phu, Binh Chanh districts, Thu Duc City increased by 9%. Particularly for the land segment, in some areas such as Hoc Mon, Binh Chanh, Thu Duc City, the number of searches increased by 7% compared to the end of 2022. Currently, investors are applying many flexible payment policies such as price discounts, payment term extensions and interest rate support to attract buyers.
Proposing a solution to break the "iceberg" of the real estate market, Mr. Le Hoang Chau - Chairman of the Ho Chi Minh City Real Estate Association (HoREA) said that in the past time, the difficult real estate market was related to many issues, but the factor related to the survival of real estate businesses was the confidence of investors. Therefore, businesses need to make efforts to reinvest and restructure products towards developing housing segments to meet real housing needs to revive liquidity. Businesses also need to boldly accept the truth, balance and reduce product prices to recover invested capital, minimize negative capital and lack of liquidity. If real estate businesses survive this period, the opportunity to develop again is inevitable.
Sharing the same view, economist Tran Nguyen Dan said that currently, the real estate market has begun to show signs of improvement, especially when the credit "room" of banks is loosening, interest rates are gradually decreasing, and the stock market is also gradually recovering. If the selling price of real estate products is improved, lending interest rates are reduced, ... then buyers and investors will see the true nature of the real estate market. They will be more satisfied with the money spent to own real estate products, this will also help the real estate market gradually recover and develop more healthily in the future.
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