According to a recent survey by Batdongsan.com.vn, 70% of people planning to buy a house in the near future plan to use leverage in 2024. However, homebuyers will only borrow when access to capital and interest rates become more attractive. Most are still expecting more interest rate support measures in the near future.
In addition, with many real estate businesses losing the trust of customers in the past, home buyers in the coming time will pay more attention to the reputation of the investor, the professionalism of the broker and the accompanying cost factors.
In this survey, people planning to buy a house in the near future have mentioned a series of factors to consider before making a decision such as financial potential, brand reputation, quality of old projects, preferential policies, handover quality, listed investors, etc. At the same time, factors such as poor construction quality, poor operation in old projects, many projects with legal problems, slow handover progress, negative financial status, etc. can also cause customers to "cross out" investors from their choices.
In the coming period, investors must change to adapt to customer choice trends.
In addition, in the criteria for buying a house, sales policies are also considered important. Especially in the current period, the most popular types such as apartments have not shown any signs of price reduction. Home buyers want to compensate for the costs they have to pay with a series of policies and incentives from investors.
However, this interest is still largely directed towards policies offered by investors with brands in the market. That is the reason, in the midst of many competitive sales policies being simultaneously launched by real estate businesses, only a few projects have good purchasing power.
Although this survey was conducted for the needs of the upcoming period, looking back at the market in the past, it can be seen that projects with reasonable prices, good incentives and branded investors are still chosen by many people. For example, in the Ho Chi Minh City market, some projects such as The Privia, Glory Heights, ... or some projects in neighboring provinces such as Bcons, Legacy Prime, ... all recorded good sales with more than 80% of the product basket consumed.
Projects near Ho Chi Minh City with reasonable prices are also chosen by many investors.
According to Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn in the South, the criteria for buying a house in 2023 are no longer just location, infrastructure, utilities but also brand reputation, sales policy, and after-sales service. To meet the large real demand, the apartment market needs to constantly change flexibly and optimize in approaching buyers. Flexible incentives and sales policies are effective strategies to stimulate demand during difficult times and reach a wider customer base.
Besides a few investors who have sold their products, most other projects have also been launched on the market but the sales progress is still quite slow or they “don’t dare” to open for sale because they are waiting for more signals. This shows that buyers have become more cautious and picky in choosing real estate compared to the previous period.
“After a long period of volatility, they only feel secure when looking for businesses with financial capacity, legality, quality, progress, good policies, etc. This is also an understandable psychology of buyers in the context of volatile real estate, and also creates a good purification for the market in the long term,” said Mr. Tuan.
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