Demand in the real estate market in Hanoi and Ho Chi Minh City is still very large

Although the real estate market in Hanoi and Ho Chi Minh City declined in terms of supply and volume, the absorption rate was still high.

At the announcement meeting on the market situation, which took place on the morning of July 17, in Hanoi, Mr. Nguyen Van Dinh - Chairman of Vietnam Real Estate Brokers Association, housing prices tended to increase slightly but not too hot, the market maintained at a stable level.

Some regions with real estate markets have developed strongly in recent years such as Da Nang, Nha Trang, Quang Ninh, Binh Duong, Dong Nai, etc. also show a slowdown in both new supply and quantity due to the reviewing projects from local governments.

The large demand makes the ability to absorb real estate products in the two big cities good. (Photo).

In most other provinces and cities across the country recorded the development of the real estate market and attracted investors. Mainstream is still the land product line, prices have grown steadily. In the first 6 months of 2019, some emerging real estate markets appeared: Hoa Binh, Yen Bai, Binh Dinh, Phu Yen, Binh Thuan...

Remarkably, the new supply of condotel products (hotel apartments) in the past 6 months was relatively low, the main products from 2018 projects; absorption is only about 25%.

Explaining this, the Vietnam Association of Real Estate Brokers said that the new supply is limited by the slow implementation of project procedures and not many policies to facilitate the development of this product line. On the other hand, customers, investors are not really assured to decide the investment due to the policy as well as the management, operation and exploitation of condotel business. Clients mainly invest in projects of large, reputable and experienced investors in management and business with high efficiency.

Currently, the tightening of capital sources also affects the liquidity of conldotel products because the price of this segment is relatively high but the absorption rate is low.

However, areas with advantages in tourism and convenient transportation systems, especially with air connections such as Phu Quoc, Da Nang, Khanh Hoa, Quang Ninh continue to be evaluated as places where potential for strong development in condotel resort real estate. In addition, some other potential areas such as Thanh Hoa, Quang Binh, Quy Nhon, Phu Yen, Binh Thuan, Vung Tau... are also attracting strong attention from investors across the country.

Vietnam Association of Real Estate Brokers said that in Hanoi market, in the last months of 2019, the supply and sale were expected to increase sharply; The selling price did not change much, fluctuated below 5% and the absorption continued to remain high.

For Ho Chi Minh City market, with a series of positive moves from the government promises strong growth in supply and transaction volume. Absorption rate will also remain high. Prices are expected to increase sharply, so the next step is to stimulate investment activities of retail investors in the last months of the year.

Some areas such as Nha Trang, Da Nang, Quang Ninh... without positive changes from local authorities, the real estate market in the last 6 months of the year will not change compared to the first months of 2019. In general, the market continues to receive more new projects appearing in potential developing areas.

According to Life and the Law