The slowdown of the southern real estate market has made many businesses difficult, even closed, but according to experts, this is an opportunity to screen and help the market become more and more professional.
After each round of screening, the investors do business honestly, the reputation is more stable and developed
The market is in a correction phase
After a long period of hot rise, especially for suburban areas, the southern real estate market has recently seen a fairly sharp slowdown. As noted by the report of Real Estate Investment Newspaper, the earlier the hotter areas are, the stronger the drop in liquidity and price is.
A few months ago, Long Khanh (Dong Nai province) suddenly witnessed an incredible hot status of land. In just a short period of time, the price of land here was doubled or even tripled because of Long Khanh's official information on the city.
There have been many people from farmers becoming billionaires by selling land, and many investors have followed this craze for the purpose of surfing. However, according to the report of Real Estate Investment Newspaper, up to now, although the sale of real estate in Long Khanh has increased sharply, the selling price is also adjusted day by day, but the liquidity is almost no.
Similarly, in some areas in Binh Thuan province, especially the areas "relying on" big projects, a few months ago, there was a rush of investors hunting for agricultural land and land for planting trees, which is now in a fairly quiet state. Mr. Binh, an investor in La Gi town (Binh Thuan province), said that during the last 1 month, the land transaction situation in La Gi has decreased significantly, but the price has not decreased much due to landlords still advertise at a high price, while buyers mainly survey.
According to Mr. Binh, the adjustment of the La Gi market is indispensable, because over the past time, La Gi land has increased excessively, only in the last 1 year, the price of perennial crop land in La Gi has doubled, even in some places tripled.
“In the immediate future, the market has not occurred the situation of deep discount, but in the long run, with bank borrowers to "hold" the land but cannot sell, it is likely that they will have to reduce prices to sell goods. Therefore, it is likely that in the coming time, the price of La Gi land will have an adjustment phase”, Mr. Binh said.
Not only the above areas, according to the report of Real Estate Investment Journalist in many other coastal areas such as Long An, Binh Phuoc, Bao Loc (Lam Dong), Dong Nai,... are also entering the stage. However, only areas with speculative fever, those in well-planned and legal areas clearly still attract buyers.
According to experts' analysis, the adjustment of the market is inevitable. By last time, many areas increased unreasonably, partly because of speculators, "stork" land use price manipulation. It can be seen that, over the past time, the market has constantly appeared the status of selling "virtual" projects, projects that have not had legal yet, prompting authorities to issue warnings. Localities such as Dong Nai, Ba Ria - Vung Tau, Binh Thuan,... witnessed the "whirlwind" of a series of real estate businesses sawing agricultural land, land for planting perennial trees to sell lots on the ground.
In Dong Nai or Ba Ria - Vung Tau, the name of Alibaba Real Estate Joint Stock Company became an obsession of the market, when dozens of "projects" were launched by this business, raising hundreds of billions of dong from customers, but so far, according to the authorities, no project has been recognized in practice.
Local authorities have warned and even enforced illegal projects and the Ministry of Public Security has been involved in investigating activities and companies related to this company. Recently, the Government Office also issued a dispatch to convey the direction of the Standing Deputy Prime Minister Truong Hoa Binh, assigned the Ministry of Public Security to verify and clarify the contents of the press reflecting on the joint stock company related to Real Estate Alibaba.
Talking to reporters of Real Estate Investment Newspaper, representatives of many real estate investment and business enterprises, said that it is the recent chaos of some dishonest enterprises such as "The worm makes the soup sad", seriously affecting the market in general. In particular, the biggest impact is that the implementation of the general legal progress of most projects is almost congested due to very conservative authorities, even though there are projects that are eligible for approved but still yoke.
According to the report of Real Estate Investment Newspaper, although the market has just "sneezed, runny nose", many businesses are seriously ill. Many real estate businesses, which had no sales source, laid off a series of employees, and some of the newly established brokerage firms were closed.
Many views are concerned that the market will fall into crisis. But there is also the view that the correction of the market today is necessary to establish a true "game" of professionalism.
Mr. Duong Minh Tien, General Director of Asia New Time Company said that, basically, the real estate market has a huge development potential, especially localities in the southern economic quadrangle such as Dong Nai, Binh Duong, Ba Ria - Vung Tau, Long An. Because these are the local "backyards" of Ho Chi Minh City in the trend of population relaxation and are experiencing rapid urbanization.
“In the future, these areas will form new dynamic core centers, especially in areas that have strong infrastructure development policies such as Long Thanh (Dong Nai) or Ba Ria. (Ba Ria - Vung Tau), Binh Duong, the demand for services and housing is extremely large", said Mr. Tien.
However, according to Mr. Tien, although there is great room for development in the future, the current market also faces many challenges. In addition to challenging trust in the market, the competition has been worn down, competition has been increasingly fierce among businesses, the supply has been scarce, and the banking capital has been tightened.
“This is a period of time when the market has drowned out drastically. Enterprises that want to survive in the market require real professionalism in the way of thinking about how to do it”, Mr. Tien shared.
Sharing the same view, Mr. Ngo Duc Son, Deputy General Director of DRH Holdings also said that the real estate market still has a lot of room for development. However, in the coming time, not every segment will develop, but this development will be selective and require high professionalism of investors. In particular, product legal and corporate reputation will be the top two factors that determine the development of the business or leave the game.
Having a more cautious view, Mr. Le Hoang Chau, Chairman of Ho Chi Minh City Real Estate Association, said that the real estate market has many potential risk factors that all participants in the market must have to be sober in order to have the right solutions. Investors should pay more attention to the market segment of small and medium-sized apartments, with affordable price, suitable to the needs and solvency of middle-income and low-income urban people. Homebuyers need to choose reputable investors, brands, projects with all legal factors to buy.
According to Tang Trien