The leading market is promising with ample supply
Overall assessment of the 2018 real estate market picture, Mr. Do Viet Chien, General Secretary of Vietnam Real Estate Association (VNREA) said, the 2018 real estate market still basically maintained stable development, market segments and products had a more rational restructuring.
This is reflected in the statistics from VNREA, the total supply of real estate for apartments and houses attached to land in the first 9 months of the country is over 100,000 products, an increase of nearly 20,000 products when compared to the whole year of 2017. In which, the amount of apartment housing products still accounts for the majority and the main supply is still in the two big markets of Hanoi and Ho Chi Minh City.
Besides, the total amount of residential real estate transactions in the first 9 months of 2018 reached 50,756 products. Particularly in the third quarter of 2018, there were 16,832 products (absorption rate reached 60%), equal to 95% compared to the second quarter of 2018, 17,634 transactions. The second quarter increased by 1,344 transactions compared to the total volume of transactions in the first quarter of 2018 of 16,290 transactions, equivalent to an increase of 8.3%.
Mr. Do Viet Chien said: “Although the number of transactions in the third quarter decreased when compared to the second quarter, this is still a good number of the third quarter real estate market. Because usually every year, the third quarter has the month of the month and the beginning of the school year so it often has a low absorption rate. In general, Vietnam's real estate market in the first 9 months of 2018 still shows a beautiful color with quite impressive numbers of both supply and demand.
In particular, the two leading markets of Hanoi and Ho Chi Minh City are quite stable and the prospect of plentiful and abundant supply, especially the supply of apartment buildings (in Hanoi is 25,574 products, in Ho Chi Minh City). HCM City is 34,092 products). The number of apartment house transactions in Hanoi is impressive with 18,265 products, an increase of more than 30% compared to the first 9 months of 2017. In Ho Chi Minh City and the Southern region, the total amount of apartment transactions reached 22,911 products, absorption rate reached 67.2%. Especially in super high-end segment in Ho Chi Minh City, absorption rate is approximately 100%.
The General Secretary of the Vietnam Real Estate Association (VNREA) also said: “With the increasing demand for real estate use, it clearly shows signs of sustainable market and development. Evidently, it is clear that these two big cities are rarely re-selling activities of secondary investors and speculators. Property prices in these two areas are generally stable, absorption rates are relatively high. In addition, home buyers are largely from real demand showing no manifestation of virtual markets or real estate bubbles. Accordingly, Mr. Chien predicts that in the fourth quarter of 2018, Vietnam's economy is expected to continue to be stable and grow well. In particular, FDI capital may be poured into Vietnam better, because investors are withdrawing from the Chinese market due to concerns about the US-China trade war. Moreover, the fourth quarter of 2018 was also the time when Vietnam received the strongest remittance capital in the year. While the correlation of investment forms such as securities, gold, foreign currencies, bank deposits, etc., real estate is still a good investment channel.
Therefore, in the fourth quarter of 2018, the real estate market continues to offer a variety of products. Accordingly, the real estate market nationwide will receive a lot of new goods from development projects across the country. Simultaneously, the volume of transactions is also expected to increase the most in the year and more than in the fourth quarter of 2017.
Provincial real estate is not "inferior"
Compared to Hanoi and Ho Chi Minh City, real estate in the provinces is also not inferior to investment attraction, especially the infrastructure projects that have been formed are the potential for the real estate market and if knowing how to seize the opportunity of the investor will succeed.
“The real estate market is no longer the monopoly of big cities like Hanoi, Ho Chi Minh City, Da Nang and Nha Trang, so secondary investors, speculators and even houses. Small and medium-sized real estate development investment has shifted operations to new markets in the provinces across the country which are more attractive due to the price and investment incentives and especially the strong investment of the state in urban transport infrastructure systems such as Thai Nguyen, Bac Ninh, Quang Ninh, Thanh Hoa, Quang Binh, Dong Nai, Binh Duong, etc., and this even spreads to remote areas like the Central Highlands and the Northwest,... These people have really changed and made the real estate market exciting in these new areas” - Mr. Do Viet Chien said.
Talking about the real estate market in the planned areas to the special zone, Mr. Chien also said that the National Assembly event stopped through the Law on Economic Administrative Unit, especially considered an opportunity to screen investors, Market screening, helping the real estate business environment in the projected areas to be more professional.
According to An Vu/reatimes.vn