National data necessary for control of land prices
Whenever the State indicates an interest in a new infrastructure project in an urban area, the real estate
According to Dr. Nguyen Van Dinh, Chairman of the Vietnam Association of Real Estate Brokers (VARS), more investors have begun "hunting" for land on the outskirts of big cities and localities. The area has strong infrastructure development and a high urbanization rate, with prices considered to be quite "bargain" and much room for growth in the future. However, the real estate market is still in a gloomy state. , but in recent times, some areas are still sought after by investors, as shown by the marked improvement in interest and transactions. These are areas with strong infrastructure development and high urbanization rates.
According to October 2023, data from Batdongsan.com.vn, the demand for real estate in Long An shows positive developments, with many types of interest growing well.
Specifically, the number of searches for apartments in Long An increased by 13% in October; Demand for land increased by 10%; Townhouse villa demand increased by 3%; Demand for private homes increased by 6%,...
Also, according to this report, Duc Hoa and Ben Luc are the two markets most interested in by real estate investors in Long An. In particular, the number of people looking to buy real estate in Duc Hoa is leading, far surpassing other markets and continuing to grow nearly 12% compared to the previous month. Among them, types of land and residential land priced from 1-2 billion VND receive much attention.
In addition, Ben Luc district also recorded a 15% increase in purchasing demand compared to the previous month, mainly focusing on apartments and land under 2 billion VND because this is a rare market with apartment projects. High-rise buildings are open for sale.
This report also shows that some other localities of Long An province also recorded an increase in real estate interest, such as Tan Tru (up 26%), Can Duoc (up 15.7%) and Tan An (up 15%). However, the real estate search rate in the above areas is quite low compared to Long An's other two "hot" localities.
Besides, recently, in Long An, a series of real estate "giants" such as Vinhomes, Ecopark, and Eurowindow also came to invest in projects.
Also, according to data from Batdongsan.com.vn, in October 2023, searches for Dong Nai apartments increased by 14% compared to the previous month, despite the supply for sale in this segment decreasing by 13%. Similarly, interest in buying land in Dong Nai increased by 17%, project land increased by 5.8%, Dong Nai private houses increased by more than 30%, and street-front houses increased by 5.3% in searches compared to the previous month.
Even the segment that has been "quiet" in Dong Nai recently, the townhouse villas, also had a slight increase in search demand of 2%. Regarding region, the level of interest in real estate tends to increase in all districts. The strongest increase is in the Long Khanh district. Accordingly, the demand for real estate in Bien Hoa increased by 21%, Nhon Trach increased by 10%, Long Thanh increased by 18.5%, Vinh Cuu increased by 16.6%, Dinh Quan increased by 12.7%, and Long Khanh increased nearly 26.8% compared to last month.
According to DKRA, land consumption in Ho Chi Minh City and surrounding areas in October 2023 reached 29 plots, an increase of 4.8 times compared to the previous month. As for the townhouse/villa segment, consumption increased 3.3 times compared to September, reaching 10 units in Dong Nai province. In Da Nang and surrounding areas, consumption in the month reached 24 plots, up 30% over the same period last year, focusing mainly on product groups with an average price of 51 million VND/m2.
According to Mr. Hoang Hai, Director of the Department of Housing and Real Estate Market Management - Ministry of Construction, in recent times, efforts from many sides (the Government, ministries, banking systems, real estate businesses themselves) real estate, brokerage...) has actively contributed to "keeping" the real estate market. Although the market does not have enough strength to "overcome the slope", it has escaped the risk of "losing the brakes" and is regaining momentum. In addition, mechanisms and policies to promote the market have begun to show signs of being absorbed. The number of transactions across the market gradually increases over time.
The market began to appear more bright spots in the overall picture of the market. These are localities with developed economies that are interested in and focused on promoting investment in infrastructure and transportation, with many supply sources suitable to needs, such as Hanoi, Hai Phong, Lao Cai, Da Nang, and Ho Chi Minh City…
According to Dr. Nguyen Van Dinh, Chairman of the Vietnam Association of Real Estate Brokers (VARS), more investors have begun "hunting" for land on the outskirts of big cities and localities. The area has strong infrastructure development and a high urbanization rate, with prices considered quite a "bargain" and much room for growth in the future. In addition, the need to buy land as an asset is still popular with investors and continues to be the top chosen segment.
"The real estate market in the fourth quarter will continue its recovery trend with clearly improved transaction results compared to the previous three quarters due to strengthened investor confidence, reduced interest rates, and more suitable supply," Mr. Dinh said.
