Currently, the number of people in big cities is increasing, leading to the need to find housing more and more. However, the increase in real estate in big cities over the years has made it more and more difficult for people to access housing.
In 2020, the impact of epidemics and a number of other reasons make the market economy quiet, and the real estate market is no exception. Facing many challenges and impacts, real estate prices in many parts of the country are still very high.
According to DKRA, in the HCMC market, in the second quarter, the land plot segment had 3 projects launched to the market, providing about 193 grounds, up 10% from the new supply in Q1 / 2020, equal to 66 % in the same period in 2019. The rate of new supply consumption reached 53%, equaling 73% compared to the first quarter and equaling 39% over the same period last year.
Real estate prices soar despite the Covid-19 impact
The Ministry of Construction also has its own assessment of the fluctuation of the housing price index. Statistics show that, the ground does not have much fluctuation, apartment prices, individual houses on the market increased slightly compared to the end of 2019.
In the HCMC market, apartment prices increased by about 3.5% over the same period last year. All three segments recorded an increase in prices, as follows: the high-end apartment segment increased by about 2.75%; Mid-end apartments prices increased by about 3.72%; In particular, the price of affordable apartments increased by about 3.78%. In addition, individual housing also increased by about 8.36% over the same period in 2019.
For the Hanoi market, apartment prices in the first quarter increased by about 1.02% over the same period last year. In particular, the segment of high-end apartments decreased by 0.21%, mid-end apartments increased by about 1.57% and affordable apartments increased by about 2.51%. As for individual houses, prices increased by about 3.82% over the same period in 2019.
Some real estate companies also have reports that apartment prices in many major cities are still high. In some places, 5 - 10% reduction is only local and not representative of the whole market.
High-end, mid-end, affordable apartments and private houses
SSI Securities Joint Stock Company forecasts that residential real estate prices in Ho Chi Minh City will increase by 7 - 10%, in Hanoi by 2-3% in 2020. By 2021, prices will continue to increase in two markets respectively 5 - 7% and 1 - 2%.
Through real estate prices in District 2, Binh Trung Dong ward has prices from 70 - 140 million VND / m2 for road surface land and 50 - 90 million VND / m2 in the alley. In An Phu ward, the price ranges from 130 - 160 million VND / m2 of frontage land and 50 - 90 million VND / m2 in the alley. Similarly, in Thao Dien ward, the price is from 180 - 245 million VND / m2 for a front house and 120 - 170 million VND / m2 of house in the alley...
Sharing with the press, Dr. Dinh The Hien said that in Vietnam, it is very difficult to have a wave of real estate sell-off like foreign countries, even during an epidemic. In the 2008 - 2012 period, housing prices fell by 30-40%, partly due to the tightening credit policy of the state. The lending interest rate at that time was up to 24 - 27% / year, causing borrowers to speculate and surf real estate bankrupt because of the insolvency.
"Currently, interest rates are at a low level of about 10-12% / year, which is an advantage that helps borrowers to buy houses to live, borrowers to buy houses to invest in can also withstand despite the difficult market. Real estate prices are falling but depending on the market, such as real estate in Da Nang fell quite sharply due to falling tourism.In Ho Chi Minh City, District 2, District 9, Thu Duc District real estate prices still increase due to expectations of lower development ... ", Dr. Dinh The Hien said.
Sources: Que Son/Dantri.com.vn
