Long term accommodation

In Hanoi and Ho Chi Minh City, 5 years ago, the price of 100 million VND/m2 for an apartment was considered a luxury. But after a period of continuous price increases, this price is now considered "affordable". If housing prices are sky high and incomes are below average, when will low-income earners be able to settle down?

- That's a big question, how can I answer it? The main reason why house prices keep going up is speculation. If half of all real estate transactions are for resale to make a profit, prices must go up. And speculation is rampant because of tax avoidance. If taxes are imposed on second and subsequent property owners, or high taxes if the house is held for a short period of time, the market will change immediately.

- If it keeps going like this, is buying a house in a big city a hopeless dream?

- Nothing lasts forever. Since the beginning of the year, thousands of apartment transactions in Hanoi and Ho Chi Minh City have been closed. That shows that buyers are more optimistic. In the high-end segment, there are many projects launching products for sale. But the difference compared to before is that low-cost apartments have appeared. These two opposite trends have caused the average price of apartments to remain the same or increase slightly.

- Having a stable job and housing are two big things to live a stable life. Increasing supply and cheap housing prices will help the majority of low-income people have long-term housing.

CROSSED WORDS

Source: https://www.sggp.org.vn/cho-o-dai-lau-post803314.html