Long-term accommodation

In Hanoi and Ho Chi Minh City, five years ago, an apartment priced at 100 million VND/m2 was considered a luxury. But after continuous price increases, this price is now considered "affordable." If housing prices are sky-high while incomes are low, when will those with less income be able to afford a home?

That's a huge question, how can I answer it? House prices are constantly rising, and a major reason is speculation. If half of all real estate transactions are buy-to-sell for profit, prices have to increase. And speculation is rampant because people can avoid taxes. If taxes were heavily applied to owners of second and subsequent properties, or if taxes were high for short-term ownership, the market would change immediately.

- If things continue like this, will buying a house in a big city become 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 finalized. This shows that buyer sentiment has become more optimistic. In the high-end segment, many projects have launched units for sale. But the difference compared to before is the emergence of affordable apartments. These two contrasting trends have caused the average price of apartments to remain stable or increase only slightly.

- Having a stable job and housing are two major things for a secure life. Increased supply and lower housing prices will help the majority of low-income earners have long-term housing.

TU QUEO

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