Rice and fish sauce

Before the start of the new school year, many families in the provinces with university students rushed to the city to look for housing. Even with billions of dong in hand, they were still astonished by the exorbitant prices. Their worries grew even more when they learned that house prices would continue to rise in the future.

Why are housing prices skyrocketing in all parts of our country?

For decades, real estate prices have consistently soared far beyond people's incomes. Each year they jump even higher, inevitably becoming incredibly disparate. In terms of price, real estate currently has the largest gap relative to income. Recently, prices have become even higher due to sharply increased input costs for developers. The scarcity of clean land, rising construction material prices, and stringent fire safety, environmental, and infrastructure requirements mean that housing prices cannot remain stable. Furthermore, legal costs have also increased since the amended Land Law came into effect.

So, hoping for a drop in real estate prices is unrealistic?

- Reality is always the most reliable measure. Hoping for a drop in real estate prices is unlikely. Taking out large, long-term loans to buy a home carries high risks for most people in need. Developers are largely focused on projects with high selling prices. Those looking for housing will have to find affordable rental properties, accepting the situation and making do with what they have.

TU QUEO

Source: https://www.sggp.org.vn/com-va-mam-post813327.html