Is the end of 2023 a good time to buy a house?

Many positive factors for the market.

According to the Vietnam Real Estate Consumer Sentiment Report (CSS) for the second half of 2023, conducted by Batdongsan.com.vn, 61% of people still want to buy real estate within the next year, indicating that demand continues to increase.

Another study by Savills points out a significant figure: from 2023 to 2025, the city will have an additional 157,000 households. However, the future supply includes 59,000 apartments (of all categories), 9,000 low-rise houses, and 18,700 social housing units expected to be launched; therefore, there is still a shortage of 70,300 housing units.

The real estate market is becoming more vibrant, driven by macroeconomic policies and preferential sales policies from developers.

The supply-demand imbalance in the housing market is becoming increasingly pronounced, with many hoping to buy a home now before prices continue to rise. However, amidst the global economic downturn, incomes are affected, and customers are facing concerns about financing and ensuring efficient cash flow.

Speaking at the "Conference to assess the situation and resolve difficulties for the real estate market," Mr. Dao Minh Tu, Deputy Governor of the State Bank of Vietnam, said that the State Bank of Vietnam had continuously adjusted down the policy interest rates four times in the first six months of the year, with reductions of 0.5-2.0% per year for various types of rates, in the context of continuously rising and persistently high global interest rates.

This allows credit institutions to access capital from the State Bank of Vietnam at a lower cost, thereby enabling them to reduce lending interest rates to support customers. In addition, many banks also offer preferential loans to help customers reduce financial pressure when choosing a place to live.

Good policies offer many benefits to homebuyers.

However, the current situation requires not only government policies to remove obstacles but also additional incentive policies from investors to help the real estate market recover.

Many developers have aggressively launched major stimulus policies such as direct discounts on selling prices and support for loan disbursement with 0% interest for a certain period. These activities have truly brought positive results in terms of project liquidity, bringing the real estate market back to life.

Notably, recent projects such as Masteri Waterfront (in the heart of Ocean Park 1) and Masteri West Heights (in the heart of Smart City), developed by Masterise Homes, stand out with their attractive sales policies, catering to both residential and investment purposes.

With a policy called "The Heart of Living - Experiencing the Value of Life," the investor has offered various payment options to suit individual financial plans. Accordingly, customers only need to pay a maximum of 30% of the apartment value to receive the apartment immediately for living or renting out in 2023.

Simultaneously, customers also benefit from the "Homeownership Payment" policy with only 5% per quarter for 3 years. The remaining apartment value will be divided into several small installments, each installment being only 5% of the apartment value. The time between installments is 3 months and no later than September 2026 (subject to conditions as per sales policy).

With the policy "The Heart of Living - Experiencing the Value of Life," customers only need to pay 30% to receive their apartment immediately for living or renting out in 2023. (Image: Masteri West Heights project).

Customers also benefit from the "Homeownership Payment" policy, paying only 5% per quarter for 3 years. (Image: Masteri Waterfront project)

At Masteri Waterfront or Masteri West Heights, apartments are delivered to high-end standards and professionally managed by Masterise Property Management - a member of Masterise Group. Therefore, owners can immediately rent out their apartments, contributing to increased profits. Alternatively, apartment owners can immediately rent them out for 10-16 million VND/month, providing a stable income stream during challenging economic times.

For customers with limited savings, they can choose to borrow 50% or 80% of the apartment value from the bank (subject to conditions) and receive 0% interest rate support from the developer for the committed period. With current average interest rates of 9-10%, the interest-free period of up to 2 years can help homebuyers save between 400 and 600 million VND.

Overall, the current situation is considered favorable in terms of prices, interest rates, and preferential policies to support customers. In addition, the proactive and flexible adaptation of developers to the constantly changing market also contributes to a healthier development of the real estate market in the future.

Bao Anh

Source: https://vtc.vn/cuoi-nam-2023-co-phai-thoi-diem-tot-de-mua-nha-ar833789.html