Apartment prices increased sharply in the first 2 months of the year
According to the latest data from Batdongsan.com.vn, the average selling price of apartments in Hanoi in the first 2 months of this year increased by 17% compared to the same period in 2023.
According to the latest data from Batdongsan.com.vn, the average selling price of apartments in Hanoi in the first 2 months of this year increased by 17% compared to the same period in 2023.
In fact, many buyers, sellers and real estate brokers also commented that apartment prices in Hanoi are "escalating". Many projects have price increases of over 20% after just 1 year.
On the list of apartment projects witnessing a sharp increase in selling prices in Hanoi, Royal City, The Pride, My Dinh Song Da Urban Area - Sudico, Sun Grand City with prices increasing by 33%, Mipec Rubik 360 and Vinhomes West Point increased by 28%, Dai Thanh Apartment increased by 27%, Seasons Avenue increased by 26%, according to Price History data of Batdongsan.com.vn.
Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that Hanoi apartments have not "overpriced" yet, this price increase is partly reflecting the relationship between supply and demand. In Hanoi, supply is not enough to meet demand, leading to the phenomenon of prices still going up.
Meanwhile, in Ho Chi Minh City, apartment listing prices also tend to increase, but the increase is only about 4% over the same period in 2023.
The Ho Chi Minh City apartment market in recent years has witnessed many adjustments, causing the price level to stay at a high level, so the general price in Ho Chi Minh City in the coming time will be flat or not fluctuate too much. .
In Hanoi, Mr. Nguyen Quoc Anh forecasts that apartment prices may continue to increase if demand exceeds the old peak.
The number of people looking to buy apartments in Hanoi increased significantly from the second quarter of 2, peaking in August 2023. After that, the number of people selling apartments was large, causing demand to decrease. However, in December 8, the demand for apartments increased sharply again. By February 2023, it was almost back to the peak of August 12.
Mr. Nguyen Quoc Anh recommended that investors and real estate buyers and sellers need to spend more time observing market developments in the upcoming period, when demand is about to reach the resistance point.
He said: "If the level of interest in apartments in the coming months exceeds the peak of August 8, it could lead to price levels continuing to increase. However, if demand cools down, apartment prices will adjust."
Besides apartments, many other types of real estate also saw increased demand in early 2024 compared to the same period last year. Specifically, searches for private houses increased by 27%, townhouses increased by 15%, villas increased by 12%, and land plots increased by 9%, according to data from Batdongsan.com.vn.
What is the scenario for the real estate market in the near future?
According to the first quarter 1 report of Batdongsan.com.vn with the topic "Startup" will bring 2024 useful contents, to support businesses and individuals doing business, buying and selling real estate with general information, Market updates to make more confident decisions.
Level of interest in real estate in the first 2 months of 2024 compared to the same period in 2023.
Firstly, the report summarizes the macroeconomic situation and growth drivers for the real estate market.
Second, experts will update supply and demand developments, selling/rental prices, and investment yields of prominent real estate types based on Batdongsan.com.vn's big data, thereby making forecasts. and suitable recommendations for investors and buyers.
Third, Batdongsan.com.vn analyzes how changes in the Law will impact the real estate market, investors, business units and consumers.
In particular, Mr. Le Bao Long, Strategy Director of Batdongsan.com.vn commented that with these changes, the market is expected to have widespread growth in prices of many types of real estate, in terms of quantity. quantity and quality of new projects.
Project development standards and capabilities of investors will also be improved because there are many regulations tightening conditions for investors.
Besides, the rights of real estate consumers will be more guaranteed.
