DNVN - According to Ms. Nguyen Hoai An - Senior Director of CBRE Vietnam, the new real estate supply in Hanoi for sale from 55 thousand products from now until 2026 will be distributed mainly towards Ring Road 3. At the same time, it will expand to the Northeast and West of the city, outside Ring Road 3.
Vietnam's real estate market is facing turning points when the Land Law, Real Estate Business Law and Housing Law (amended) will officially take effect from August 1. These are important, fundamental laws that will reshape the legal framework for the real estate market in the coming time.
Along with that, the Government has made continuous efforts to remove difficulties and support the real estate market.
However, in addition to support policies, the real estate market also has to face fluctuations in the macro economy and domestic and foreign financial and monetary markets, creating a new context for real estate investment activities.
Making a forecast about the real estate market in the coming time at the seminar "Focus on real estate investment in the new context", Ms. Nguyen Hoai An - Senior Director of CBRE Vietnam said that, along with the impacts of new laws taking effect from August 1, the fact that savings interest rates and lending interest rates in the past 1-2 months are increasing will put pressure on the last months of 2024 as well as the beginning of 2025.
In addition, the consumer confidence index has not really recovered after the 2022-2023 period and even in the next 6-9 months, the forecast situation has not improved significantly. Meanwhile, bonds have been more stable compared to 2022-2023, but the ability to access capital of real estate businesses still has to wait for more time to have more positive expectations.
Monitoring real estate developments in major markets such as Ho Chi Minh City and Hanoi shows that the supply of apartments has slowed down in recent years due to licensing issues. In the first 6 months of this year, the most notable point is that the supply has been quite abundant.
Accordingly, the new supply launched in Hanoi is equal to the whole year of 2023. Therefore, it can be expected that the new supply in Hanoi in 2024 will double that of last year.
Meanwhile, the apartment products in Ho Chi Minh City have not seen any new developments, as the problem of supply shortage continues to occur. Therefore, the market's attention is being paid to places with more new supply sources such as the Northern region and Hanoi.
The supply of apartment segment in Hanoi is mainly concentrated in the mid-range and high-end segments. The proportion of products in the high-end segment reflects the new price level of the market is increasing, especially in the high-end price. About 70% of apartments for sale in the first half of 2024 are concentrated in the high-end segment and fall in the price range of 60-120 million VND/m2.
“With the above supply, especially the abundant new supply in the Hanoi area, we can imagine the purchasing power of the market. Macroeconomic factors are supporting investment in the apartment segment,” said Ms. An.
According to Ms. An, the number of apartments sold in Hanoi in the first 6 months of 2024 has exceeded the figure for the whole year of 2023. Some outstanding new projects opened for sale in the second quarter in Hai Duong, Hai Phong, and Binh Duong are reflecting the trend of real estate increasingly expanding beyond the scope of big cities.
In terms of prospects, in the future, the supply of apartments in Hanoi will be relatively abundant. Next, the supply of land (real estate attached to land) is expected to improve, when large urban area projects are opened for sale in the near future.
“Our statistics show that from now until 2026, Hanoi will receive about 55 thousand high-rise and low-rise housing products, while this number in Ho Chi Minh City is only 35 thousand. This shows that new supply will continue to be concentrated in Hanoi, while in Ho Chi Minh City, supply will spread to neighboring localities and will not be abundant in the city.
The new real estate supply in Hanoi for sale from 55 thousand products from now until 2026 will be distributed towards Ring Road 3. Expanding to the Northeast and West of the city, outside Ring Road 3", said the Senior Director of CBRE Vietnam.
It is forecasted that the supply of apartment and land-attached real estate in Hanoi will continue to increase and improve from now until 2026. Prices for both the primary and secondary markets of Hanoi apartments will continue to rise.
This price growth rate is about 20%/year - an unprecedented figure. From 2026, this growth rate may stabilize, when a new price level has been created.
Ha Anh
Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/nguon-cung-bat-dong-san-moi-tai-ha-noi-phan-bo-theo-huong-nao/20240731084433090
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