The real estate market report for the first quarter of 2024 recently released by Batdongsan.com.vn shows that the level of interest and transaction volume in the individual housing segment (private houses) has improved. 39% of brokers participating in the survey said that private houses have a stable transaction volume, 17% revealed that private house transactions increased from 10% - 50% in the first quarter of this year.
Compared to the same period in 2023, the demand for buying private houses increased from 3% - 24% depending on the price and focused mostly on the 2 - 4 billion VND segment.
In Hanoi and Ho Chi Minh City, the level of interest in private houses has improved significantly in suburban districts. Specifically, the number of searches for private houses in districts outside the center of Hanoi such as Nam Tu Liem, Hoang Mai, Dong Da increased from 26% - 43%. Binh Thanh, Thu Duc, Tan Binh districts of Ho Chi Minh City also witnessed an increase in demand for private houses from 10% - 14%.
Chart of interest level of private home customers in Ho Chi Minh City and Hanoi
In the land segment, Batdongsan.com.vn's big data shows that the market has begun to "thaw". The level of interest in land in the last two quarters of 2023 only reached 44% of the demand in the hot period of 2021, but by the first quarter of 2024 it had increased to 48%.
In the North, the demand for buying land increased sharply in some suburban districts of Hanoi, such as Dong Anh, Long Bien, and Hoai Duc, increasing from 1.7 to 2 times compared to the first quarter of 2023.
In the South, compared to the first quarter of 2023, the current demand for land in District 12, Thu Duc City, Hoc Mon District... increased from 13% - 25%. In terms of price level, the Southern region has a 3% decrease compared to the same period last year, but the North increased by 25% and the Central region increased by 4%.
Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn, said that land shows that the "king of investment channels" is returning and the land segment under 2 billion VND is of most interest.
"From the end of 2023 to the beginning of this year, the market has seen more and more "shark" investment groups hunting for large quantities of land. When demand increases more clearly, prices will increase," said Mr. Tuan.
According to Mr. Tuan, the recovery of the land market is driven by three driving forces. First is the cyclical nature of the land market; in March, the demand for land often increases. Second, land prices have been adjusted in some areas, causing investors to consider participating. Specifically, many southern provinces such as Ba Ria - Vung Tau , Long An, Lam Dong, Dong Nai have seen the current land price level decrease by 12% - 19% compared to the beginning of 2023. Third, the wave of anticipating changes in the three new Laws that will take effect from 2025.
"The tightening of regulations on land subdivision is a hot spot. It is predicted that the supply of subdivided land will decrease sharply after 2025, but demand is unlikely to decrease in the long term because Vietnamese people still favor this type of land. When supply is low and demand is high, land prices will increase. Many investors want to grasp this trend and start looking for land before the new law is applied," said Mr. Dinh Minh Tuan.
Source: https://nld.com.vn/thi-truong-dat-nen-da-bat-dau-ra-bang-196240403133849271.htm
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