"After the market crash in mid-2022, I now have the feeling of winning wherever I buy, especially real estate stocks," said Ms. Ngoc.
During the first months of the year, she only invested in banking and retail stocks because she wanted to accumulate stable assets. However, her investment appetite gradually changed from May, when many real estate stocks started to increase and brokers continuously recommended the prospects of this group.
VHM was the first stock she added to her portfolio at VND65,000. She initially planned to close the profit at around VND88,000, but now she has not sold all of it even though the hot increase has raised the price to VND94,000. "The market is good so I only sold half of it, the rest is still because I want to wait for it to increase further. If the market shows signs of reversal, I will close it quickly," Ms. Ngoc said.
This investor admits that her risk tolerance is getting higher and higher. After a heavy loss with PDR 3 years ago, she returned to buy this stock when she heard about a big M&A deal. Disbursing more than 150 million VND when PDR was at 16,000 VND per share, she took a profit of around 18,000 VND. A few days later, the price adjusted, she "went for a new round" and is now making a profit of about 22%.
Not as adventurous as Ms. Ngoc, Mr. Chi (34 years old) sold many real estate stocks in his portfolio when the increase reached 10-15%. In the past three months, he has continuously bought and sold, regardless of whether the stocks are large, medium or small capitalization. VIC, NLG, NVL, HDG or DXG have all been in this investor's portfolio.
For LDG, a penny stock that increased 170% in less than a month, he also "entered and exited many times" but the amount was insignificant.
According to statistics from the analysis team of Guotai Junan Vietnam Securities Company, including all three exchanges, the average increase of real estate stocks since the beginning of the year is 19%, surpassing the performance of the VN-Index (17.4%). Many stocks have also returned to their par value after a strong increase, typically NVL and DXS.
The market recorded dozens of stocks with outstanding growth rates compared to the index representing the Ho Chi Minh City Stock Exchange, in which the large-cap duo VIC and VHM increased by 190% and 120% respectively. If excluding the stocks of the Vingroup "family", the increase of the real estate group is estimated at about 17%.
Commenting on factors affecting stock prices, Ms. Pham Hoang Bao Nga, Head of SSI Research's stock analysis team, said that there were two notable milestones affecting the real estate market in the first half of the year.
First, the National Assembly passed resolutions on special mechanisms, piloting support for re-implementing stuck real estate projects and promoting the development of social housing. Second, a series of projects were approved for investment policies, planning and construction permits in the period of late last year and early this year.
"The life cycle of a project is relatively long and legal clearance activities cannot immediately improve the overall business results of the industry. However, this development creates expectations for a general recovery of the real estate industry, which is the driving force supporting the recent price increase," Ms. Nga explained.
Sharing a similar view, Ms. Nguyen Thi My Lien, Head of Analysis at Phu Hung Securities Company, added five key factors supporting the recovery of the real estate industry, thereby affecting stock prices. These are high demand for real estate, investment cash flow returning to real estate, legal issues being resolved, interest rates remaining low, and strong investment in infrastructure to increase connectivity.
After the recent surge, Ms. Lien commented that the valuation of real estate stocks is no longer cheap, especially when compared to other sectors such as banking, pharmaceuticals, retail, consumer goods and commodities. She also said that due to financial difficulties and increased land use fees when applying the new land price list, real estate businesses may find it difficult to immediately share profits with shareholders through dividends.
"However, if we look at it in the longer term, the current period can be considered the mid-term bottom of the industry and stocks in this group," said an expert from Phu Hung Securities.
Many investors said they made big profits from real estate stocks, but many experts agree that the current price increase is more differentiated than in previous years.
According to SSI Research statistics in early July, there were 20 residential real estate stocks listed on the Ho Chi Minh City Stock Exchange that increased better than the VN-Index, while 30 stocks did not keep up with the market. The common point of the stocks that increased strongly, according to SSI experts, is that they come from businesses that own large clean land funds, have made legal progress or are in the project opening phase.
"Investors need to select and closely monitor important projects of real estate businesses they are interested in to make decisions, instead of believing that the general recovery of the industry is an opportunity for everyone," Ms. Nga recommended.
Ms. Tran Thi Hong Nhung, Deputy Director of Analysis and Investment Consulting at Guotai Junan Securities Company (Vietnam) commented that the market is approaching its historical peak and cautious sentiment is gradually increasing as many investors begin to consider taking profits.
In this context, it is not impossible to rule out the possibility of unexpected selling pressure, leading to a short-term correction. Therefore, she recommends that investors proactively control the proportion of stocks in their portfolios at a moderate level, while limiting the use of margin, especially with stocks that have increased rapidly in recent times.
"For the real estate group in particular, priority should be given to businesses that own clean land funds, clear legal status, and have a large handover backlog in the 2025-2026 period. These will be factors that support medium-term business results and help minimize risks in the process of holding stocks," said Ms. Nhung.
HA (according to Vietnamnet)Source: https://baohaiphongplus.vn/song-co-phieu-bat-dong-san-416614.html
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