In early July of this year (lunar calendar), Mr. Pham Van Nga, a resident of Dai Kim ward, Hoang Mai district, Hanoi, happily announced to his friends that he had just paid for a "million-view" apartment in the Dai Kim urban area. According to Mr. Nga, the apartment that he and his wife decided to invest in is among the most desirable units in this project.
“ With an area of 105 m2, a corner unit with 2 spacious balconies, 3 bright bedrooms, and a complete ownership certificate, this is the apartment my family has been looking for for a long time. However, it's only now that someone has put it up for sale. Therefore, despite some hesitation about the Ghost Month, we still decided to put down a deposit to buy it ,” Mr. Nga said.
The real estate market still saw many transactions during the Ghost Month. (Illustrative image)
According to Mr. Do Van Duong, a real estate sales agent in Hoang Mai district (Hanoi), apartments with such prime locations are rare. “ A condominium project only has a limited number of units, a few dozen out of hundreds. Therefore, when information about a project becomes available, it immediately attracts a lot of interest. If the price is agreed upon and the buyer's finances are sufficient, they should quickly finalize the purchase because the chances of buying a desirable apartment at this time are not high ,” Mr. Duong said.
Mr. Duong added that since the beginning of July in the lunar calendar, he has successfully closed two transactions, including one for an apartment and one for a house. “ These are real estate segments that many people are interested in right now because they meet actual housing needs. The market may be sluggish in large projects far from the city center, but real estate in the city center is still seeing quite a lot of transactions ,” this real estate agent said.
Ms. Nguyen Van Anh, a real estate agent specializing in properties in the city center, also reported that this segment is currently the most actively traded in the real estate market. Recently, Ms. Van Anh successfully brokered a sale for a house on Tuong Mai Street in Hanoi. “ The house is newly built, 50 square meters, located on a fairly wide alley, but priced at just over 6 billion VND. This price is only available at this time; if you wait until closer to the end of the year, the price could easily increase by several hundred million VND ,” the female agent stated.
Having been in the real estate business for many years, Ms. Van Anh is well aware of customers' tendency to avoid the "Ghost Month" (Ngâu month). " However, this year's Ghost Month coincides with the lowest point of the real estate market. Therefore, those who genuinely need to buy a house to live in are not hesitant to spend money if they find a product that meets their needs ," Ms. Van Anh said.
In the real estate rental sector, apartments and houses in urban areas are attracting many transactions during this period. Rental prices in the central districts of Hanoi have increased significantly compared to over a year ago. For example, a 100 m2 apartment in the Royal City project (Hanoi) is currently priced at 18 million VND/month, compared to 16 million VND/month a year ago. An apartment of the same size in Time City would cost 20 million VND/month, 2-4 million VND higher than a year ago. For mid-range apartment projects, a 100 m2 apartment is also being rented for 15 million VND/month compared to 13 million VND/month a year ago.
Meanwhile, the private housing segment in Hanoi continues to maintain price increases. Specifically, private houses in Thanh Xuan district, including Nhan Chinh, Khuong Trung, Thanh Xuan Bac, Thanh Xuan Trung, Thanh Xuan Nam, Khuong Mai, Kim Giang areas, etc., which were priced at 3.2 - 3.5 billion VND/house at the end of last year, have now increased to 3.3 - 3.7 billion VND/house.
According to real estate experts, the market began to show positive signs in the third quarter of 2023 compared to the first and second quarters. The cooling and stabilization of bank interest rates will soon attract capital to the real estate sector.
In the latter part of 2023, although it may not generate significant revenue from mining and business operations, the market will experience a partial recovery in certain segments and regions as medium-term investors begin to disburse funds.
Reishi
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