In the past time, the real estate market in the southern region in general and Ho Chi Minh City in particular has almost fallen into a state of "freezing", the liquidity in the real estate market recorded a decrease due to monetary policies such as Bank credits, bonds are strictly controlled... Many landowners have faced financial difficulties and are forced to sell, cut losses, reduce prices, liquidate... In this context, many investors have relatively low cash. adults see this as an opportunity, ready to pay down money to hunt for "overwhelming" goods. However, in fact, the price offered by real estate buyers also makes sellers "shake their heads" bored.
Ms. Hang (investor) is selling at a loss for a 500m2 plot of land in Cu Chi district (HCMC) but has not yet sold it. Hang said: “In the past few months, there are still a few people who go to see the land, but most of them just go to see it for fun, to consult the price, not to buy it. There were also people who bid, but they pressed down nearly 50% of the price I offered, even though the price I offered suffered a loss of nearly 200 million VND compared to the original purchase price."
“Many people come to see the land and then leave, most of which have not been contacted. Someone bid down the price of the land plot to 1,7 billion VND, while the price I offered was 3,3 billion VND. Seeing me shake my head to refuse to sell, they also said, if they don't close immediately, they will buy another plot of land, now there are hundreds of sellers and some buyers, so they don't need it and are not in a hurry," Hang said.
Mr. Long (real estate agent) said: “In early 2023, I received a brokerage for a 200m2 plot of land in Binh Chanh district, Ho Chi Minh City. Land owner offers 30 million VND/m2, 20% down from the original price, the land plot has a "pink book". However, after many rounds of checking information, going to see the land, until the buyer and seller faced each other, the buyers bargained down to 20 million VND/m2, making the landowner bored and refused to sell.
According to Mr. Long, in fact, customers also like this plot of land, but during the time when real estate is cooling down, many people sell out, so customers are afraid of being lost, so carefully pay the price from low to high. However, the owner of the land is different, because he wants to sell quickly, the price offered has already been reduced by 20%, so when he heard that the customer's starting price was too low, the landowner was shocked and refused to negotiate further because he thought that the customer did not have goodwill.
According to experts, in the context of the quiet real estate market, the sell-off is a tense tug-of-war between buyers and sellers on price. Although the seller has lowered the price, the buyer has an investment mentality at this time that is quite risky and has to pay a low price to avoid a loss. There is a big difference between the expected selling and buying prices, so people with money are still waiting outside the market. The closing price will still depend on the buyer's assessment, demand, financial ability, etc. With the current real estate market developments, it is considered the buyer's time.
Mr. Vo Hong Thang - Deputy Director of R&D DKRA Vietnam said that supply and demand have not yet met. The reason is that despite the ongoing decline in prices, those holding assets - real estate have a limited loss threshold. When the selling price area crosses the profit-reducing threshold and completely turns to the stop-loss zone, if the loss exceeds the seller's tolerance level, it will be lost or not enough to cover the costs incurred during the investment process, the real estate transaction will be canceled. deadlock. Because sellers sell off assets - real estate can suffer losses in the situation where all losses are offset and still recover a part of the property, but if they sell off assets to the point of losing everything, they will stop selling real estate and will find a solution. other for replacement.
Sharing the same view, Mr. Tran Khanh Quang - General Director of Viet An Hoa Real Estate Investment Company said that the opportunity to buy real estate at a good price will be greater in 2023 when the pressure increases, the race to sell goods gradually becomes stronger, and the rate decreases. can reach up to 50% for property owners who sell out due to financial hardship. “At the moment, if money is down, investors need to consider three factors. The first is to invest in real estate with complete legality, high liquidity, location near the center, or open connection to the central area. Second, choose products with which you have investment experience to easily bargain and buy at a good price. Third, must "hunt" the products of the project with a policy of much lower price with discount "- Mr. Quang analyzed.
