This year's Ngau month (lunar calendar's 7th month) coincides with the time when three laws related to the real estate market, including the Housing Law 2023, the Real Estate Business Law 2023 and the Land Law 2024, officially take effect. Thanks to that, during the Ngau month, the market still has momentum to recover, but the speed is still slow.
Mr. Anh Tuan, Director of AT Trading Floor in Hanoi , said: The apartment segment is still in a period of scarce supply. Currently, only a few projects in suburban areas still have "goods".
Illustration photo. (Source: ST)
In the secondary market, this segment is in a state of price chaos. Therefore, during the Ghost Month, most customers who want to buy an apartment are just waiting to see what happens.
For the residential housing segment, especially the housing segment under 3 billion VND, there are still transactions. In particular, the "bright spot" of the Hanoi housing market is still renovated collective apartments priced under 2.5 billion VND.
“In general, during the Ghost Month, investment demand tends to decrease, but demand for buying houses for living still has good transactions. Affordable housing is prominent,” said Mr. Tuan.
Meanwhile, Ms. Hoang Yen, a real estate broker in Hanoi, said: Normally, during the Ngau month, large investors often launch promotional programs to stimulate demand, such as increasing discounts, increasing interest rates or giving away gifts. Therefore, sales during the Ngau month are somewhat better than the first months of the year, even equal to the end of the year.
“The Vietnamese real estate market has a rule that sales in the first months of the year are usually low and gradually increase in the following months. The “peak” period of the market is November and December. However, thanks to stimulus policies, in recent years, sales in the “ghost month” are on par with the end of the year,” said Ms. Yen.
Mr. Vu Cuong Quyet, CEO of Dat Xanh Mien Bac, also said that with the growing scale of the real estate market, the notion of not buying a house in the 7th lunar month is gradually fading.
For many people, the "ghost month" is a good time to spend money because this is the period when it is easy to buy products at "bargain" prices.
Many projects launched during this time often have more incentives than other times of the year. For investors, if they see a profit, they will put money down and no longer focus on taboos like before. Thanks to that, buying and selling transactions still maintain a stable pace.
"Buying a house during the "ghost month" is no longer considered as restrictive as before, and the real estate market is changing over time with changes in the concepts and behaviors of buyers and investors," Mr. Quyet emphasized.
However, some trading floors in Hanoi revealed that currently, the market supply is low, land and housing prices are in a "price race", so the transaction volume has not improved much. In addition, this year, major investors do not have many promotional policies during the Ngau month.
Source: https://www.congluan.vn/thi-truong-bat-dong-san-trong-thang-ngau-thang-co-hon-the-nao-post310314.html
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