On the afternoon of April 15, the Vietnam Association of Real Estate Brokers (VARS) held an event to announce the Vietnam Real Estate Market Report for the first quarter of 4 and forecast for the second quarter of 2024.
Speaking at the opening of the program, Mr. Tran Van Binh - General Secretary and Vice Chairman of VARS commented that real estate in the first months of 2024 has overcome the most difficult period, and will record positive movements in total supply. and aggregate demand, both input and output, both micro and macro, in the immediate and medium term in operating and business policies and practices, opening up promising opportunities for the real estate market in 2024 .
Evidence and basis for this optimistic forecast are the results of the total FDI investment capital in real estate business activities, the number of newly established businesses and the number of businesses returning to operate in the market right in the first quarter of this year. 2024. The results show that transactions in the market are also continuously increasing in scale over time.
Mr. Tran Van Binh - General Secretary and Vice Chairman of VARS.
On the Government side, Mr. Binh said that ministries still show positivity and high determination to accelerate and strengthen the recovery process of the real estate market, with more than 10 moves being made. In March 3 alone, there were two consecutive important meetings to remove difficulties in the real estate market, production and business.
VARS leaders commented that on July 1, 7, when a number of regulations in the Law officially take effect, it will definitely create a push to push the recovery process of the real estate market to a new, higher level. more evident than in recent times.
“The recovery process of Vietnam's real estate market is increasingly clear and optimistic with much room for further development. The real estate market will soon return to a normal state with increasingly transparent and clear information for all economic sectors participating in this field," Mr. Binh affirmed.
The market has enough combos for real estate to recover
Citing information in the report, Ms. Pham Thi Mien - Deputy Head of the Market Research and Investment Promotion Consulting Department said that in the first quarter of 2024, many real estate projects simultaneously started construction, with a scale of tens of thousands of hectares. , to billions of USD. Many real estate businesses have also begun to move forward with plans to "unpack".
The real estate market in Hanoi and surrounding areas is starting to become more bustling with a sharp increase in the number of transactions, coming from both real estate and investment needs. The apartment segment under 3 billion VND and houses in alleys selling for about 4 billion VND in the inner city area are strongly "sought after".
Meanwhile, land prices also stopped decreasing, land products priced under 2 billion VND in the central suburbs, in provinces and cities, with legal guarantees, available infrastructure and utilities, recorded high Prices increased up to 40% compared to the most difficult market time.
In the Ho Chi Minh City market and shallow sub-regions, the land segment does not have many fluctuations in the primary market. However, secondary land liquidity improved, focusing on products with completed infrastructure and legal status with prices increasing by about 3% compared to the fourth quarter of 2023.
Apartment supply decreased slightly compared to the previous quarter, liquidity also improved significantly. The townhouse and villa segment recorded a price increase of about 2% - 4% in the secondary market compared to the end of 2023.
Many real estate businesses have begun to move forward with plans to "unpack".
Assessing the bustle of the real estate market in the first quarter of 2024, Ms. Mien said that the real estate market currently has enough "combos" ready to serve as a launching pad for the recovery process with support from above. floors, hinge bases from the three most influential Laws on the market, the determination of the subjects, and the trust of customers/investors are increasingly strengthened.
However, all of these factors are still in the process of interaction, needing to wait for the appearance of a "catalyst" to "create a reaction" to produce the final results.
However, the market has also had remarkable results when a series of projects with a scale of hundreds to tens of thousands of hectares, or even billions of dollars, were continuously announced and proposed for investment; more new projects, launching for the first time on the market; Investors actively renew old projects to contribute to further stirring up the market.
The common point of projects launched in this period is standard legality, strong investment in infrastructure, landscape and utilities, and attractive incentive policies to increase persuasion with customers. Investors.
"The first quarter of 2024 is considered a "light stepping stone" for the market to keep pace, before jumping to a new step with expectations of clearer recovery results in the following quarters," Mr. Mien commented. .
The real estate market is moving in a positive direction
Giving forecasts about the real estate market, Mr. Le Dinh Trung - Member of the VARS Market Research Working Group, General Director of SGO Homes said that in the coming time, macroeconomic management policies will continue impact on the real estate market.
Specifically, the Government, relevant agencies, ministries and branches will continue to make efforts to complete and promulgate a Decree detailing the implementation of the Housing Law, Land Law and Real Estate Business Law as soon as possible. Bank interest rates continue to remain stable at a low level.
The Government will also continue to promote removing difficulties and developing the social housing segment. New moves will become deeper and closer. Continue to promote local planning, focus on disbursement of public investment, creating motivation to promote socio-economic development. Compared to the previous period, investors will spend more time considering the decision to invest in "catching the wave" of infrastructure.
Meanwhile, the expert said that the mature cash flow at the bank is starting to look for investment channels that bring more attractive profits, including real estate, especially land products with low investment value. too high, great profit potential.
Mr. Le Dinh Trung - Member of VARS Market Research Working Group, General Director of SGO Homes.
With the above efforts, Mr. Trung believes that the recovery process of the real estate market continues to progress in a positive direction. All changes will take place slowly and steadily based on previous recovery and accumulation, along with support from economic growth and the development of urbanization.
Recovery results still have segmentation by segment and region similar to the first quarter of 2024.
“After going through the "deathly illness", the remaining subjects will have "antibodies". Cash flow from high-potential channels will boldly find the real estate market in larger quantities and with more convenient access. The number of subjects willing to re-enter the game will increase," Mr. Trung said.
