This recovery is thanks to positive adjustments from management and operating agencies, along with the continuous improvement of policies and institutions as well as the expansion of supply from investors and businesses...
Many new projects are opened for sale
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| The market has had new supply, as investors have begun to launch a series of projects (Photo: PV) |
After a long period of stagnation that seriously weakened the "health" of the market as well as the real estate business community, thanks to the efforts and determination of the Government , ministries and branches in removing obstacles and promoting the safe, healthy and sustainable development of the real estate market, since the end of 2023, the real estate market has begun to record signs of recovery. Up to now, the real estate market is still on the path of recovery, in terms of supply, selling prices and transactions.
According to research data from the Vietnam Association of Realtors (VARS), the real estate market in the first quarter of 2024 continued to have positive changes. The market has had new supply, as investors have begun to launch a series of projects.
Groundbreaking activities, kick-off events, and "renewing old goods" are taking place vigorously with an increasingly large scale. The recovery wave is spreading more and more widely. The absorption rate reached nearly 31%, with about 6,200 successful transactions, an increase of 8% compared to the previous quarter and double the same period last year. In addition, newly opened projects, from land products, townhouses, villas, apartments, etc., all recorded good growth in interest, transactions, and selling prices in both the primary and secondary markets. Some markets are considered bright spots in the first quarter of 2024 such as Hai Phong, Hanoi, Hung Yen, Ha Nam, Bac Giang, Hai Duong, Da Nang, Binh Duong, Can Tho. In the first half of the second quarter of 2024, along with the economy , the Vietnamese real estate market is recovering, positively every month. A series of real estate projects in various segments have been restarted, started, announced, and introduced to the market, all of which have received attention with impressive sales results.
The common point of most projects being deployed for business is that they all have a thorough investment in quality with a "clean" legal profile, along with increasingly diverse incentive policies, suitable for the needs and desires of customers right from the booking stage.
Most of the projects launched in the first half of the second quarter have attracted attention, with impressive bookings and sales results. Although the projects launched on the market are mainly in the mid-range and above segments. Because the investment demand in the market is still very large, including the demand for luxury and high-end segments, not just the segment that meets real housing needs. This is also the source of supply that contributes to the majority of real estate transactions in the first half of the second quarter of 2024, when secondary transactions, especially apartments and residential land products priced under 5 billion VND, slow down with stable selling prices after a period of hot growth.
In addition to promoting investment in projects, cooperation and association models between investors and trading floors, between trading floors, etc. are also promoted to develop and distribute projects to both domestic and international markets.
Brokers need to improve their capacity
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| The market's recovery has led to the return of more real estate brokers (Photo: PV) |
Along with the recovery of the real estate industry, the real estate brokerage profession has become "hot", attracting many people to participate and return. Real estate businesses, especially brokerage businesses, have started a race to attract human resources, with attractive recruitment policies to attract high-quality brokers. VARS research data shows that from the beginning of 2024 to now, the number of new brokers participating and returning to the real estate market has grown strongly. It is estimated that in the first 5 months of 2024 alone, compared to the most difficult time of the market, about 40% of brokers have returned to the industry.
Having learned the lesson of having to leave en masse in the previous period, new real estate brokers who have just joined and returned to the market have also undergone a revolution in thinking, with a cautious mindset, from preparing their own knowledge and professional skills to choosing a trading floor to invest in.
Accordingly, trading floors with diverse and quality sources of goods, training programs, standard and professional corporate culture, etc. are the priority choice of real estate industry personnel. Meanwhile, small-scale real estate brokerage floors with less than 30 employees have difficulty accessing investors' sources of goods, recording personnel risks when many brokers quit their jobs and join large-scale floors to promote sales in the context of market recovery. Therefore, to attract and retain high-quality brokerage staff, VARS believes that brokerage service businesses need to develop a training and professional development roadmap, especially creating conditions and financial support for brokers to participate in training courses, improving knowledge for real estate brokerage certification exams.
In addition, it is necessary to research and develop attractive commission policies and flexible "hot" bonus packages to motivate excellent brokers or those who exceed targets. At the same time, create a professional working environment, a standard corporate culture with a clear promotion path, and attractive welfare policies./.
Source: https://dangcongsan.vn/kinh-te/thi-truong-bat-dong-san-viet-nam-dang-phuc-hoi-667681.html
Source: https://www.vietnam.vn/thi-truong-bat-dong-san-viet-nam-dang-phuc-hoi/
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