“Real estate agents still actively fishing for individual clients during the last days of Tet holiday”

Even though it's 24, 25 lunar New Year days, we still come across the sight of broker groups working in consulting points. These brokers are celebrating Tet far away from their hometown after a challenging year in the economy and real estate market.

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In District 9 (old, now known as Thu Duc City, Ho Chi Minh City), on the afternoon of the 24th of lunar New Year, we still saw a few groups of brokers taking advantage of the opportunity to make money.

Brokers are still working hard close to Tet. Photo: Ha Vy

In this area, the land market did not see much fluctuation in the days leading up to Tet. Some plots were sold at lower prices, about 200-300 million VND lower than the market price in the area.

According to the local brokers, there were still customers who went to view houses and land before Tet, but the payment rate was still quite slow. The majority of buyers were investors looking for cheap plots of land to sell before Tet. However, compared to the beginning of 2023, the available land plots have already been sold and there are no longer deep price reductions.

In Long Phuoc Ward, District 9, the land market is slow. The plots of land being sold have a decrease of around 300 million VND compared to the market price. Photo: Ha Vy



Some groups of brokers are still “waiting for customers”. Photo: Ha Vy

According to the observation, in the Long Phuoc area, the information about the completion of Long Dai Bridge has had a positive impact on investor sentiment. However, the real estate market has not yet recovered.

At some broker advisory points, there are no longer any brokers sitting there. The signs are folded. Photo: Ha Vy

After a period of quietness, second-tier land plots in District 9 have decreased in price by an average of 10-15% compared to the beginning of 2022. Photo: Ha Vy

According to the survey, the price of second-tier land plots in District 9, and the overall East of Ho Chi Minh City, has returned to the price level at the end of 2019. In addition to investors who want to sell their properties before lunar New Year, some investors are adopting a “holding” strategy and not selling, waiting for positive signals from the market.

SOURCEcafef
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