The latest data from Batdongsan.com.vn shows that after the Lunar New Year holiday, the interest in real estate has quickly increased. This includes the real estate investment group.
Accordingly, the nationwide real estate search volume began to rise from the 2nd day of Lunar New Year and has maintained a strong growth momentum, reaching a 124% increase compared to the week before Lunar New Year.
Compared to the beginning of 2023, the real estate market at the beginning of this year has shown more positive signs in terms of interest and listing volume.
Data from Batdongsan.com.vn shows that the nationwide real estate search demand in January 2024 increased by 66% compared to the same period in 2023, while the number of real estate listings increased by 52%. Notably, in Hanoi and Ho Chi Minh City, land plots and project land have received a higher level of interest compared to condominiums.
In particular, in January 2024, the search volume for land plots in Hanoi increased by 110%, while the search volume for project land increased by 77% compared to the same period last year. Meanwhile, the search volume for condominiums in Hanoi increased by 71%.
As for Ho Chi Minh City, the search demand for land plots increased by 71% to 73%, while the search volume for project land only increased by 59% for condominiums.
The Consumer Sentiment Survey (CSS) report by Batdongsan.com.vn for the first half of 2024 shows that up to 65% of respondents indicated that they still plan to buy real estate in the next year.
Among them, 60% of buyers plan to purchase for investment purposes, and land plots remain the most favored type of property.
According to the CSS report, the psychology of buyers and sellers of real estate is no longer as cautious as in 2023.
The Consumer Sentiment Index for the real estate market in the first half of 2024 increased by 3 points compared to the second half of 2023. This increase is due to the improved satisfaction of consumers regarding the potential price growth of real estate, mortgage interest rates, policies, and market conditions.
In the context of the real estate market gradually warming up at the beginning of the year, real estate agents, trading floors, and developers have initiated early business campaigns to seize the opportunity to reach a large number of potential customers.
Land plots are attracting the attention of real estate investors.
Land plots are attracting the attention of real estate investors
Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn in the Southern region, said that since the beginning of December 2023 when the draft of the amended Land Law has received much attention and discussion, land plot investors have returned to the market.
According to Mr. Dinh Minh Tuan’s research with more than 10 land plot businesses in Dong Nai, Binh Duong, Long An, all companies have shared that the number of land transactions at the beginning of this year has increased.
Most of the transactions focus on plots with standardized legal procedures, priced below 2 billion VND, within a 60 km radius around Ho Chi Minh City.
In the Hanoi market, with segments that meet real needs such as buying and selling, renting second-rate apartments, or retail premises in the inner city, many real estate agents have also started their work right after the Tet holiday.
The scarcity of supply while demand still exists has made the post-Tet period in these market segments more bustling.
Evaluating the psychology and trends of real estate businesses, Mr. Dinh Minh Tuan believes that many developers are determined to launch their projects early in 2024 because if they wait until 2025 when the amended Real Estate Business Law takes effect, it will be more difficult and time-consuming to collect money. At that time, developers will only be able to collect a deposit of no more than 5% of the selling price of a house or a construction project in the future, and they can only collect an additional 25% after fulfilling all obligations to sell the property.
Therefore, this expert predicts that new supply in the real estate market will be improved early in 2024.
Dy Khoa
