Strong Increase in Housing Demand after Lunar New Year
Ngoc Minh, 29 years old, Ho Chi Minh City, is planning to buy a 2-bedroom apartment with a budget of about 3 billion VND. After more than a week of house hunting, Minh was pleased with an used apartment in Thủ Đức city, with a price of 3.1 billion VND.
Currently, Minh has 2 billion VND available and plans to borrow 1 billion VND, equivalent to about 30% of the apartment’s value. The remaining amount, Minh plans to borrow from relatives. Sharing the reasons for buying a house now, Minh said that the reduced interest rate for housing loans and many attractive policies introduced by banks are the motivators that make her determined to realize the dream of settling down. “If we don’t buy a house now, then when?”, Minh said.
Like Ngoc Minh, Ms. Pham Sam, 35 years old, from Hoai Duc, Hanoi, has also been searching for a house for more than a month. The plan of Ms. Sam and her husband is to sell their current apartment and find a house in the alleys of Nam Tu Liem district.
According to Ms. Sam, at the moment, real estate prices are stabilizing while apartment prices are soaring. Meanwhile, interest rates for housing loans have hit rock bottom. This is the reason why Ms. Sam and her husband are no longer worried about the pressure of borrowing and repaying the debt.
A survey by many real estate market research companies shows a strong increase in housing demand after the Lunar New Year. The latest data from PropertyGuru Company shows that the nationwide real estate search volume started to rise from the second day of the Lunar New Year and continued to increase strongly. By the 10th day of the Lunar New Year, this index increased by 124% compared to the week before Tet.
Only in January, the period before Tet, the demand for buying houses and real estate increased by 66% compared to the same period last year. Especially in Hanoi and Ho Chi Minh City, the level of interest increased significantly.
Another market research entity also made an assessment of the increasing demand for home purchase and real estate investment. According to this entity, 2024 is the time when many projects will be launched with affordable prices and good payment policies. At the same time, many banks have released separate loan packages for the real estate sector with many preferential and attractive policies. Meanwhile, real estate prices are considered to be at a reasonable level, creating an opportunity for home buyers to settle down or accumulate assets.
Borrowing to Buy a House with Attractive Policies from ACB
Currently, many banks are offering loan packages for the real estate sector with attractive interest rates. From the perspective of home buyers, Ngoc Minh said that in addition to low interest rates for loans, criteria such as preferential upfront payment policies and simplified disbursement procedures are factors she considered and evaluated. Based on the survey, Minh decided to choose the home buying loan package from ACB Bank.
ACB Bank is currently offering loans with an interest rate as low as 0.6% per month, a preferential fixed interest rate period of up to 24 months. The loan period is up to 25 years. Moreover, customers are granted a capital grace period of up to 12 months. In addition, the bank has a flexible capital repayment policy that matches the cash flow and income of customers. Accordingly, customers only need to repay 2% of the principal each year. ACB Bank also offers incentives for prepayment, with no fees for prepayment of up to 50 million VND per month.
Therefore, with this policy, home buyers can completely rest assured as they won’t have to worry about the pressure of repaying the principal in the coming years. As for home buyers with stable and good income, ACB Bank’s loan policy provides a regular and flexible prepayment method without any fees. This is a big advantage for home buyers, allowing them to proactively manage their financial flows.
Furthermore, the loan application process is simple, easy, and fast, helping home buyers to realize their dream of settling down. For more information, please visit https://acb.com.vn/vay-von/vay-mua-nha-dat.
