According to Batdongsan.com.vn’s H1 2024 real estate market data, most investment channels showed positive signs compared to 2023. Among them, real estate remained the channel with the highest investment yield.
While people queued to buy SJC gold bars, real estate topped investment yield channels
Batdongsan.com.vn’s historical price tool showed that as of June 2024, the average asking price for real estate increased by 24% compared to the beginning of 2023. In the same period, the VNIndex, reflecting stock price movements, rose by 19%; SJC gold prices increased by 17%; and the USD exchange rate went up by 8%.
Hanoi, one of the leading localities in terms of real estate price increases, recorded a 32% year-on-year rise in asking prices for detached houses and a 31% increase for apartments. Land, villas, and shophouses also saw price hikes ranging from 10% to 19%.
In contrast, Ho Chi Minh City’s real estate asking prices remained largely unchanged over the past year and a half, except for a slight 6% increase in apartment prices, while other property types maintained their price levels.
When asked whether the recent rush to buy gold would impact the real estate channel, Mr. Le Dinh Chung, CEO of SGO Homes Real Estate Consulting and Development JSC (Hanoi), told Nguoi Lao Dong that real estate investors are mostly experienced individuals who view gold as a store of value rather than a profit-generating channel.
Amid the recent volatility in the gold market and the upward trend in the real estate sector, Mr. Chung noted that many investors promptly took profits when gold prices peaked and switched to investing in real estate.
“In fact, many investors have redirected their capital from gold to real estate. They bought when real estate prices were at their lowest,” Mr. Chung said.
According to Mr. Chung, investors are now more cautious and diversify their portfolios instead of putting all their eggs in one basket. They may invest in various real estate segments, such as land, villas, and apartments, to mitigate risks.
Price Check: Thủ Đức District Hanoi Alleyway House Prices Near Tet Holiday
Compared to the beginning of 2022, the prices of private houses in the alleys of Thủ Đức City (HCMC) have decreased.
Astonishingly high price for old and dilapidated apartment buildings reaching nearly 200 million VND/m2, rivaling the most luxurious condominiums in Hanoi
Old collective apartments with prices starting from 100 million VND/m2 are usually the first-floor units that can be used for commercial purposes, while the upper-floor units are priced at 60-80 million VND/m2 for residential purposes.
In 2023, GELEX earns nearly 1,400 billion VND
In the face of macroeconomic pressures over the past year, GELEX Corporation has implemented flexible strategies to maintain stability and strive for sustainable growth.
