According to Batdongsan.com.vn’s online data, the real estate market in October 2024 witnessed a recovery in both search traffic and the number of listings, while both metrics decreased in September 2024. Specifically, searches increased by 9% in October, and the number of listings rebounded even stronger, with an 18% rise.
When compared to the same period in 2023, searches and listings in the first ten months of 2024 showed significant growth. Search traffic increased by 22%, while the number of listings rose by 13%.
Source: Batdongsan.com.vn
This recovery was widespread, with a fairly even increase across the board. Among all property types, land plots in projects and detached houses saw the most significant rebound, with a 14% and 11% rise, respectively, compared to the previous month. For the first ten months of this year, land plots also led the way in search traffic growth, with a 29% increase, followed by detached houses with a 25% rise.
In the Hanoi market
, there was a recovery in both search traffic and listings for sales and rentals compared to the previous month. Specifically, searches for Hanoi real estate increased by approximately 8%, and the number of listings for sales and rentals rose by 22% compared to September.
Detached houses, land plots, and shophouses led the way, with increases of 15%, 14%, and 13%, respectively. The number of listings for sales increased significantly across most property types, with project land plots seeing the highest growth of 39%, followed by detached houses and apartment buildings, which rose by 26% and 25%, respectively, compared to September.
The rental market in Hanoi rebounded compared to September, even though the demand for renting rooms, detached houses, and apartments decreased, but at a much lower rate than in the previous month. Meanwhile, the demand for renting shophouses, stores, and offices increased by 9% and 5%, respectively, as the year comes to an end, and many people are looking for commercial spaces for year-end business and trading activities.
In the Ho Chi Minh City market
, the demand for real estate in October remained unchanged from September. However, the number of listings still grew by approximately 15%, indicating an increase in supply towards the end of the year to meet the pre-Tet buying and renting needs.
Both the sales and rental markets experienced growth in demand and listings. Project land plots, detached houses, and shophouses received the most attention, with search traffic increasing by 16%, 11%, and 10%, respectively. The number of listings for sales increased more robustly and evenly across property types: project land plots rose by 22%, land plots by 19%, shophouses by 17%, detached houses by 15%, and apartment buildings by 13%.
The demand for rental properties in Ho Chi Minh City continued to decline, but it showed a slight recovery with a lower decrease. The demand for renting detached houses dropped the most, by 23%, followed by rooms and stores, which decreased by 15% and 14%, respectively.
According to the company’s assessment, the real estate market in October 2024 recovered in both search traffic and the number of listings for sales and rentals compared to September. Notably, the number of listings for sales and rentals is showing signs of a strong comeback to capture the potential demand at the end of the year.
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