There is a situation of “profit on paper”, real estate investors are worried and real buyers are in trouble
Status of “profit on paper”
Market real estate In some places, “profit on paper” has appeared, meaning the asking price has increased but it is difficult to find buyers. Mr. NT T, an investor in Hanoi, said that his garden house in a project in Ha Dong area at the current market price is about 10 billion VND.
Compared to the time of purchase in 2018, this price range has increased by nearly 40%, it sounds like a good idea, but it has been offered for sale since the end of 2021 and still can’t find customers.
“Even though the price is lower than the market price, visitors still do not have the will to buy because it is expensive. Not only that, this house has been abandoned for many months because it cannot find a tenant, “said Mr. T.
According to Batdongsan.com.vn, the real estate market has no shortage of projects that are planned for long-term development, lack of population to live in, abandoned houses for grass to grow, but with secondary selling prices of up to billions copper.
According to real estate brokers, buyers are mainly investors, so houses are often abandoned, no one lives, but prices still skyrocket according to the general increase of the market.
Many investors, after selling, only deploy some basic infrastructure utilities and then leave it, investors don’t move in, so they don’t care. They just need to know that the land price is still increasing steadily, but it is not easy to sell these products.
The high asking price of real estate, but not easy to sell, is making it difficult for project investors who plan to launch this year. In fact, some adjacent projects and shophouses have offered a selling price that has nearly doubled compared to last year, but buyers are not easy to find.
Pressure on real buyers
The situation of “interest on paper” is putting pressure on investors to borrow from banks, or need money immediately, also causing the market to appear more and more empty houses. While people who buy real estate to live in, it is very difficult to find products that are suitable for their budget, because prices are constantly being pushed up.
Ms. NM, who has worked in Hanoi for nearly 15 years, said that although her salary is currently more than 20 million/month, she still does not dare to calculate the way to buy a house.
She tried to go to a few areas near Hanoi such as Hoai Duc, Me Linh, and Dong Anh to find housing even though she accepted to work far away. However, these suburban districts have also increased prices in the past 2 years, so she cannot find any affordable products.
“House and land located in a residential area cost VND 2.5-5 billion, an apartment of about 60m2 suitable for my family costs over 2 billion VND.
Saving money is less than 50% of the apartment price, buying land is even more difficult, borrowing is afraid of not being worth it in the long term. House prices increase every year, even in deserted areas where there are not many people, but land prices are also high, unable to buy,” said Ms. M.
Mr. Lam – a real estate broker in Hanoi said that for buyers to invest and people with land to sell, the fact that land prices are on an uptrend is good news, but for those who have a need to buy land. in reality is a concern.
Service infrastructure has not come yet, many areas are not very populated, but the land for sale is still ridiculously high. Even the countryside now has increased sharply over the years.
The real estate market is not only in big cities but also in localities where “people can’t eat all, people can’t find out”, because most of the projects in urban areas, residential areas, Especially for land plot projects, buyers are mainly for investment and speculation to make a profit.
For large urban areas, the customers that businesses are targeting are mainly professionals, high-income people, not unskilled workers, which easily leads to supply-demand mismatch. .
To improve the above situation, HoREA has suggested that the Government focus on amending and perfecting the law on real estate investment and business, in which it is necessary to impose high taxes on those who own abandoned land and houses. not used to limit hoarding and speculation.
For businesses, when implementing projects, they aim to attract residents to live by focusing on planning utilities and services to serve real-life needs.
At a question-answer session at the National Assembly Standing Committee meeting on land speculation and tax evasion on land transactions recently, Minister of Natural Resources and Environment Tran Hong Ha suggested: “Higher taxation. with cases of speculation, hoarding land, because these cases do not generate socio-economic value. High taxes also cause people holding land to give up. High land prices may go down.”
He said that even houses, residential land, non-investment projects, or unused agricultural land… must be taxed. Even for people with 5-6 houses, but which houses do not live in, do not generate profits for the society through leasing, doing commercial business, etc., they must be taxed.
at Blogtuan.info – Source: Soha.vn – Read the original article here
