Earn money to testify, after New Year’s Eve depreciates, the house is more expensive by 200 million VND
In need of buying an apartment, Dinh The Hung and his wife (Hoang Mai, Hanoi) went to find out some apartment projects around Hanoi. Before Tet, Mr. Hung and his wife bought an apartment of 2.3 billion VND in an apartment project that has been in operation since 2019.
With the above amount, Mr. Hung can afford not to borrow more. However, over 500 million VND, Mr. Hung is investing in securities. If buying a house, Mr. Hung must sell all the shares in his account.
Anh Hung analyzed, buying a house before Tet like every year is usually high because everyone has the mentality to buy a house. If buying after Tet, the possibility of house prices will decrease and there will be many choices. Taking the opportunity that the stock market is falling, Mr. Hung takes a part of the money to buy a house and pours it into the stock market. Total investment in securities increased to 1 billion dong.
“When Tet comes, the housing market drops, bottom-fishing stocks increase, I double my chances”, Mr. Hung at that time estimated.
However, unlike every year, after Tet, apartment prices have increased. The number of new apartments offered for sale on the market in inner-city projects is not available. Inflation combined with many factors causes apartment prices to increase. The apartment Mr. Hung referred to at the time before Tet had increased to about 200 million VND.
Quite surprised by this situation, Mr. Hung went to find out some other projects with similar situation. Compared with the expensive price, the apartment price did not increase sharply but there was an adjustment. Projects have an average increase of 100-150 million VND/unit, even with scarce apartments increasing to 500-600 million VND/unit.
Hung sad: “Stocks are continuously falling, the account is negative hundreds of millions of dong because of bottom fishing. And housing prices are skyrocketing.” Currently, Hung has to borrow more money to buy a house because of the money stock investment not “back to shore”.
Mr. Bui Quang Thanh, a real estate broker, said that the prices of apartments in apartment projects have increased. Not only projects in the inner city but also suburban apartments have new prices.
According to Mr. Thanh, the demand to buy houses is still increasing while the new supply is limited. The segment of apartments from 25-30 million VND is extinct in the market. Even in suburban projects, the lowest apartment price is up to 40 million VND/m2.
“Currently, the price of the apartment is about 2 billion VND, including two bedrooms, which cannot be found in the inner city. Apartment prices have continuously increased in recent times, making homebuyers worried,” Thanh said.
Difficult to buy 2 billion dong house
Surveying a number of apartment projects in Hoang Mai, Thanh Xuan, etc., apartment prices tend to increase after Tet. For example, an apartment project in Linh Dam, before Tet, the owner sold about 1.7 billion VND, now it has increased to 1.83 billion VND / two-bedroom apartment. Similarly, at the apartment project on Nguyen Xien street, the apartments for sale have increased by over 100 million VND. The price of apartments in Hoang Mai district from 1.9 to 2.4 billion VND depending on the area, has now increased to 2.1 billion VND to 2.6 billion VND.
Not only in cheap apartments but also high-end, prices also increase. At the project on Pham Van Dong street, compared to the time of opening for sale more than a year ago, the current selling price of the investor has increased by about 12-15% depending on the apartment. The new price ranges from 45-54 million VND/m2. On average, each apartment increases in price from 300-600 million VND.
According to statistics from the website for real estate sales, apartment prices in Hanoi are currently up 4.4% compared to December 2021. In which, the interest of the affordable segment increased sharply by 36% compared to 1/2022.
Meanwhile, the price of affordable apartments in Hanoi in 2021 has grown by 8%, reaching an average of about 23.5 million/m2. Prices of luxury apartments also increased 5% to 32.5 million/m2, while high-end apartments increased 3% to 45.5 million/m2.
Most of the apartment projects expected to be handed over in 2022 have quite high selling prices (from VND 30 million/m2 or more), targeting middle and high-class customers.
Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, said that the residential real estate market in general is still under pressure to increase prices because of low supply and rising land prices (clearance, land tax, etc.) materials and equipment, labor, etc.). The supply of land plots in the market is largely not in approved projects, but mainly in local auction projects and spontaneous projects of small investors.
Ms. Duong Thuy Dung, Senior Director of CBRE, predicts apartment prices will increase by 3-7%, depending on the segment, in 2022. In the high-end and luxury segments, prices may increase by 5-7% ; the affordable and mid-end segments may increase by 3-5%. Along with that, the supply-demand mismatch in the next 2 years will continue.
Duy Anh
at Blogtuan.info – Source: vietnamnet.vn – Read the original article here
