Real estate market: “The one who covers the quilt, the one who is cold”

North: The focal point of Hung Yen

Hung Yen real estate market in general, a large project just launched here in particular is attracting great attention of cash flow. Since before this project was launched, it has become the mouthpiece of most real estate brokers in Hanoi and there was indeed a huge wave of “closing” after the aforementioned super project. Released on the last day of April 2022.

In the role of an investor, the reporter was invited by Phuong Nga, an employee of a project distribution company, to buy an adjacent apartment with an area of ​​48 m2 for a price from 6.5 to 7.5 billion VND/apartment. (equivalent to 135 – 156 million VND/m2, including house construction fee).

According to Ms. Nga, the reason for the same area, but the price difference of up to 1 billion VND is due to the location factor of the adjacent apartments. Before the official price list, the project investor had a rumor price (expected price) for the adjacent apartment of about 5.5 billion VND/unit, however, the actual price was adjusted up, there were no customers. which can be purchased at the original rumored price.

Ms. Nga added that the whole project has about 13,000 products, the initial phase of opening and selling subdivisions attracts many investors. Those who hold the product from 6 months will certainly have positive profits, while holding the product for about 3 years, the profit will double or triple (?).

A representative of a real estate distribution unit in this area shared: “The fact that the price increase in phase 1 of the previous project is not easy to verify. The fact that the price of villas and adjacent products increases 2-3 times mainly lies in the seller’s words, but I have not recorded a specific transaction. However, given the size of the developer of this project and the scarcity of quality goods in the Hanoi market, the fact that “one day closing thousands of apartments is a true story” as affirmed by this position.

The representative said that most of the customers are short-term investors, surfers, ie not people with real needs and cash flow after it is very difficult to find satisfactory products due to the scarcity of projects. poured heavily into this great project to make a profit.

Besides, with the attraction of thousands of sales staff/real estate consultants and a large volume of goods, this new project is the navel attracting cash flow of the Northern real estate market.

Trung Kien, founder of Vietnam Holdings Inc. Asset Management, said that recently, the stock market has experienced a sharp decline in price and liquidity because many investors and institutions have withdrawn. cash flows out of the market to serve production and business activities, or to safer investment channels such as savings, government bonds. In which, not except withdrawing money to invest in real estate, including a new project in Hung Yen, because the project is having good liquidity, attracting cash flow.

Sharing the same view, Mr. Le Xuan Nga, General Director of BHS Group, assessed that, with the project having a scale of hundreds of hectares, the market is witnessing a shift of capital flows to Hung Yen. This affects the liquidity of projects in Hanoi and other northern provinces and cities, however, fully legal housing and resort real estate products are still attractive to investors. professional investment.

South: Divergence

In the southern real estate market, it is showing a clear difference in both price and liquidity. There are new projects announced but immediately receive good news because the shopping carts are almost all ordered, even some projects have to make secondary transactions many times because the investor does not rush out.

Meanwhile, many other projects recorded a negative sales situation, despite the small supply to the market. The general director of a business specializing in developing the land segment in Dong Nai said that his company has about 100 plots of land, but finding customers is very difficult.

“In the past, the Company sold 10-20 land plots every day, but now, the whole week only sells a few plots. The reason for the decrease in liquidity is because the price is at a high level compared to before. In addition, the State Bank of Vietnam has a policy to tighten real estate credit, making investors and businesses nervous and afraid to put down money. On the other hand, the stock market is constantly “red on fire”, causing many people to panic and have the mentality of wanting to keep cash,” said the business leader.

The policy of tightening real estate credit makes investors and businesses worry about not daring to put down money. On the other hand, the stock market is constantly “red on fire” causing many people to panic and have the mentality of wanting to keep cash.

With the resort real estate market, as noted by the reporter, the divergence is stronger. For example, in Binh Thuan, emerging in the current housing craze is Novaland’s Nova World Phan Thiet project. Every week, this project has hundreds of products sold. On the secondary market, the selling price currently has a difference of between VND 500 million and VND 1 billion compared to the first phase for each villa and townhouse product. In contrast, a number of smaller projects not far away did not enjoy the “warmth” spread but the liquidity was very meager.

It is not difficult to explain the cause of the situation where there is hot fever, where liquidity is blocked. According to some experts, market participants are gradually focusing on two factors: safety in the present and real potential in the future.

Current safety means that the product must be developed by reputable enterprises with clear planning and legality; The potential for the future is the impact factors such as infrastructure, planning vision and regional development strategy that have been officially publicized.

In particular, the market is having strong competition among investors to attract customers. Investors are forced to focus on creating highlights and competitive advantages for the project to attract buyers. But to do all these things, not only requires experienced investors, but also must have great financial potential.

From the perspective of being a unit specializing in developing high-end real estate and resort real estate of Sun Group, Ms. Nguyen Ngoc Thuy Linh, General Director of Sun Property said that the market currently exists 2 customer files. The first customer group considers real estate as a speculative channel, so in this period, they will be more cautious, withdraw cash and wait for the market to be more active.

The second set of customers are elite investors who have money to own real estate, consider this a serious investment channel, want to own long-term, do not need to use financial leverage, are not under pressure of cash flow. money.

“In the current volatile period, businesses have to prepare more and more response plans, products need to be more carefully prepared, avoid launching massively into the market but choose the type and time. produce goods that are suitable for their customer files”, emphasized Ms. Linh.

According to the Pope