Real estate market near Tet: Revealing unusual things

According to many real estate experts, not every year the real estate market has a strange phenomenon like the end of this year, in both the residential and resort real estate segments.

The end of the year is considered as the period of withdrawal of sales of real estate enterprises. If in the period of 2015-2017, the time of the Tet holiday is always considered as the "period" of gold market growth with abundant supply and demand, this year there are many unusual things.

In the residential real estate segment, Ho Chi Minh City - the largest real estate market in the country shows signs of a marked decrease in supply. Specifically, Novaland in 2015 has 12 projects, in 2016 there are 5 projects, in 2018 until the end of the year, only the Grand Manhattna project is marketed. Him Lam Land from early 2018 until now has no new projects. Hung Thinh Corp also has only one project in District 7. Phuc Khang with only one project is Diamond Lotus (District 2); TNR Holdings also did not know the exact time of the new project.

Representatives of many businesses said that due to problems of some regulations on land use fees, site clearance, approval procedures for investment projects, although businesses are doing procedures to apply for some investment. project but do not know when it is done, so it cannot be published. Great demand while scarce sources make prices in the real estate market in Ho Chi Minh City. HCM is showing signs of being pushed up. Many projects that have just opened for sale have quickly found liquidity.

In Hanoi, new supply is in the same situation. If in 2017 the number of new projects launched at the end of the year, there are dozens of projects, then in 2018, the number of new projects is also in scarcity. In the last quarter of the year, only Vingroup has launched at the same time two big projects of Gia Lam Vincity and VinCity Sportia. According to experts, because the number of apartments with Vincity brand is up to tens of thousands of units, other businesses are in the "listening" phase.

Real estate market this year also recorded strange signals. The resort real estate market in areas which are considered "resting paradise" such as Da Nang, Nha Trang, Phu Quoc, Quang Ninh .... are witnessing a sharp plunge in supply and a lack of liquidity. Paradoxically, while the supply of new products is quite sluggish, the demand of the market is quite low, especially condotel apartment segment because the price has been pushed up too high, while the legal is not clear.

Investors are shifting from condotel apartments to coastal land segments.

CafeF