Experts of Vietnam Real Estate Brokers Association (VARS) forecasts the first quarter of 2023, the market real estate Vietnam will be less volatile and it is very unlikely that “mutation” situations will occur, the expected transaction volume is equivalent to the same period in 2022.
In the first month of 2023, the price level was almost flat Investors, customers have begun to put down money with a willingness to wait for the “bottom-fishing” of real estate. Many investors are also questioning whether the real estate market has hit the “bottom” or not.
According to experts, the “bottom” of real estate is roughly understood as the lowest price that a buyer can buy. However, there is no single yardstick that can determine where the “bottom” of real estate is. Therefore, in order not to miss the opportunity, each customer himself needs to determine the “bottom” price that he can accept to “catch” his own.
Mr. Nguyen Van Dinh – President of VARS said that the equilibrium price is at the point where supply equals demand. Needs are wants and needs, while demand also has to meet additional ability to pay. Economic growth and income will gradually turn demand into actual demand and potential into opportunity.
[Gỡ điểm nghẽn cho thị trường bất động sản trong năm 2023]
From an investor’s perspective, many people think that real demand and opportunities in Vietnam are very attractive. This attraction can create boom periods in construction and a good market will be able to self-regulate supply and demand.
When supply is greater than demand, there are no buyers, to create liquidity, property owners will have to adjust the equilibrium price at the point where buyers are willing to pay with the expected profit or minus the maximum loss that investors, businesses can accept in case of need to “cut blood.”
Near Tet, along with the “stop loss” selling information, has the real estate story “bottomed out” and should “catch the bottom” of real estate at any time that has received a lot of attention from investors. real estate as well as home buyers.
According to VARS experts, in order to find a solution for the “bottom-fishing” time of real estate, both customers who want to buy real estate to live in or hoard assets or invest need to clarify a few things. problem. First is your own financial situation, investment needs-purpose-term, context in the area where you intend to invest.
After 2 years of “stormy” development, this is an appropriate period, a “unique” opportunity for professional, experienced investors to grasp market information or have financial potential. strong financial position, idle cash flow, willing to invest for 3-5 years or more with the expectation of a higher profit than the interest rate banks can “collect.”
Illustration. (Photo: Hung Vo/Vietnam+)Currently, the selling price of real estate after establishing a new price level has gradually stabilized and there are many options, especially in the secondary market.
For people with real housing needs, this is also an opportunity to “settle down” because this period is the time when businesses are forced to restructure and adjust selling prices at the aforementioned equilibrium point to ” survival.”
In the context of positive economic growth, real estate will certainly increase in price faster than the growth rate of society’s income. If the customer has accumulated enough cash, wants to buy finished products or future housing products (with good construction progress and legal status) suitable for living or accumulating needs property does not need to care if the price of that house is at the “bottom” or not, but as soon as there is an adjustment, it can be bought immediately – VARS experts advise.
However, with an emerging market like Vietnam, the lack of transparency and standards in transactions, especially in products formed in the future, is one of the big risks for domestic and foreign investors. water.
Therefore, the criteria to evaluate transparency, in addition to the standards of valuation, market transaction information also includes an assessment of the reliability of real estate brokerage services.
In a recent VARS survey of members who are active real estate brokers, 70% of investors surveyed said that profitability is the most important factor affecting their investment decisions. rather than stories about product information, market prices, and capital costs.
In order for the real estate market to develop, to ensure that all market participants receive stable profits, in addition to profitability, investors need to understand the valuation standards and market transaction information. , choose a reputable real estate brokerage service, limit investment status according to the crowd or rely heavily on credit support channels.
Assessing the prospects for 2023, VARS affirmed that the real estate market will definitely recover. Directly contributing 15% to the national GDP along with influencing more than 40 other related industries, real estate plays an increasingly large and important role in the national economy.
Mr. Can Van Luc – Chief Economist of BIDV, member of the National Monetary and Financial Policy Advisory Council commented that the market has the existence of a connected quadrilateral: insurance-banking-securities. -Real estate is closely related to each other.
Specifically, the bank spends 20% of its capital for real estate lending (both housing loans and housing business). Securities are also closely related to real estate. Many real estate businesses are at the top of the corporate bond issuer.
Real estate companies listed on the stock exchange are 17% of the total market capitalization. In addition, many real estate trust funds and derivatives are related products between the real estate industry and securities.
If this connected quadrilateral is the 4 wheels of a car, as long as one tire is deflated, the other wheels cannot run. Even if not intervened, timely handling will very easily cause serious situations.
Therefore, removing difficulties for the real estate market is something that the Government cannot help but do. In fact, recently, the Prime Minister has issued many drastic and timely instructions to remove obstacles for the real estate market – Mr. Can Van Luc cited.
In the coming time, state management agencies will focus on removing legal obstacles to bring new supply into the market; develop a separate mechanism for enterprises to develop social housing projects, affordable housing, suitable for low-income people and other mechanisms carefully to avoid causing the phenomenon of “low-lying water” , “real estate bubble, detrimental to people and bad consequences for the economy.
On the customer side, investors also need to supplement, accumulate knowledge or choose for themselves a professional consulting unit as well as prepare a good financial plan so that when the price drops, they can buy immediately. In, don’t let the desire to “catch the bottom”, expect the price to continue falling in the future but miss the opportunity.
Thu Hang (VNA/Vietnam+)