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Investors are very "craving" to buy real estate

Currently, the price of land plots has dropped sharply, so many investors "crave" to buy. Accordingly, many opinions say that at the end of the year, the land may have "waves", but no longer say that the price is as high as before.

According to the market report of the second quarter of 2023 of BHS Group, the real estate market is gradually showing positive signs. Accordingly, the interbank interest rate is continuing to decrease after 4 times reducing the operating interest rate of the State Bank. Interest rates on home loans in the first 6 months of this year have decreased by 1-2%/year, for a 12-month term compared to the end of 2022.

BHS forecasts this trend will continue in the last 6 months of the year, because the State Bank may maintain interest rate cuts in the near future. Besides, the State Bank is also looking for ways to reduce lending interest rates, helping businesses to access loans more easily.

BHS believes that the localities that will receive the strongest investment in transport infrastructure and FDI capital will be the bright spots for economic development and real estate recovery. BHS forecasts that land plots may once again rise in the second half of 2023, especially land products near residential areas and industrial clusters. However, the price will not be as high as before.

Mr. Nguyen Van Dinh emphasized: "In 2023, the land fever will return, but it will happen at a late time, maybe in the end of the year there will be more searches for land. Because then, the difficulties were removed, the market recovered, interest rates decreased, capital mobilization channels were opened.

Besides, I think the price of land plots is unlikely to drop further in the long term, . The price may move sideways from where it is now but then quickly rebound on renewed expectations.”

Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that there will be no land fever this year, but the market is showing many positive signals in the coming quarters.

“In the long term, land is still a potential investment if investors know how to choose valuable products. The market still has bright spots in localities with strong infrastructure development and high urbanization, especially in provinces with a large amount of FDI. Only the types of investment land that do not have high use value will be reduced in price, "emphasized Mr. Nguyen Quoc Anh.

Assessing the investment trend in the coming time, Mr. Nguyen Anh Que, Chairman of G6 Group, said that the continued reduction of interest rates will cause some people to withdraw money from banks and switch to other investments, including real estate.

“Currently, the lending interest rate at four state-owned commercial banks is about 9-10 percent, commercial banks are around 11 percent. In the near future, the interest rate will decrease from 1.5-2% to 7.5-9.5%, which will be almost equivalent to the interest rate in 2021. Accordingly, investors are willing to borrow to buy real estate cheap, potential products,” said Mr. Que.

Mr. Tran Khanh Quang, General Director of Viet An Hoa Real Estate Investment Company, said that, in fact, investors are currently "craving" to buy real estate. The reason is that many products are discounted by 10 - 30%, along with many prolonged payment policies, financial support, and loan interest rates.

“There are projects that I see only need to pay 15%, the rest is supported in terms of interest, only three years later to receive the house. Therefore, even though they are "craving" to buy real estate, they must also consider it. Investors also have to sell at a loss. Although everyone is craving, they still waiting for each other, as long as there is something positive the market will come back,” he said.

Minh Tam