The real estate market in 2023 is assessed to be towards the real trend, the prices of products will also be adjusted reasonably, there will be no price blowing and speculation. Therefore, according to experts, 2023 will be a good time for buyers to own a home.
In 2020 and 2021, housing prices have been pushed too high beyond the ability of many people to pay. Therefore, in 2023 real estate prices will be brought to a reasonable level, people with real needs will participate in the market.
The report on consumer sentiment and real estate trends in early 2023 published by Batdongsan.com.vn showed that 68% of respondents said they would buy a house and land within the next 1 year. The percentage of people planning to buy real estate in 2023 is 46% for those who do not have any properties, 79% for those who own 2 properties and up to 87% for those who have more than 3 products Real Estate.
In addition, many Vietnamese are also willing to spend 40%-60% of their total income to pay installments to buy a house. These figures show that people’s demand for houses, land for living and investment is always high.
2023 is forecast to be a good time to buy a home.(Illustration)
According to Mr. Tran Khanh Quang, 2023 may be a period when many investors are “defensive”, keeping more cash to wait for opportunities to hunt for good-priced goods.
Real estate investors from the second half of December 2022 are forced to sell at low prices to cut profits or stop losses. This is the time when the first bottom of the market can be identified. Continuing to the first quarter of 2023, businesses want to restructure, at this time a number of real estates will continue to be sold, the discount and discount will be less. Until the middle of 2023, it is possible to realize the market’s movements.
“ Now is not a good time to sell property, but it is a good time to buy. Investors can consider buying if they have idle money, not borrowing. On the other hand, it is possible to wait for more policies and regulations of the State and make a decision from March to June 2023, “said Mr. Quang.
According to Mr. Nguyen Quoc Anh, Deputy General Director of batdongsan.com.vn, if credit growth is loosened in early 2023, it will stimulate a faster recovery. The good news is that by the end of 2022, the Government has set up a working group to remove difficulties for real estate and the revised Land Law is being submitted to the National Assembly for approval. Thus, real estate can fully expect an earlier recovery, expected around the end of 2023.
Le Dinh Hao, Head of Batdongsan.com.vn Business Division, said that in the first months of 2023, the real estate market will gradually become brighter when policies related to credit interest rates and exchange rates are issued stable. The market is also currently supported by a policy of 2% for businesses (25,000 billion package) and homebuyers (15,000 billion package), but it has not yet absorbed well, because supported businesses must ensure the following conditions: conditions such as no bad debt, secured assets, stable cash flow… However, in 2023, when the interest rate policy is stabilized, businesses will have more opportunities to access.
Sharing the same view, Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, also said that by 2023, when there is a new credit room, the real estate market will be more vibrant than it is now. Although the new credit room cash flow is not much, it helps the market to have more transactions from real home buyers and retail real estate investors. However, Mr. Dinh said that there will be no “land fever” like early 2022.
Source: CafeF
Source: Vietnam Insider