The trend of buying existing real estate of Vinh City residents is increasing.

PV• June 4, 2020 11:10

(Baonghean.vn) - Given the fluctuations of the real estate market in general in recent times, experts say that the real estate market in Vinh is forming a new trend. If investors do not grasp it in time, they will lose potential customers.

Real estate market recovers after the pandemic

The first quarter of 2020 is considered a quiet period for the Vietnamese real estate market in general and Vinh City in particular when both supply and successful transactions decreased. However, the situation is gradually recovering.

The real estate market in 2020 tends to change. Photo: PV

According to the first quarter 2020 report of the Vietnam Real Estate Brokers Association, the first quarter market recorded a total of 53,236 products offered nationwide (including old and newly opened real estate). Transactions reached 7,641 products, with an absorption rate of 14%.

The land segment still has stable transactions because this is a safe storage asset, even increasing in price and high liquidity. However, before the "land fever" in Vinh city from 2019 to now, the high price of land has caused great difficulties for buyers. Specifically, the price of land on the frontage of Nguyen Thi Minh Khai, Nguyen Van Cu, Le Hong Phong, Le Loi streets in the center of Vinh city... increased 2-3 times in a short time, fluctuating from 25-30 million/m2. Commercial land on major roads costs from 80-130 million/m2.

Land supply decreased sharply in the first quarter of 2020.

The highly volatile land market has led to a situation where supply and consumption are affected, and purchasing power has decreased due to increased costs. This has pushed the real estate market to form a new trend.

Existing real estate trends dominate

Despite being affected by the impact of the pandemic, the demand for investment and ownership of existing real estate is always very high in the Vietnamese market, especially in Vinh city. The sharp increase in land prices has led to a decrease in demand for this market segment. Instead, the apartment market, especially existing real estate projects, is showing signs of "heating up". Buyers tend to look for apartment projects to save costs, reduce economic burdens and change the living environment, making it convenient to travel.

The trend of buying existing real estate among Vinh City residents is increasing. Photo: PV

Real estate experts say that the trend of investing in real estate with real value will be the main product line of the market, attracting the most attention from investors in 2020. If in the past, grandiose projects were the bright spots attracting investors, now, existing real estate products, both legally and qualitatively complete, are what customers are looking for. Because the supply of products with real value in the past and present is also very limited.

According to the report in the first half of 2020, not only in Hanoi and Ho Chi Minh City, but also in Vinh City, people's purchasing power has increased significantly. The reason is that the urban infrastructure system has been invested relatively synchronously. In addition, many famous domestic corporations and enterprises have poured capital into Nghe An to "embrace" prime land locations, implementing investment projects in the real estate sector.

Bao Son Green Pearl Project - 72 Le Loi, Vinh City, Nghe An. Photo: PV

The highlight of this infrastructure investment chain to stimulate demand is the Bao Son Green Pearl project at 72 Le Loi. Statistical reports show that successful transactions from the beginning of 2020 to now are still quite positive despite the slowdown in the real estate market due to the impact of the Covid-19 epidemic.

The advantage of the Bao Son Green Pearl project product line is that you can move in immediately, have little risk and easy liquidity. This product line is always in high demand in the market because buyers have a high demand for real housing and do not want to wait too long. Legal issues are also clearer and more complete than other projects. Buyers will have enough basis to check and verify the documents as well as the quality of the project without fear of any ambiguity from the investor. Something that projects that are still "on paper" cannot have.

In addition, when choosing existing real estate, customers still receive full financial support from the bank without any obstacles. This is a great benefit that all customers receive due to the cooperation between the project investor and the bank.

Apartment at Bao Son Green Pearl.

Apartment at Bao Son Green Pearl.

The investor also has a clear understanding of the real needs of customers when building square buildings, apartments with reasonable, smart design, optimal functionality, ventilation and natural light.

With a prime central location, convenient transportation, reasonable design with many amenities and good price policy, apartments at Bao Son Green Pearl Luxury Apartment will certainly create a "boost" for the Vinh real estate market and be the number 1 priority chosen by customers.

For more information please contact:

Cenhomes - Official project distributor

Hotline: 090.222.9900

Website:https://batdongsanbaosonvinh.com/

Fanpage:https://www.facebook.com/ChungCuBaosonVinhGreenPearl