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Thursday, July 25, 2024

Real estate market expected to recover in Q2 next year

The Saigon Times

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HCMC – The real estate market is projected to recover in the second quarter of next year, driven by stronger investor confidence in the economy and higher returns, according to experts.

Apartment prices have stabilized, and demand has cooled. However, apartments remain the most liquid assets among real estate products, with stronger interest in Hanoi and HCMC, the Vietnam News Agency reported, citing Nguyen Quoc Anh, deputy general director of the local realty website batdongsan.com.vn.

From the first to the third quarters of this year, customer interest in various housing types is expected to grow. By the fourth quarter of 2024, liquidity is expected to improve, especially for properties meeting genuine residential needs.

A consolidation phase is anticipated in January-March 2025, aligning with more favorable monetary conditions. High-cost property types like private houses and townhouses are likely to gain an edge during this period.

Experts forecast a market upturn from the second quarter of next year, fueled by investor confidence in economic conditions and returns. Land plots and villas are expected to attract significant interest. The market should stabilize by early 2026, with a more diverse range of property offerings.

In the second quarter of 2024, housing prices and rents are projected to pick up. In Hanoi, top projects have seen prices increasing by over 40%. In HCMC, prices have risen by 16-20% compared to the same period last year.

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