Some apartment projects in Ho Chi Minh City and neighboring provinces began to record positive sales again.

An investor who has a project open for sale in Nhon Trach, Dong Nai, said that from the beginning of October until now, each week, 4-6 pre-orders have been recorded.

“When it comes time to sign the sales contract, this number of pre-booked customers can ‘fall’ a lot. However, as long as only about 50% of the previously deposited units remain, this sale is considered successful,” said a representative of the project distributor.

With Binh Duong area, many investors are also opening new phases of previously implemented projects. According to the sales unit of a mid-end apartment project in Di An City, in November, an average of 2-3 products were sold per day. This number is still low compared to previous exciting times, but there has been progress compared to the early months of the year. If calculated from the beginning of the year to now, the transaction volume of the shopping cart has reached 70%. The total number of apartments sold is nearly 1,000 units.

“This is a positive signal in the context that homebuyers are still tightening their wallets for real estate,” he said.

In Ho Chi Minh City, at the end of September, an apartment project in Binh Tan district recorded an estimated after-sales of VND 600 billion. Based on the selling price announced by the investor is from 3 billion VND for a 2-bedroom apartment, the number of successfully sold apartments exceeds 100 units.

Or a high-end apartment in the old District 2 area (Thu Duc City), although not officially opened for sale, there are still transactions of about 10 units since September until now. This figure is insignificant, but with high-end real estate, the selling price is from 85-100 million VND per m2, this is the most positive result of this segment since the beginning of the year.

A report from DKRA Group shows that in October, Ho Chi Minh City and neighboring provinces had 1 new project and 7 existing apartment projects opened for sale, the total supply opened for sale was 960 units, up 56% compared to the previous month. Accordingly, about 549 apartments were successfully sold, the consumption rate reached 57%. “Market liquidity has improved compared to the previous month,” it said.

Batdongsan reported that demand for apartments improved in October. In Ho Chi Minh City, searches for apartments increased by 15%, advertisements increased by 5% compared to the previous month. In particular, the urban districts with a sharp increase in search of buying are; District 3 (up 18.3%); Binh Thanh (up 18.9%); District 1 (21.1%), District 8 (20%). Other areas such as District 2, District 7, District 10, Binh Tan, Tan Binh, Tan Phu and Go Vap recorded an increase in demand for apartments by 13-17% in the past month.

Some southern provinces and cities also recorded an increase in apartment searches in October including: Ba Ria-Vung Tau increased by 11%, Binh Duong increased by 19%, Can Tho increased by 10%, Long An increased by 10% and Dong Nai increased by 14% compared to September.

In terms of selling prices, data from the parties shows that primary and secondary apartment prices did not fluctuate much in October. However, the common point is that they all have competitive prices and fast payment policies, extending payment terms, gifts for sale … applied more strongly by investors. Besides, it also comes with a direct discount of 10-20% on the price, furniture gift, management fee … Somewhat dragging the overall cost of the apartment down quite a lot compared to the initial promotion.

The reason why the project is well received, according to brokers, is thanks to the gentle payment policy, 30% divided into several installments until receiving the house. The bank supports loans up to 65% of the product value; Customers enjoy a fixed interest rate of 5% for 24 months. “When this support package was applied, the rate of customers signing purchase and sale contracts increased sharply, while before, the consumption was still quite modest,” said a broker at the project in Binh Duong.

Mr. Dinh Minh Tuan, director of batdongsan in the southern region, also said that when the bank moved to lower borrowing rates to 7-9%, the demand for housing began to increase. Records from sales units showed a marked improvement in transactions.

According to Mr. Tuan, besides cooling interest rates, there are 4 other factors affecting apartment liquidity over the past time.

The first is the shift in open supply. If in the period of 2021-2022, the supply of apartments is mainly high-end and luxury, currently the mid-range price type (about VND 2-4 billion per unit) is accounting for the main part. This is a product with a price that the vast majority of people looking for residential real estate in Ho Chi Minh City and surrounding areas are acceptable.

The second is that developers have made a sharp adjustment in selling prices. To increase liquidity, most of the actual selling prices of projects are lower than the previously expected prices of enterprises. This adjustment creates good sentiment for buyers, especially with the group of buyers to live in.

The third is that the sales policy of developers is aiming at how to both solve the cash flow problem and reduce the pressure on monthly home purchase fees for customers. Better discount activities, payment schedule both stretches and splits cash flow to help buyers be more bold when borrowing capital.

Finally, motivation comes from the sales team. The market currently does not have many new sources of supply, mainly next-stage projects, few sources of goods, little competition, making businesses focus on promoting promotional activities, a project offered for sale by many brokers helps increase awareness and reach a larger customer base.

However, Mr. Tuan said that the forecast market is still difficult and difficult to record a spike in liquidity. Trading in the remaining months of the year will be low, it will take until 2024 to receive more positive points.