HOW WILL THE REAL ESTATE MARKET FINALLY END OF THE YEAR?

The real estate market is forecasted to be more positive in the years second half thanks to policy levers.

The real estate market went through the first half of 2023 with many difficulties, according to which liquidity remained low and selling prices continuously went down. Accordingly, up to now, the calmness and waiting continued to cover the whole market.

However, the real estate market still has bright spots when the Government continuously directs to remove obstacles. Besides, the State Bank has repeatedly reduced the operating interest rate, accordingly, commercial banks also reduced lending interest rates. Therefore, many industry insiders believe that the market has a lot of momentum to recover in the second half of the year.

Looking back at the real estate market over the past time, Mr. Vu Cuong Quyet, General Director of Dat Xanh in the North, said that the market was very difficult in the first 6 months of 2023. But recently, the policy for real estate has positive points.

Specifically, the State Bank is closely lowering interest rates, especially input interest rates, to have better output interest rates. Besides, the amount of money in the bank is abundant, in the last 3 months, loan disbursement packages, especially for individuals to buy houses, are very good, but still a bit high. Finally, the State Bank asked joint-stock commercial banks to reduce lending interest rates for homebuyers as well as businesses.

From the signals from the State Bank, Mr. Quyet said, it will stimulate home buyers, especially those with real needs and long-term investment. "As for real estate prices, from now until the end of the year there will be no sudden changes, but we will wait until next year to prosper, we can be completely confident about this," Mr. Quyet forecast.

Giving a forecast about the real estate market in the second half of the year, Pham Anh Khoi, a member of the market research team of the Vietnam Real Estate Brokers Association (VARS), said that there will be 2 scenarios for the upcoming market. Specifically, in the first scenario, if the real estate market is still difficult and investors confidence has not been restored, this source of money may continue to stay in the banking system, accepting a certain amount of money. lower interest rates.

In the second scenario, if the deposit interest rate falls to 6-7% by the end of this year or even does not decrease, the money source will likely return to the real estate market in favorable conditions. Buyer confidence is improved.

Real estate expert Tran Khanh Quang, General Director of Viet An Hoa Real Estate Investment Company, said that the real estate market will gradually get better. This is reflected in the stock market, which is considered the "go ahead" of the economy in general as well as real estate in particular.

Mr. Quang said that real estate started to come back from the bottom in the second half of the year. At that time, transactions continue to increase, investors are enthusiastic and proactive in making reasonable policies to pull the market back, selling prices are also more reasonable, and payment progress is dragging. longer. "I think the last 6 months of the year the market will start to go up gently," he emphasized.

Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Realtors (VARS), said that the real estate market in the coming time will change thanks to the newly issued policies. Under new support from legal issues, projects that meet the markets needs such as social housing and affordable housing will soon have improved supply. At the same time, capital flows for the real estate market are expected to be cleared soon. From there, promoting market recovery and growth.