The domestic real estate market in the second half of this year is not expected to witness significant changes in price due to stability in supply, according to experts.
Customers look at a real estate project in Ha Noi. The domestic real estate market in the second half of this year will not see large changes in price. - Photo kinhtedothi.vn
During the last six months of this year, the medium- and high-end apartment market would not see any price fluctuations, said Nguyen Minh Ngoc, the Viet Nam Real Estate Association (VNREA)’s market researcher.
However, some products in those segments would experience a slight decrease in price because of more preferential selling policies for customers, he said.
The second half of the year would also be the period in which investors would have to boost liquidity to recover capital and prepare financial resources for investment next year, Ngoc said. Therefore, customers with low capital would find it easier to choose a suitable product.
According to the VNREA, the local property market will have a stable supply by the end of the year because the market has a large apartment inventory from the three previous years, though the supply of new apartments has dropped from the beginning of this year.
"The new supply has dropped but there is high inventory of apartments so sellers must have more policies for their customers to increase liquidity for collecting capital. Thus, the possibility of price increases will be very unlikely and the price could drop slightly compared with the same period in 2018 due to better selling policies,” Ngoc was quoted by the Kinh te do thi newspaper as saying.
Read more at VIR.