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Real estate market: Houses selling better than apartments
While the apartment market remains very quiet because of low demand, houses priced at below 2 billion dong have been selling very well because the number of people who have a demand for and ability to purchase houses at medium price levels keeps rising.
Less than $2 billion houses favoured
Local newspaper VNExpress reporters, acting as house buyers, went to several real estate trading floors in Hanoi to purchase houses which have the value of less than one billion dong. And they were surprised when they were told that there weren’t any.
The officers working on the floors said that all the houses priced at some one billion dong sell out in just one or two days after they appear on the floor. They said that one billion dong seems to be affordable to many families, adding that people tend to purchase houses with reasonable prices nowadays instead of apartments. It is simply because they can move in to live in the houses immediately after they pay money, and they don’t have to wait for apartment bloc projects to finish.
The officers also said that the majority of buyers of houses are those who have real demands for accommodation. Very few speculators are hunting this kind of real estate at present.
However, even so, it is not easy to purchase houses which have reasonable sale prices. Le Thi Ha from Hoang Mai district in Hanoi complained that she still cannot find a reasonable house worth $1 billion to purchase though she began looking for houses three months ago. Ha said that she just needs a house which is not too narrow and has water and electricity systems.
Nguyen Thanh Canh, Director of ACB real estate trading floor, has also confirmed that most clients who come to the floor recently are looking for houses priced at 1-2 billion dong. Over ten transactions have been successful in the last week, while only one or two apartments have been sold during that time.
According to Canh, most buyers want to purchase houses in the areas of Cau Giay, Thanh Xuan. Meanwhile, fewer clients ask to purchase houses in the inner city or former Ha Dong city.
People don’t like making transactions via trading floors
One of the things that makes it difficult to purchase houses on trading floors is that sellers do not want to offer houses for sale on trading floors.
According to Canh, sellers do not want to pay the high fees to put houses into transactions on trading floors.
Canh said that many sellers advertise house sales at real estate brokerage centres, where they can post the news for a lower fee than the one required by gold trading floors. However, Canh has warned that this may bring risks to both sellers and buyers.
Do Kim Son in Hanoi related that she wants to sell a 2 billion dong house on Kim Nguu street. Son placed an ad piece at a real estate brokerage centre on the sale of the house. However, as she still has not found buyers over the last two years, she is thinking of contacting a real estate floor on Hoang Quoc Viet street.
vietnamnet, vneconomy
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