At a press conference to review the real estate market in the first quarter held by Batdongsan.com.vn on April 6, data showed the real estate market is warming.The real estate market is vibrant thanks to the force from many factors, even factors that resonate and create a "real estate fever" in some localities.

The need to find and buy real estate tends to increase
in the first quarter of 2021. Photo: Hoai Anh.

Hit real estate interest in the highest increase

Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that the data in the first had some remarkable indicators.

Specifically, the level of market interest increased at the highest level over the past 10 years; provincial markets are receiving a strong wave; planning information has a strong impact on buyer and investor sentiment, which is evident in the growth of interest and property price indexes in each region.

In particular, the remarkable information is that in March 2021, Batdongsan.com.vn recorded a new record with 5 million users (compared to about 4 million users in the past), the number of new users increased by over 60% and reached 12.5 million hits, the highest in 15 years.

This figure shows that real estate demand is increasing and many individual investors are interested and participating in the market.

Although Covid-19 broke out at the end of January, 15 days before the Lunar New Year, consumer sentiment was not affected like in the previous outbreaks, the demand to buy real estate still tended to increase, even higher than the same period last year.

According to data from Batdongsan.com.vn, the level of interest (reflecting market demand) and the amount of news posted (reflecting supply) 30 days after the Lunar New Year increased sharply compared to 30 days before Tet is 76% and 36%. Compared to the time after Tet 2020, the interest will also increase by 43%.

Real estate prices increased rapidly in many new markets

Regarding the market situation, right after the Lunar New Year, the real estate market has rebounded spectacularly with a series of launches, trading increased again, focusing on land type.

The real estate market is vibrant thanks to the force from many factors such as: cheap money due to very low interest rates (about 3.5-5% depending on terms); a large number of F0 investors in the market; planning information was published; increasing the state land price bracket (land prices in some localities are increased from 15-30%, in other places 50% - 100%). These factors resonate together and create a "land fever" in some localities.

In addition to traditional markets, in many new markets, information on infrastructure has been announced, prices increase from 10-30%, in some places, land prices increase 2-3 times in a short time.

As noted from Batdongsan.com.vn, areas with a sharp increase in interest spread from north to south. As of March 15, the amount of interest in some typical areas such as Bac Giang increased 256%, Bac Ninh increased 113%, Hai Phong increased 84%, Quang Ninh increased 147%, Da Nang increased 35%, Lam Dong increased 80%, Dong Nai 18%, Vung Tau 43%, Long An 57% over the same period last year.

Representatives of Batdongsan.com.vn said that it can be said that never before in Vietnamese history, planning information has been released on a large scale as at present.

From the western expressway system, to the planning of airports, satellite cities, coastal roads, grade-1 cities to centrally-run cities, to special urban areas, planning on the Red River, building 12 more bridges connecting the two banks of the Red River.

The whole country is like a project being implemented with synchronous planning. This. liquidity and real estate prices in early 2021, especially in the segment of land plots.

Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that, following infrastructure information, there are places where land prices increase based on demand and potential, there are also places where the price increase is blown up with rumors and can have a negative impact on the market.

For example, areas such as Bac Giang, Hung Yen, Vinh Phuc, Bac Ninh are all localities with advantages in industrial real estate development, many industrial zones have been approved for construction investment policy, creating ecosystems, rising land prices based on real demand.

As for areas with planning information for airports, commercial centers, land prices rising, increasing continuously for a short time can have negative effects on the market.