According to the recent Real Estate Market Report of DKRA Vietnam, after a quiet period due to the Covid-19 epidemic, the supply of apartments, land plots in Ho Chi Minh City and neighboring provinces have shown signs of recovery. In general, the market demand in all segments has increased significantly. Transactions on the southern market also recorded many positive changes. Real estate prices in Ho Chi Minh City or localities such as Binh Duong, Dong Nai, Long An, Ba Ria – Vung Tau… continue to increase. Experts estimate that the period from the end of 2021 to the end of 2022 will be a period of strong acceleration of the southern real estate market. Despite the heavy effects from the fourth Covid-19 wave, this area will also quickly heat up and regain its development position.
“From the end of 2021, real estate businesses in the south have moved to return to the market with the desire to quickly recover. The psychology of businesses and investors also gradually stabilized and adapted to the Covid-19 context. Therefore, the demand in the real estate market is still general, and the supply will quickly improve,” said Mr. Nguyen Quoc Bao.
Sharing the same view on the prospects of the southern real estate market in 2022, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, assessed that currently real estate businesses have taken action to respond to the Covid-19 epidemic. At the same time they preserves solutions to respond flexibly to overcome difficulties. The Covid-19 pandemic has severely affected the economy. However, real estate is a key industry of the economy therefore the compressed demand will turn back on. When supply and demand meet each other, it will create excitement for the market.
The fact that the market has been compressed for so long has made investors frustrated since having money but cannot find an investment place. This explains why in the days when the whole South was eased after the period of containment because of the Covid-19 epidemic, the real estate market quickly showed signs of recovering. Recorded in the first weeks of easing travel, many notary offices in markets adjacent to Ho Chi Minh City such as Binh Duong, Long An, Dong Nai… all have increased in high level of interest, trading, and market research significantly. In just a few weeks, many localities have recognized the need to view land, carry out notarization procedures for purchase and sale, and submit documents to transfer names.
In particular, Binh Duong market has recorded a great attraction when the whole region shows no signs of cooling down despite the Covid-19 epidemic. Many potential projects in areas with convenient traffic connections such as Ho Chi Minh City, Thu Dau Mot, Di An, Thuan An… still had a steady increase in prices during and after the pandemic.
