2020 – 2021: Vietnamese people race to own houses and apartments from the age of 30

At the age of 30, many people try to buy a house, at the age of 40-50, they buy 2-3 or even more types of real estate.

Vietnamese people race to own houses and apartments from the age of 30

Mr. Tran Khanh Quang, General Director of Viet An Hoa Company, said that according to the mini survey of the business with people aged 30 and above and the income ranked above the middle class, the more seniority and stability there are. finance is racing to buy more and more real estate. Vietnamese people see real estate as a measure of lifelong achievement in addition to the goal of accumulating assets, waiting for great profitable opportunities in the future.

Masteri Center Point - Masterise Homes luxury apartment project in District 9-compressed

Masteri Center Point – Masterise Homes luxury apartment project in District 9

“At the age of 30, Vietnamese people began to devote themselves to buying their first house. When they have abundant financial resources, when they are 35 or older, they own more, usually 2 real estate. At 40, the emerging rich prefer to own 3 or more properties. At the age of 50, when the idle cash flow is large, the taste of owning 4-5 different types of real estate is quite common," said Mr. Quang.

This expert assessed that, at different ages, the types of assets Vietnamese hold are not the same. The diversity of this asset list is proportional to the seniority and the size of the cash flow, even the debt, to take advantage of the time to hold the asset as soon as possible. For example: 30 years old buy a house to live in, serving the settlement is the main. But people in their 40s often aim for real estate that can exploit cash flow such as buying a rental home or buying a home with commercial functions. 50-year-olds prefer to hold land bank, even multi-functional real estate than young people.

“The survey on the number of real estate assets Vietnamese people hold by age has not yet expanded on a large scale, but it shows that the idea of real estate hoarding is getting stronger and tends to be rejuvenated,” said Quang. let me know.

Observing the real estate market through many cycles from golden to crisis, Ms. Tran Thi Cam Tu, General Director of Eximrs Real Estate Company commented, that the majority of Vietnamese people are aware of buying a house early on, racing to buy. a lot of land, arable partly due to the impact of culture. Stemming from the custom and tradition of Vietnamese people that "live in the house, die in the grave", everyone aims to have land and have a home to feel secure.

After the age of marriage (30 years old), a few decades later, when they become parents, they continue to think about taking advantage of preparing to accumulate housing for their children and grandchildren. This explains why the older you are, the more you need to have good financial conditions, the more Vietnamese people take advantage of owning many types of real estate.

Not only that, Ms. Tu said that when the 30-year-old started to buy a house, it may not fully reflect the situation of the whole market. Because, nowadays, many younger people, around 27-28 years old, do not wait to have enough money to buy a house, they take advantage of loans to buy a house sooner. “The race to own real estate among Vietnamese has become more and more dramatic when in the past half-decade, real estate prices have continuously increased, no one has made a long-term real estate investment and has suffered a loss,” said Ms. Tu.

Observing real estate consumption behavior under the lens of demographics,

Doan Quoc Duyet, director of Tin Thanh Company, said that Vietnamese people put a lot of emphasis on property ownership when they start a family. In big cities, especially Ho Chi Minh City, the common age for marriage is 25-30. After marriage, income moves from a single individual to a household. Therefore, the ability to save, accumulate better financial and the need to own a home is also strongly urged from this period.

Mr. Duyet further analyzed that those who overcome the challenge of owning their first home at the age of 30 will continue to have many opportunities to prepare abundant capital from the age of 35 onwards. This is the basis for people at the age of 35 to start switching from the goal of buying a house to live in to buying an investment property. “The phenomenon of successful Vietnamese from the age of 35-50 onwards owning a lot of real estate is a consequence of the psychology of investment, even property speculation to optimize profits, and this is booming strongly. ", Mr. Duyet assessed.

Many experts believe that due to the large loophole in the law, there is currently no roadmap for progressive property tax, so the race to own real estate of Vietnamese people continues in the context of increasing housing prices. go to high place. To solve this problem requires policy operators to put on the balance the taxation of property in the coming time.

 

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