New housing solutions appear in the market, creating a good opportunity for those wishing to change houses this year.
Despite the impact of Covid-19, the asking price of new apartment projects in all segments in Ho Chi Minh City in the first months of 2021 increased by 14.6% over the same period in 2020. In 2021 and 2022, luxury apartment prices are likely to increase by 2-7%, according to CBRE Vietnam.
Urban real estate price increase
Apartment prices are tending to escalate, making the supply of affordable apartments even more scarce. According to Savills, the number of apartments under two billion dong only accounts for about 10% of the supply in Ho Chi Minh City, with most of them having an area of only 50-60 square meters.
Meanwhile, the upward trend in steel and construction materials prices also contributed to the increase in real estate prices. According to the General Statistics Office, the consumer price index of construction materials in May increased by 0.4% compared to the previous month. From the end of 2020 until now, steel prices have increased by 50-60%.
Real estate prices are expected to continue to rise sharply
Analysts believe that real estate prices will continue to increase in the near future, especially when the price of steel and some construction materials increase and inflation is expected to persist. The Vietnam Association of Realtors forecasts that apartment prices may increase by 10-15% this year.
The rising price of the apartment market makes the opportunity to settle down for many people far away. However, according to some experts, this situation will also be a driving force for buying or changing houses because the market clearly sees the potential for real estate price increases.
The need to upgrade and change houses to improve the living environment of people, especially in Ho Chi Minh City and Hanoi, is increasing, when the per capita income here is always at the top. According to many experts, in 3-5 years, a new price level will be established in the market.
What opportunity for people who want to change houses?
In that context, changing houses (selling old houses - buying new ones) has been an inevitable trend in Vietnam. When people's income is improved, everyone has the need to express themselves and improve their social status. Therefore, they are ready to move to a new, more spacious house when they are eligible. However, the most difficult problem for anyone who wants to change houses is financial ability.
Understanding this problem, Masterise Home offers a "Home for Home" solution that allows customers to use their own house as collateral to change houses. Specifically, people who change houses will receive interest-free loans from banks until they receive a new house (about 18-24 months). During this time, the market price of the old home and the apartment being purchased may increase and the changeover can benefit.
“From the prestige through the famous products in the market of Masterise Homes, customers will always know exactly when to receive their new home. While waiting for handover, customers can plan to sell their old home for the best price, and prepare a plan for their future life,” said Jason Turnbull – Deputy General Director and CFO of the company. Masterise Homes analysis.
This solution helps people with financial capacity who own luxury apartments to build a clear plan. “Home for Home” is considered an opportunity to change houses at a much lower cost than the previous process of paying 30-50% of the apartment value at the time of purchase. From there, more Vietnamese people can own their dream home.
The “Home for Home” solution applied to the high-end Masteri product line
When real estate prices are on the rise, this solution is considered an effective lever to help home changers take financial initiative and create opportunities to profit from the increasing value of existing and potential properties. increase the price of the apartment being purchased.
On the other hand, experts also recognize that the pandemic has not affected people's need to change houses. In fact, the real estate market is still active in Vietnam and many other countries.
“There are many people relying on this situation to buy a house at a good price. Covid-19 only has a short-term impact when real estate creates value in the long-term, helping investors create accumulated value in the future," a real estate expert shared.
Meanwhile, for buyers to settle down, once they have determined to use the house for long-term living, as long as they have enough financial capacity, customers will seize the opportunity to own a suitable residence.
“Home for Home” is also highly appreciated by many experts in the context that the market needs a push to boost transaction volume and develop more sustainably in the future.
Home for Home is a housing solution developed by Masterise Homes and Techcombank, to help Vietnamese families improve their lives from current accommodation to high-end projects in Vietnam. With a savings of VND 50 million and no payments until they receive the house, customers have the opportunity to enjoy an international standard lifestyle, created by Masterise Homes - a real estate developer. products with leading brands in Vietnam. More information about the solution
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