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Land transaction in Saigon fell sharply

Wednesday - 06/06/2018 07:05
Over the past week, land transactions in HCM City unexpectedly decelerated, the East and West Saigon liquidity reduced by 50-70%.
About 10 days, in the East of Ho Chi Minh City, land sales force in districts 2, 9, Thu Duc simultaneously leveled off, prices go sideways. Chau, the broker specializing in the area of ​​East revealed, in his system in charge, in the past half month, land transactions suddenly dropped sharply, sales volume reached only about 40% compared to April peak / 2018. The liquidity decreased by nearly 60% compared to the previous one. Prices are not much fluctuations, most of the trend is sideways but it is still difficult to predict the development of the land market in the future, Chau said.
'Vạch mặt' thủ phạm gây ra cơn sốt đất nền Sài Gòn
Land of Saigon

Cause of land transaction is reduced, according to Chau because of this particular basket on the market becomes scarce new supply, investors have very little choice to down the money. At the same time, the price of secondary market land in the market is too high, increasing 30-50% on average compared to the end of last year and increasing 100-200% in the past 12-18 months. This makes new investors enter the market with the consideration when buying, old investors are hugging difficult to sell.

The tendency to wait rather than rush into the secondary market has led to a significant drop in buying pressure. As for investors surfing the ground, liquidity reduced their cash flow has slowed down. Particularly those who buy to build homes for real living needs are struggling to afford affordability, bank loans to worry about floating interest rates and concerns that land prices are so high that they are hard to accept because of the virtual reality. confused.

Meanwhile, in the West of Ho Chi Minh City, the land subdivision district 12, Binh Tan, Binh Chanh also noted the decline in force. One company specializing in land distribution said the number of successful transactions in this area has decreased by 70% compared with the first 5 months of 2018.

The land plots in this area offered for sale from the beginning of 2018 with the price of 15 million per m2 on the axis of Pham Van Hai, Le Minh Xuan, Tan Quy Tay has soared to 25-27 million per m2 in less than 5 months. The most active secondary trading took place in April / May 2018. However, at the moment, the secondary trading has stopped, the price goes sideways, the consignment is pretty much and the purchasing power is weak.

Talking with VnExpress, General Director of Dataland, Thien Viet delegation said, from the end of May 2018 to date, the land market of HCMC unexpectedly decelerated quite strong. The most obvious was the slowdown, especially in the segment of land plots, many places have reduced liquidity by 50-60%.

According to Viet, despite the sluggishness in land prices, the current price is too high, requiring time to digest and absorb. The trading volume has been falling for a number of reasons.

Firstly, the land supply is slowly becoming less and less likely to be seen in the last month. Commodities are less so the intensity is reduced, the purchase is not as bustling as before.

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