If the primary market price remains “anchored”, the secondary real estate market shows signs of “cooling” during the season.



According to research units, in the last quarters, in the primary market (investors sold) no investor announced a price reduction, while in the secondary market there was a “cool down” on price compared to the time of translation has not happened. Those are the products and segments where investors (investors), under pressure of cash flow, accepted to cut profits, even cut losses to recover the cash flow. Although not representing the whole market, but in August of the calendar year (when the second Covid-19 outbreak flared up), the downward wave of prices on the secondary market showed more clearly.

According to the 3rd quarter report of DKRA Vietnam, housing prices showed signs of a slight decrease in the secondary market, and the liquidity was quite low compared to Q2 / 2020. Specifically, the secondary price level in the land plot segment decreased in many areas, the decrease fluctuated about 3-5% compared to the previous quarter. Similarly, the liquidity in the secondary market in the apartment segment is quite low, the level of the secondary price level has decreased, the decrease rate ranges from 2 to 3% on average compared to Q2.

In the townhouse and villa segment, besides the supply, the transaction decreased, the secondary price also decreased significantly compared to the previous quarters, the decrease ranged on average from 1.5 to 2%, some local projects. reduce to 4-5%.


Speaking earlier at a seminar, Mr. Vo Huynh Tuan Kiet, Director of Housing Marketing Division CBRE Vietnam, said that the secondary real estate market showed signs of a local discount of 3-5% in apartments, Investors with financial pressure should sell out and recover the cash flow. In the coming time, it is also difficult to predict the extent of the secondary price decrease, because it depends on the epidemic situation and investor’s psychology. However, it is certain that the secondary price reduction is only local, not representative of the whole market. Because the asset sale is only happening in investors with pressure on capital flow and other investors they can still withstand and keep assets waiting for the market to recover.

Previously, Mr. Vo Hong Thang, Head of R&D Department DKRA Vietnam said that there are currently two opposite extremes happening in the real estate market. Translating Covid-19 for the second time, the primary price not only decreased but also increased while the secondary price in August (calendar) had a significant decrease compared to the previous months. If in June and July, the price on the secondary market only decreases locally depending on the customer, product, region or project, then in August there is a larger level of secondary discounts, in most segments. segment on the market.

However, most experts believe that the secondary price cuts are only local, not representative of the whole market. The reduction also fluctuates in a moderate level, not too large. There are some segments, the investors accept to cut the expected profit to get the goods faster, many investors accept to cut the loss of tens of millions of money to have customers in case of urgent need of money. However, there is also the fact that not all cases of price reduction can be sold quickly, because the demand in the season is also narrower than before when the majority of psychology is cautious.

Recognition shows that, the secondary price reduction in the real estate market mainly falls into segments such as land plots, apartments, some properties are townhouses, and space for rent. Many real estate buyers also take advantage of this opportunity to find a place to settle. According to experts, when the secondary market drops, it is a good opportunity for real home buyers.

According to Mr. Su Ngoc Khuong, Senior Director of Savills Vietnam, projects where many other investors are overwhelmed by finance, can no longer pay money, this will be an opportunity for investors with strong finance “to jump in. “.

Or, some investors buy townhouses at the corner of the intersection to make offices, just invest in real estate. In the past, the crossroads often had high land prices and high rental prices, so many tenants would pay the ground due to epidemics. Maybe the price of a townhouse is about 15-20 billion, but investors have 7-8 billion, borrow more and take the rent to fill in, but now there are many cases of insolvency because there are no tenants. This is also an opportunity to “down money” for investors with strong financial flows available. They can negotiate the price in the meantime.

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