Real estate expert reveals that the new cycle in the property market is projected to occur in the second quarter of 2024. Investors are advised to seize the opportunity by investing before the Lunar New Year

According to data from the Vietnam Association of Real Estate Brokers (VARS), in recent times, the real estate absorption rate has gradually increased over the quarters in 2023 with the figures being: 2,700; 3,700; 5,778; 5,710 products. Total transactions for the whole year 2023 reached 18,600 products, equivalent to 18,900 products in 2022. VARS assesses that this is a positive trading level.

Dr. Nguyen Van Dinh, Chairman of VARS, acknowledged that although the real estate industry still faces many difficulties, the market is always mixed with challenges and opportunities. Therefore, if you know how to grasp it, 2024 will still be a suitable time for investors to invest money.

"2024 is predicted to be the last difficult period for the real estate market. Although it cannot explode, it will gradually stabilize. Good moves from policies are bringing buyers' confidence back to the market. This year is said to be the beginning of a new cycle of development for many years to come," Mr. Dinh said.

Assessing the driving forces driving the housing market to change positively in 2024, Mr. Pham Vu Thang Long, Head of Macroeconomics Department, HSC Securities Company, said that economic growth in 2024 is forecast to recovers better than in 2023 due to improved import and export activities. The economy recovers and people's income is guaranteed, leading to an increase in people's ability to pay. Including the need to pay for buying and investing in housing.

Mr. Long also said that interest rates are at the lowest level in history. Right from the beginning of the year, the State Bank has set a very "open" credit growth rate of 15%, so home buyers and investors Investors will have many opportunities to access cheap credit capital in the coming time.

"In 2023, the State Bank of Vietnam continuously reduces interest rates, but the European Central Bank and the US central bank increase interest rates, so the pressure is still great. However, by 2024, the two banks This will control interest rates in a downward direction so the pressure is no longer great and interest rates in Vietnam will likely continue to be low," Mr. Long said.

This expert predicts that by 2024, not only will foreign investors pour into Vietnam to "hunt" for quality real estate projects with good legality, but also domestic individual investors will return. back to the market. Because 2024 is truly the right investment time for those who know how to select opportunities.

Sharing the same opinion as Mr. Long, Duong Thuy Dung - CEO of CBRE Vietnam also commented that the interest rate level is on the path to stabilization again. Policy and legal elements are on the roadmap for revision and approval, ensuring uniformity and uniformity, which will contribute to improved market confidence. From there, it will help the market recover in 2024.

"Capital flow has been returning to the real estate market by the end of 2023, but is not really abundant and has not recovered strongly. The new cycle of the market will begin in the second quarter of 2024. Accordingly, Segments with prices close to buyers' affordability will recover faster," Ms. Dung said.

After the turning point, the market is expected to gradually recover in four main stages: Exploration - Consolidation - Prosperity - Stability (Source batdongsan.com.vn).

Data from Batdongsan.com.vn also shows that the market has gradually recovered in four main stages: exploration - consolidation - prosperity - stability. Currently, the market has passed the exploration phase at the end of 2023, and is stopping at the consolidation phase in the first and second quarters of 2024. From the third quarter to the fourth quarter of 2024, the real estate market is expected to enter period of prosperity and stable growth by 2025.

Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn forecasts that the Vietnamese real estate market will enter a period of prosperity from the second quarter to the fourth quarter of 2025. He expects this period to record strong economic development and growth in investment capital in the real estate sector.

The financial potential of investors and the improved monetary environment lead to a recovery in supply and liquidity on a large scale. Real estate prices during this period will also improve at the same time as supply and liquidity. .

Deputy General Director of Batdongsan.com.vn commented that after the first quarter of 2026, the real estate industry may gradually enter a period of stability. The market continues to have good growth momentum in terms of liquidity and prices, and there are many types of real estate appearing.