Real estate market highlights in the third quarter of 2021
Interest in real estate continues to decline sharply, bright spots in the market, real estate prices still increasing in the context of complicated epidemics and forecasting real estate market trends in the last months of the year are among the notable contents.
The real estate market was negatively affected by the epidemic, making the overall picture quite bleak. However, the market still has bright spots from some areas and types of real estate, especially, real estate prices continue to trend up. The movement of the market is clearly shown through the data posted (representing supply) and interest (representing demand) in each type of real estate as well as each region across the country.
L wet interested in real estate continues to decline
In the third quarter of 2021, the interest in the real estate market dropped sharply due to the complicated developments of the fourth Covid-19 outbreak. According to big data from Batdongsan.com.vn, the supply and demand in the market decreased quite sharply in July and August. Specifically: the number of posts and interest in real estate on the whole site decreased by 22% and respectively. 12% in July. August continued to have a deeper decline, 58% and 27% respectively compared to the previous month.
The provinces/cities with the strongest decrease in July are Phu Yen (37%), Binh Duong (35%), Dong Nai (35%), Ho Chi Minh City (33%), Khanh Hoa (32%) and in August is Da Nang (49%), Binh Duong (40%), Hanoi (36%), Dong Nai 35%. These are all areas with the largest number of Covid-19 infections in the country.
The type of real estate with the strongest decline in both supply and demand were private houses/street houses, apartments and land plots. In August, Hanoi saw a sharp decrease in both the sale and rental real estate markets compared to Ho Chi Minh City, the declines of the two regions were 36% and 17% respectively compared to July.
The bright spots in the market
Although the general picture is gray, the real estate market still proves attractive and potential when showing stable development in a number of areas where the disease is well controlled.
For example, Hai Phong has a steady increase in interest in real estate by 4% and 8% in July and August. In areas that used to be outbreaks such as Bac Giang and Bac Ninh, the demand for real estate search is also upstream of the market. market with impressive growth. Specifically, real estate interest in Bac Giang recorded a month-on-month growth of 22% and 26% in July and August 2021. This index of Bac Ninh is 40% and 7% respectively.
If in June, Bac Ninh and Bac Giang were the two provinces with the largest drop in real estate interest in the country, since July until now, when the epidemic is well controlled, real estate demand has recovered strongly. and continuously.
Real estate interest in August increased in some provinces/cities
For Ho Chi Minh City, although the interest has decreased, the data shows that this is still the most attractive and popular market in the country. While the number of infections in Ho Chi Minh City tends to increase many times compared to other localities, the demand and interest for this market still recorded the highest level, the decrease was only 17%. compared to 35-40% in Hanoi, Binh Duong or other epidemic-hit provinces.
Real estate prices continue to increase
Notably, although the supply for sale and demand fell sharply, real estate prices in Ho Chi Minh City and Hanoi still showed no signs of decreasing, even increased sharply over the same period. Accordingly, the asking price of apartments in Ho Chi Minh City in August tended to be flat compared to July but increased by nearly 9% over the same period in 2020. Hanoi continued to record the selling price of apartments. increased by 8% over the same period.
Selling price of apartments in Hanoi and Ho Chi Minh City in August 2021