"Brokers" are shouting about apartment prices in Hanoi, but the owner has been advertising for 3 months without any buyers.

(Dan Tri) - Apartment prices in Hanoi are said to have been continuously increasing in recent times, but the owners have been advertising for sale for months without any buyers. The "fever" seems to be only in the mouths of the "brokers".

The homeowner has been advertising the house for sale for a long time but has not found any buyers.

Recently, information about the continuous sharp increase in apartment prices in Hanoi has flooded everywhere, making many owners want to take profit. However, some homeowners said that they have been selling for a long time but still have no buyers.

Ms. Nguyen Thanh (Nam Tu Liem, Hanoi) said that in early 2020, her family bought an apartment with an area of ​​78m2, designed with 2 bedrooms at a price of 2.7 billion VND, equivalent to 34.6 million VND/m2. In the middle of this year, her family moved to a house to live. Because she felt that leaving the apartment unused would be a waste, while many people thought that apartment prices were "skyrocketing", she wanted to sell it to get money to invest elsewhere.

In early August, after consulting many brokers, her apartment was valued at 4.8 billion VND, equivalent to 61.5 million VND/m2. Seeing the high price, Ms. Thanh asked brokers to find buyers. At first, some people came to see it but were not contacted back.

An apartment building in Hanoi (Photo: Duong Tam).

By October, Ms. Thanh saw that many brokers still believed that apartment prices would continue to increase. But her apartment had fewer and fewer buyers. To sell quickly, Ms. Thanh lowered the price by 300 million VND, but so far she has not been able to make a transaction. "People say the market is "hot" and any apartment that is sold is sold immediately. But I have been posting for 3 months and still cannot sell it," she said.

Similarly, Mr. Tuan (Cau Giay, Hanoi) said that in 2019, his family bought a 72m2 apartment in Thanh Xuan district for 2.9 billion VND, equivalent to more than 40 million VND/m2, to rent out. By September this year, he saw similar apartments being offered for sale at 6 billion VND, so he stopped renting them out to sell.

"I've been posting my apartment for sale for 2 months but still haven't found a buyer. I've seen many apartments in this project being posted for sale for a long time but no one has moved in. Seeing that it's not feasible, I recently posted a rental listing, waiting to see what the actual market price is before posting it again," he said.

Family members temporarily put plans on hold, waiting for prices to drop.

Speaking to Dan Tri reporter, Mr. Nguyen Truong Giang - owner of a real estate trading floor in Hanoi - said that recently, apartment prices have increased very strongly, even beyond the purchasing capacity of people. Recently, apartment transactions have cooled down.

Some buyers are waiting for apartment prices to drop (Photo: Duong Tam).

However, the asking price has not yet decreased because the homeowner has high expectations. On the contrary, the buyer is showing a mentality of stopping buying and waiting for the price to decrease.

According to him, if sellers want to liquidate, they should use the price of successful transactions at the project as a reference. If they use the selling price of similar apartments as a reference, it will be very difficult to find buyers.

Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - said that recently, apartment prices have only "heated up" locally in Hanoi due to the difference between supply and demand. Up to now, apartment prices in Hanoi have exceeded the peak.

"I have a group of friends who all have high incomes, but looking at current apartment prices, they all think they are too high, not commensurate with the value, and very difficult to access," he said.

According to him, the price of apartments is too high, so many people have postponed their plans to buy a house, thinking that the price is not appropriate. Therefore, the liquidity of apartments will gradually decrease. From now until the end of the year, the price of apartments will not continue to increase. If there is any increase, it will only be an insignificant local phenomenon. However, it will be very difficult for apartment prices to decrease, except in the case of those who need money to reduce the price to sell quickly.

Mr. Nguyen Van Dinh, Chairman of the Vietnam Association of Real Estate Brokers (VARS), said that the level of interest in apartments has cooled down because people have less FOMO (fear of missing out) mentality. However, when a new level has been established, from now until the end of the year, the selling price will be difficult to decrease, especially when the market in Hanoi has not solved the problem of supply and demand.

According to him, although the price increase has signs of impact, creating confusing information from the speculative group creating virtual supply and demand to push up prices in the resale market. Therefore, when "putting money" at any time, buyers need to have a careful price comparison before buying.

Source: https://dantri.com.vn/bat-dong-san/co-ho-sot-gia-chung-cu-o-ha-noi-chu-rao-suot-3-thang-khong-co-khach-mua-20241109013257130.htm