What job can buy a 3 billion VND apartment in Hanoi and Ho Chi Minh City the fastest?

Apartments priced from 2 to 4 billion VND are sought after.

The imbalance of products in the real estate market has been mentioned by many research units and experts in recent years.

In its 2023 market report, the Vietnam Real Estate Brokers Association emphasized that affordable commercial housing products are increasingly lacking. The proportion of affordable apartment supply in the total apartment supply has dropped rapidly, from 30% in 2019 to only 6% in 2023.

In Hanoi and Ho Chi Minh City, the mid-range apartment segment is also gradually becoming scarce. Apartments priced at 40 million VND/m2 are almost only available in neighboring provinces such as Binh Duong, Dong Nai, Bac Giang , and Bac Ninh.

Not long ago, a report by the Ho Chi Minh City Real Estate Association (HoREA) also said that the affordable apartment segment (priced under VND25 million/m2) has completely disappeared from the Ho Chi Minh City market over the past 3 years.

The mid-range segment (price 25-40 million VND/m2) also only accounts for around 30%. The high-end segment (price over 40 million VND/m2) is always around 70% and will especially account for 78.2% in 2022.

In the recently announced report on housing and real estate market information in the fourth quarter of 2023 and the whole year of 2023, the Ministry of Construction said that in the fourth quarter of 2023, apartment prices continued to increase in Ho Chi Minh City and Hanoi, especially in the central area.

In the market, there are almost no projects in the affordable apartment segment (price under 25 million VND/m2), but mainly the mid-range segment (price 25-50 million VND) that are eligible to mobilize capital and trade.

Survey shows that many people are willing to spend 3 billion VND to buy an apartment.

Specifically, in Hanoi , in the fourth quarter of 2023, the synthesis report shows that some projects have an average price increase in the following areas: Thanh Xuan district increased by about 3.5%, Ha Dong district increased by about 3.7%; Hoang Mai district increased by 3.8%; Hoang Mai district increased by 3.8%; Nam Tu Liem district increased by about 4.1%.

A recent research unit's third-quarter 2023 market report shows that apartments are the type of real estate least affected by negative market impacts because this type serves real housing needs.

Accordingly, the level of interest in apartments has shown signs of recovery, with demand for buying apartments increasing by 1% and for renting increasing by 6% compared to the previous quarter.

Apartments priced between 2 and 4 billion VND are the most sought after. A recent survey by Dan Tri showed that 56% of the total opinions said they were willing to spend 3 billion VND to buy an apartment.

What job can I do to quickly buy a 3 billion dong apartment?

Statistics by Professor Dang Hung Vo at the end of 2022 showed that, with the average house price and income, the average Vietnamese person would have to work 100-120 years to buy a house in the city.

The question is, if you live and work in big cities like Hanoi or Ho Chi Minh City, how long does it take to buy an apartment with the current popular price of 3 billion VND?

This depends on the individual's income in the field they are working in.

According to data from FPT University Can Tho, currently 10 professions with incomes up to 8-9 figures per month include programmer, human resource manager, restaurant - hotel - tourism manager, flight attendant, pilot, bank manager, surgeon, real estate business, media - marketing, executive director.

Specifically, programmers have incomes ranging from 10 to 60 million VND/month depending on the position. Surgeons have incomes ranging from 35 to 100 million VND/month. The highest in this group is the executive director. This position has an income ranging from 80 to 300 million VND/month.

The executive director profession has the fastest income to buy a 3 billion VND house (Statistics: Moc An).

Because of the large variation in earnings across occupations, we will use the median as a measure. In statistical terms, the median is the middle number in a list of numbers arranged in ascending or descending order and can describe more about a data set than the mean.

Thus, the average income of programmers is 35 million VND/month according to the median measure. For bank managers, the average income is about 42 million VND/month. Pilots have an average income of 97.5 million VND/month. Executives have the highest average income with 190 million VND/month.

Assuming people in these professions spend 100% of their income on buying a house, it will take them from 16 to 150 months to own a 3 billion VND apartment.

The fastest in this group is the CEO, who only needs 1 year and 4 months of income to buy a 3 billion VND apartment. Next are the pilots, who only need 2 years and 7 months to buy a house. In third place are the surgeons with 3 years and 8 months of income. The human resource manager also only needs more than 4 years to buy a house.

It took a bank manager 6 years to buy a 3 billion VND apartment. Programmers 7 years and 2 months to buy a house. In this group, flight attendants took the longest, 12.5 years to buy a 3 billion VND apartment.

Source: https://dantri.com.vn/bat-dong-san/lam-nghe-gi-mua-duoc-chung-cu-3-ty-dong-tai-ha-noi-tphcm-nhanh-nhat-20240112151045012.htm