N.V.T. in Thu Duc City (HCM City) has been looking to buy an apartment over the past two years, but he cannot find one. He has VND2 billion but apartments up for sale are much VND50-60 million per sq m.

Unable to buy an apartment in HCM City, he decided to buy an apartment in the neighboring province of Binh Duong. However, the prices were not as low as he thought, averaging VND40 million per sqm.

Recently, he heard that a mid-end apartment project in Di An City (Binh Duong) was about to open, priced about VND2 billion for an apartment. However, when he called the project developer, they said the sale had been postponed.

Binh Duong has many real estate projects but developers are now reluctant to launch new products. Two apartment projects have just postponed their sale plan until the second quarter in 2023.

As many real estate developers have postponed their sale plans, housing supply has dropped at the year-end period. However, some big developers are still going ahead with their sale plans, mainly in the mid- and high-end segments.

Some experts say that the market will be quiet until the end of the year. However, if developers have good products, market liquidity would be stable.

“I think there won’t be space for speculators and those who set sky-high prices in the current period,” said real estate expert Tran Khanh Quang, adding that the property market will still be difficult until the second quarter in 2023.

Duong Thuy Dung from CBRE Vietnam said it would be better to target medium- and long-term investment now instead of surfing investments.

Anh Phuong