The market has fluctuated in recent months, but it also creates opportunities for young people to own their first home thanks to a series of preferential policies.
In Quy Nhon City (Binh Dinh), in recent years, tourism development has increased people’s incomes, keeping young people in their homeland to work and develop. In addition, this smokeless industry also creates many jobs, attracting abundant labor resources from the Central Highlands and other districts to live here. The amount of mechanical migration makes housing demand in this market increasingly larger.
According to experts, for those who have real housing needs, this is the right time to put down money because investors will have many preferential policies, offering new products that are more suitable to their needs. market. The price of new projects can be “easier to breathe”, enabling young people to own homes.
Thành phố Quy Nhơn nhìn từ trên cao. Ảnh: Nguyễn Phan Dũng Nhân
After many years of doing business in Quy Nhon market, Mr. Dung – director of a real estate trading floor said that the needs of young people to buy houses are also changing. Instead of choosing a townhouse, many open-minded people prefer to live in apartments to experience comfort and privacy. In addition to the problem of cash flow, young people also pay much attention to spacious, airy living spaces, many utilities and green areas to enjoy life.
“Up to 30% of the projects my company distributes are young people. They choose to buy affordable apartments to experience or rent them out,” Mr. Dung said.
However, there are not many projects put into operation properly in Quy Nhon. According to Mr. Dung, projects that both have preferential policies, flexible payment, and meet the needs of modern and dynamic living of young people will be well received by the market.
Grasping the market demand, Hung Thinh Land has also just launched the 9X apartment product line, providing the optimal solution to help young people own their first home. Based on the knowledge and experience in developing many housing projects across the country, the 9X apartment product line promises to create a new breeze in the real estate market. The first opening of the 9X apartment line is the 9X Quy Nhon project located in the center of the coastal city with many preferential policies and a distanced payment schedule. The project is expected to solve the problem of settlement for young people at a reasonable cost.
This project is highly appreciated for its convenient location because it is located in a densely populated area, well-planned, airy space, rich internal facilities, suitable for young people such as parks, promenade, large landscaped lake, busy commercial townhouse system… Fully functional apartment design, suitable for the needs of the family.
With a golden population structure and rapid urbanization, the housing needs of young people are very large. However, the market still lacks projects that are suitable for the finance of this customer group.
According to the Ministry of Construction, land prices are increasing compared to people’s incomes and in big cities there are almost no apartments under 25 million VND per square meter. The market is mainly mid-end apartments with the price of 30-50 million VND per square meter. The Ho Chi Minh City Real Estate Association (HoREA) pointed out that the real estate market is experiencing a shortage of housing supply, especially affordable commercial housing (affordable housing) and social housing.
In addition to the supply factor, one of the barriers that makes it difficult for young people to own a home is the tightening of home loan policies. Because for young people who do not have much accumulation, financial leverage is the optimal choice. Meanwhile, credit capital for real estate is not as abundant as before. Banks were forced to mobilize input capital with a sharp increase in interest rates, so the initial lending interest rate also increased accordingly.
These barriers occur not only in big cities like Hanoi and Ho Chi Minh City but also in other provinces like Nha Trang, Quy Nhon… While the demand for home ownership is large, the market lacks the supply of apartments. Affordable households with flexible payment policies suitable to the needs of young people.
