3:43:50 PM | 25/2/2011
Making a travel around big real estate markets in Hanoi such as Ha Dong, Tran Thai Tong, Hoang Ngan, My Dinh, Dong Anh and Gia Lam, the atmosphere at the beginning of the year seems not to be effervescent. According to a realty consultant, the circle of realty speculators expects the year’s two main crops in April and October, and only getting one profitable deal they can have enough to eat for the whole year.
Only a few transaction centers of real estate open from the sixth of lunar year (February 8 in accordance with solar calendar), a majority has still closed. Many experts believe the Hanoi realty market will continue being prospered.
Two crops a year
The Viglacera Land transaction floor of realty also opens on January 6 of lunar year. Tran Ngoc Tuan Anh, head of Viglacera Land’s department of market development said there have had some customers coming to the floor these days, mainly for progress payment rather than new transaction. Early the year, some abstain from laying money out, but some trend to buy house to get luck. Obviously, the spirit belongs to view of each, Tuan Anh said.
Such transaction may be seen at big floors of companies while almost all of private realty centers have not yet opened.
Thu Nguyet, consultant of the Bao Long realty center in Ha Dong district said speculators expect only the two main crops annually in April and October. The time after Tet holiday, investors are busy with worship tours at pagodas and temples till the end of January.
Nguyet reminded the land fever in Ba Vi in April, 2010 and another in October of the same year along roads relating to the 1,000th Thang Long-Hanoi event, saying that not only in 2010, April and October annually are the times the realty market waves. Speculators take advantage of the times to get big deals and only getting one profitable deal, they can be well-to-do for the whole year.
Big Plan for 2011
Although realty companies have not yet officially started the market of 2011, leaders of many units have felt highly enthusiastic with big plans this year.
Le Quoc Hung, executive director of the Vietnam city development joint stock company (Vinacity) said the Hanoi market will see a year of growth and stability. The realty is still considered to be a safe and attractive choice for investors. People who have good vision and strategy for their capital, the opportunity to get profits will be very high, Hung said.
However, he added 2011 will see challenges, for example the clear segmentation of products and fierce competition to occupy the market share. Particularly, the segmentation of luxury realty will be more difficult and the market will be more convenient for customers.
Hung said his company plans to develop services and get access to more investors. The Vinacity will also aim at projects which ensure legality, location, quality and reasonable prices in order to meet the demand of people who really need accommodation and investors having less capital.
Le Khac Hiep, chairman of the Vincom joint stock company said the company will continue to focus on the field of realty as its spearhead sector in 2011. Specially, the Vincom will speed up a number of big projects in Hanoi and Ho Chi Minh City such as Eden A complex in District 1, Ho Chi Minh City; Royal City in 72A Nguyen Trai street, Eco City in 460 Minh Khai and Vincom Village in Sai Dong, Hanoi. Keeping the prestige and status of Vietnam’s leading trademark in realty business and management is our purpose, Hiep said.
In 2010, many southern realty companies moved to the northern market, including the Him Lam group. Truong Chi Kien, vice director of Him Lam Hanoi said the northern realty market in general and that of Hanoi in particular has plentiful potentials.
In my opinion, the northern market owns two advantages of the high demand and payment capability, Kien said. Our company aims to apply a flexible and various strategy in the realty value chain. Thus, Him Lam will invest in all segmentations in a bid to maximize profits for both enterprise and the community.
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