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Insiders say: Property market to bottom out at the end of the year

(Updated: 12/9/2022 3:17:17 PM)

Insiders expect that from December 15-30, business owners will likely be forced to sell the property at low prices. This time, there will also be many properties for sale with selling-offs.

Insiders say: Property market to bottom out at the end of the year

Insiders expect that from December 15-30, business owners will likely be forced to sell the property at low prices. This time, there will also be many properties for sale with selling-offs.

The scenario of the real estate market

The scenario of the real estate market is getting dark colors when facing lots of challenges. Vietnam's market lost liquidity, a lack of capital to implement approved projects, and a shortage of property supply. They lead to selling-offs, and individual investors strive to "retain" the past property waiting for price increases.

real estate market in Vietnam

Tran Khanh Quang - An insider said: "If the case does not change by March, I think the market will have different movements."

The market is currently volatile:

High-interest rates
Cash flow is scarce
A lack of liquidity
Issues related to bonds still need to be resolved.

More notably, the world economy is also unstable; the Ukraine-Russia war does not know how to develop.

"As in previous years, I can forecast how the quarters will turn out, but I have to consider and analyze the short term this year. In the short term, the market is going down, and everything is unclear; positive sign has not returned to the market, bonds do not know how to solve, and interest rates continue to increase," - Mr. Quang said.

Today's most severe difficulty is real estate businesses and production and business enterprises, which is cash flow. This year, the Lunar New Year falls on January 22, 2023, while other years fall in February. When the new year credit room opens, people start borrowing from banks in January to pay interest. , salary, etc. And this year, there is no new year credit room to compensate for that. Meanwhile, businesses have to settle debts, 13th-month salaries, and bonuses.

"There is a high possibility that business owners will be forced to sell real estate at a low price by the end of the year from December 15 to December 30 to solve the problems I raised, "said Mr. Quang.

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