With the heaviest damage but also the strongest "rebound", the real estate market in Ho Chi Minh City is forecasted to recover in November equivalent to the milestone of April 2021, which is the period immediately after the land fever hit the city. peak in March 2021...

In the first 9 months of 2021, the real estate market experienced many ups and downs. After experiencing the land fever, the 4th Covid-19 pandemic hit in late April and early May.

If we take the peak of the land fever in March 2021 as a landmark, the level of interest in the market by May will drop to 80% of the peak of the fever.

"When we started having the first Covid-19 cases of the 4th wave of the epidemic and started to distance ourselves, the level of concern dropped from 80% to 65% of the peak," Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn - shared in the recent announcement of the real estate market report for the third quarter of 2021.

At the time of implementing comprehensive distance, the level of concern was only 30%. However, a good sign that Mr. Quoc Anh shared is that this level of interest, after reaching the bottom around the end of August, began to show signs of going up.

"By the end of September, interest level had reached 55% compared to March 2021. If compared to the bottom, interest is clearly up 80-90%, this is a positive sign of market recovery. ", Mr. Quoc Anh compared.

Market forecast for Q4/2021, with the assumption that the number of Covid-19 cases is zero, will not increase again in Q4, cities will reopen for economic activities and people in the whole city will receive the 2nd injection in October. Along with the good recovery of the economy, Mr. Quoc Anh believes that the two economic locomotives, Hanoi and Ho Chi Minh City, will recover quickly.

Specifically, the level of interest in the Hanoi real estate market right in October may return to the pre-epidemic level of interest (July 2021), and in November and December, the level of interest will be similar. May 2021 - when the market is still warm after the land fever peaked in March 2021.

With the heaviest damage but also the strongest "rebound", the real estate market in Ho Chi Minh City is forecasted to recover in November, equivalent to the milestone of April 2021.

The real estate market in Da Nang will recover more slowly, by December, it will return to the pre-epidemic period, due to product characteristics associated with tourism and resort real estate, which needs more recovery time than other types of real estate. other real estate.

Regarding the price trend, real estate prices in Ho Chi Minh City and Hanoi still show no signs of decreasing, even increasing sharply over the same period. Accordingly, the asking price of apartments in Ho Chi Minh City in August tended to be flat compared to July but increased by nearly 9% compared to the same period in 2020. Hanoi continued to record an increase in apartment prices by 8. % over the same period.

Source: Cafef