ANALYSIS OF THE REAL ESTATE MARKET IN THE YEARS
Real estate is an extremely potential market, but through each period, each cycle, the real estate situation will have different changes. Today, let’s Real Estate 603 analyze the real estate market situation over the years to predict what the future of real estate will be like.
The situation of the real estate market over the years from past to present:
- The real estate market situation in 2003 – 2006 appeared in the form of subdivision for sale of plots:
“Land Law 2003” and “Resolution 181” with the requirement that “projects need to be built for infrastructure and then sold” have eliminated the phenomenon of “dividing plots for sale” that has strongly affected real estate prices. The real estate market almost froze when the storm of speculation fell sharply.
Since the end of 2003, the real estate market froze, the following year was colder than the previous year (in 2003 successful real estate transactions decreased by 28%, in 2004 by 56% and in 2005 by 78%).
- The situation of the real estate market developed strongly from 2014 to 2018:
The real estate market showed signs of recovery at the end of 2013 and developed sustainably: The number of transactions increased, the structure of real estate products changed in a positive direction, gradually matching people’s tastes.
In 2014, the Law on Real Estate Transactions was amended to open the door for people to buy land right in Vietnam. In the next phase, the market has new apartment products, including: Officetel, condotel, shophouse and industrial real estate.
In 2018, the land fever continued to take place in many localities across the country, hot fever in residential land and resort real estate…
018 is the year that is probably the year the market is extremely active, the tastes of users are also very diverse in terms of real estate, but the hottest is still the apartment and resort real estate model.
- The situation of the real estate market in 2019 to present:
Since the land fever of 2018, starting in 2019, real estate has slowed down, and the market has moved sideways.
Partly because of the impact of the Covit epidemic, people tend to hoard cash rather than invest. Partly due to the economic situation is in crisis period.
Accompanying that is that recently in mid-2022 there were a series of events that happened to real estate businesses, involved in the legal loan round, so it also affected the confidence of customers a lot.
- Assess the future of the real estate market:
According to market observations as well as many years in the industry, 603virtualstaging Real Estate shows that every recession cycle lasts about 2 to 3 years, after this crisis period, real estate changes direction and goes away. up afterwards.
According to observations and judgments, the real estate market at the end of 2023 and the beginning of 2024 will definitely return and stir up the real estate market in a positive direction.
So perhaps this is the right time to buy land, houses, apartments, long-term investment projects that you will definitely be profitable in the future.
Above is information about the real estate market over the years, and the future real estate assessment that 603virtualstaging sends to readers for reference.
Above is information about the real estate market over the years, and the future real estate assessment that 603virtualstaging sends to readers for reference.
PART 1: https://603virtualstaging.com/?p=442&preview=true
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