The real estate market in August 2021 cooled down on transactions due to the impact of the widespread social distancing period. However, there are still markets that are considered bright spots to attract buying demand.

Supply and demand dropped sharply across the country

The August 2021 market report of Batdongsan.com.vn shows that the market in August was negatively affected by the epidemic, making the overall picture quite bleak.

Accordingly, the total number of listings for real estate sales in August 2021 decreased by 58% compared to the previous month and 75% compared to the same period last year. Interest in housing search across the market in August also decreased by 27% compared to August and 39% over the same period. Single-family homes, condominiums and land plots were the segments that recorded the strongest decline with the total number of listings for sale decreasing by an average of 53-68% while the demand for these segments also decreased by 29-39% only. in 1 month.

The total number of postings and the level of interest in real estate nationwide both decreased sharply in August 2021. Source: Batdongsabn.com.vn.

The strongest decrease was recorded in provinces and cities with high infections such as Ho Chi Minh City, Binh Duong, Dong Nai, Da Nang, Khanh Hoa, and Hanoi. Specifically, in Hanoi, the source of real estate offers decreased by 68% while the level of real estate interest decreased by 36% compared to the previous month. Similarly, Ho Chi Minh City recorded a 17% decrease in demand for real estate and a decrease in the number of listings for sale by 59%. Despite a drop in interest, apartment price indexes in Hanoi and Ho Chi Minh City were stable in August and increased by 8-9% year-on-year.

In the provinces and cities where the disease outbreak is strong, the level of interest in buying and selling real estate has decreased sharply. Binh Duong province recorded a 40% decrease in real estate search demand while Dong Nai also fell by nearly 35%. Da Nang is the locality that recorded the strongest drop of nearly 49% while Khanh Hoa also recorded a 25% decrease in demand.

The market still has bright spots

The real estate market was generally affected by the long-distance decision, the real estate transaction was almost "stagnant". However, there are still some bright spots in real estate that attract homebuyers and investors despite the epidemic such as Bac Giang, Hai Phong, Bac Ninh and Lam Dong. These are the localities where the level of interest in buying real estate has not decreased but also has increased.

Some localities still recorded an increase in demand for finding housing during the Covid 19 quarantine period. Source: Batdongsan.com.vn

Specifically, according to Batdongsan.com.vn's August report, the demand for housing in Bac Giang recorded an increase of nearly 26%, while Hai Phong and Bac Ninh also increased by 8% and 7%, respectively. . Lam Dong is the southern province where the demand for real estate increased by 3% during the time of the raging pandemic.

Not only that, although it is the locality that is suffering the most from Covid-19, but Ho Chi Minh City still shows its attractiveness and is the most popular housing market in the country. While the number of infections in Ho Chi Minh City tends to increase many times compared to other localities, the demand and interest for this market still recorded the highest level, the decrease was only about 17%. compared with 35-40% in Hanoi, Binh Duong or other epidemic-hit provinces.

Commenting on the market in the coming September, real estate experts believe that there will be more or less prosperity in the period of late September and early October when many localities relax the distance order and big cities slowly. go into economic restart. However, it will be difficult for the market to recover immediately, but it must last until the last months of the year.

Source: Batdongsan.com.vn