Hanoi real estates Market Trend in 2011

[manhhoangco]

Hệ thống quảng cáo SangNhuong.com

The waves on the real estate market have always been created by the “big guys”. Therefore, analysts have every reason to believe that the leave of a series of a lot of “big guys”, the real estate market would enter a “hibernation” period.

Big guys absent from market

For years, the Hanoi real estates has been the aiming point of investors from all provinces and cities of the country. The names of big groups of real estate traders from Quang Ninh, Bac Ninh, Phu Xuyen, Lang Son provinces have become well known on the market.

Observers believe that it was the big groups of traders which created big periodic short waves on the real estate market, especially the Hanoi real estates price was pushed up and then plummeted when banks tightened credit amid the investors’ surprise.

In July-August 2010, a real estate project in the west of Hanoi was opened for sale. The land price of the project soared from 55 million dong per square meter to 90 million dong per square meter just one month later. However, the price has later dropped to the initial level of 55-65 million dong per square meter.

Most recently, when the Hanoi real estates market was gloomy and the prices decreased in all the areas in Hanoi and around Hanoi, the Van Canh and Speldora Bac An Khanh projects’ prices still increased sharply by 7-10 million per square meters.

These are the two most typical examples about the abnormal price fluctuations on the Hanoi real estates market. This shows that the prices on the market have been defined by groups of big powerful traders. They try to push the prices up and then sell real estate products they have to make profit.

However, in some cases, when they fail to control the market prices, a lot of big guys have to announce their status of insolvency. And according to experts, the Hanoi real estates market will remain active as the approval of the master development plan will provide motivation to many projects but strong waves are unlikely.