Real Estate Market: Still Silent

 

The main presence at real estate trading floors belongs to brokers of such companies. They are attentively learning about information on new projects and price of each project. When asked about his sales in June, an employee named T. at Vinatrust trading floor laments that he has been unable to sell any apartment for two months. “If this situation continues, perhaps I have to temporarily quit the job,” says him. He says that during recent months, his company also has a business, though it is more exciting than the beginning of the year, it is nothing compared to the fever in the end of 2007 and early 2008. Successful transactions are mainly from houses of a couple of billion Vietnamese dong. Land in projects and luxurious apartments make up a relatively low rate in the list of the company’s sales. The company has applied many methods to boost its sales, from raising the commission rate on the business turnover to promoting successful employees, but the desired effect still has not come up.

 

Price of property has recently increased. However, according to an experienced investor whose name is Khanh, investors have not really entered the market. He is also waiting for signals from the stock and credit markets. “By then, perhaps I will have to pay a higher price but profit is better and it is safer. Purchase at the moment can be risky.” He might be pondering on experiences he gained during the recent frozen period. He hopes that by the end of this year, the credit flow from the stock market and the government’s stimulus package will pour into the realty market, making it more exciting and he will be able to take back some of his money.

 

With the forecast that the property market will recover by the end of the year, trading floors have bravely expanded their operation and started to recruit employees. The recruitment in June is the third time that Vinatrust has recruited and trained staff. The number of staff recruited each time amounts to one hundred. The company will pay for a five-week training course so that its employees have adequate knowledge to work. Khang Thong Company has also recently opened an imposing 512 sq.m international trading floor on the 8^th floor of Khang Thong building at No. 67 Nguyen Thi Minh Khai St., District 1. Other companies like Sacomreal, Thao Dien, and ACB, etc. are also expanding their operation and recruiting more staff in preparation for the recovery period.