1:33:57 PM | 9/8/2010
As many as 61.9% of property purchasers in Hanoi are set for investments, according to a survey announced by the Vietnam Report recently.
The number of people buying properties for living is just 38.1%, the survey which covers almost 500 samples in Hanoi real estate market showed. Properties in Tu Liem and Ha Dong areas have brought many benefits to investors, it noted.
Up to 47.7% of those buying properties for investment purposes are short-term investors who quickly sell to get profit while the remainders purchase properties for long-term investment and leasing.
The survey indicated that 44% of funds poured into real estate market is equity capital, followed by loans from friends and relatives, accounting for 35%. Only 20% of the total investors in the survey said they would use bank loans to invest in real estate.
The Vietnam Report also predicted that Hanoi real estate market would tend to be more stable in the last six months of 2010.
The price fever in the first half of the year is unlikely to reoccur, especially in the segment for land use rights. In the second half, the speculative cash flow in Hanoi area may shift to other markets that have potential to bring higher short-term profits.
Property prices, especially those for land use rights are most likely to stay unchanged, and may even fall slightly in the coming months.
The trend to sell speculative properties to take profit would become rather popular. Apartment transactions may be more ebullient in Hanoi, focusing on consumers who wish to buy properties for living purposes, it added.
B.T
Vietnamese
