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| To stimulate liquidity, many real estate companies have deeply reduced product prices. |
Lower price to stimulate liquidity
Ho Chi Minh City Real Estate Association (HoREA) made a pessimistic assessment of the real estate market in the last months of 2022. Accordingly, the market is likely to fall into a recession. Many real estate corporations and businesses are facing many difficulties, profits plummeted, and even suffered losses.
Faced with that situation, HoREA suggested the Government and the State Bank to consider loosening the credit ceiling by 1-2% to provide an additional 100,000-200,000 billion dong to support the economy during the peak period at the end of the year.
Mr. Tran Khanh Quang, General Director of Viet An Hoa Company, expressed that he did not expect this petition to be approved, because one of the clear messages was the effort to control inflation and ensure safety. banking system. Not to mention, in the current context, it is difficult to pump more credit for production and business industries, not to mention real estate.
Unable to rely on credit cash flow, in order to survive and wait for market opportunities to recover, businesses have the only way to accept the sacrifice of profits.
Recently, a large real estate investor in Ho Chi Minh City has launched a preferential policy of up to 50% for customers who buy townhouses, shophouses, villas in a mega -urban project in Dong Nai. Up to 6 incentive policies are allowed to accumulate, of which the quick payment discount is up to 30%, the rest is the policy of sublease commitment, vouchers, interior gift packages…
Accordingly, with a shophouse with an area of 195 m2 with a listed price of VND 15.3 billion, when adding all the preferential policies, the selling price will be only VND 7.8 billion (excluding value added tax). ). With this policy, a shophouse with basic finishing on the outside and the raw inside is listed at VND 13.1 billion, but it will only be VND 6 billion if the customer pays 95%.
At the projects of An Gia Group, the investor offers a fairly open promotion policy when customers buy townhouses only need to pay 15% in advance, then pay according to the progress from 2% / month for 18 months. . At the same time, this business also increased 2% discount for shareholders or customers in some areas, 1% discount for loyal customers.
Other big investors such as Hung Thinh, Phu Long, Phuc Dat… are also planning to open sales at the end of the year with great promotions, even promotions, discounts up to 50% of product value if customers immediate payment of 95% of the property value.
“At this point, complaining does not solve anything, but instead, businesses should sit together to calculate the selling price, sales policy, and costs for the parties to overcome the challenge together.” Mr. Pham Lam, General Director of DKRA Group Company shared.
Aiming at real housing needs
It can be seen that, from the end of the third quarter of 2022 up to now, real estate businesses are making efforts to stimulate liquidity by deeply discounting and reducing prices. This strategy helps businesses solve all three problems: increase liquidity; reduce inventory sources; have a part of capital to cover costs and invest in completing unfinished projects.
However, according to the leader of a real estate business, just the enterprise’s efforts are not enough. “Business tricks are only a part, need more intervention from the Government on stimulating demand, such as supporting people with real housing needs to get loans to buy houses, focusing on supporting businesses to build affordable housing. low-cost, social housing, because this is still the segment that the market is in dire need of,” he said, emphasizing that in order for the bright market to return to the original market, it is a segment that focuses on real housing needs. .
The fact has proven that owning a house to live in is a great need of people, especially in the affordable segment. Enterprises specializing in developing this product line still recorded good absorption rates, while many businesses in the same industry struggled to sell, even the quarter did not record revenue from the core business.
A representative of Nam Long Company – an enterprise specializing in the development of low-cost housing products said that difficulties in accessing capital partly affect sales plans, but the business is confident with its development strategy. reasonably priced housing. The product is not only welcomed by customers, but also supported by banks even in the context of tight real estate credit.
“All three projects we are implementing in Ho Chi Minh City and Long An have recorded positive absorption rates. Looking back at the 3 quarters of the year, sales have reached about 9,900 billion dong, double the same period. Particularly in the third quarter, the company had nearly 3,800 billion dong paid in advance by buyers, an increase of 56% compared to the beginning of the year. This amount is the customer’s deposit to buy the product, which will be recorded as revenue and profit when the project is eligible for handover, “said Nam Long’s representative.
According to Mr. Tran Hien Phuong, General Director of SeaHoldings Company, although he still knows that it will be difficult to propose to increase the credit room by 1-2%, he also expects the Government to consider it, even if it does not create a surprise. changes for the market, but in the short term will increase confidence for people and businesses.
“Currently, even though businesses can sell houses, customers deposit, even pay up to 30% of the product value, many banks do not disburse because of running out of room, causing home buyers to suffer. This important capital calling channel of the business is also blocked, “Mr. Phuong analyzed.