After a marketing campaign, real estate prices are usually 20-30% higher than the original base price. Residential buyers and investors should take note of the three common price increases of a real estate project.
General Director of Viet An Hoa Real Estate Company, Tran Khanh Quang, said that in the past half decade, real estate price increases have been erratic due to many fevers. When being pumped with high expectations, the price fever will occur. Therefore, when buying real estate, buyers need to understand at what stage the price lies at the property they buy.
As noted by Batdongsan.com.vn, the project’s real estate price increases or decreases depending on many influencing factors, but there will be a number of common price increases as follows:
1. Open periods after the first installment
If in the “launching stage”, when the investor launches a small amount of goods to explore the market with the lowest selling price, when the next subdivision is opened for sale, the selling price will increase slightly by about 5- ten%. During this period, the selling price in the first zone usually increased by 1-2%.
This is the stage when buyers determine whether the project is on schedule as committed or not.
many tall buildings in the city
The selling price of real estate at the time before handover is usually 10-15% higher than the previous period
2. Before handing over
When the project is about to be handed over, transactions are now very active, prices usually increase 10-15% compared to the previous period. Because the investor enhances the branding, some free services … to enhance the after-sales stage. Buyers can buy in the old zone for a better price.
At this point, the project has been basically completed, has utilities, buyers can clearly visualize their whereabouts, so it will be easier to find out. This is the time when buyers can evaluate the reputation of the investor as well as the quality of the items committed by the investor.
3. Infrastructure completion and handing over stage
Internal and external infrastructure information can cause real estate prices to spike. In particular, in recent years, more and more projects “owe” the red book of residents, the investor’s handover of the book is considered an expensive plus, creating confidence in the legality of the buyer.
This is also the reason why many investors choose to sell goods in the past or invest in leasing because of a large customer base.