Mr Ninh’s house has 8m facade, 20m long, 3m wide, located on the busy street of Binh Tan district, HCM city. A couple of years ago, his family had two land plots to build a spacious house, the ground floor was the business area, the upper floor used for living.
The time when Mr. Ninh sold his house fell at the right time of land fever spreading throughout Saigon, in the second quarter of 2017. The reason for homeowners selling almost sure with the plan to invest and buy foreign property for children studying abroad, set up business, plus high prices, the interest is no less than 3 billion compared with a few years ago .
However, after his family organized several overseas trips to explore opportunities in the country, he withdrew his intention to invest overseas. The amount of 11 billion dong was brought back to Binh Tan, find another house similar to the one sold. In the fourth quarter of 2017, houses in Ho Chi Minh City have simultaneously set up new land prices, 8m street front houses similar to the old house in this area was screaming at 14-15 billion VND.
Before the scene of crying bad laugh, Ninh new break out of the sale and then not buy it. “At first my wife was happy because of interest 3 billion but now it’s new, it turns out that they are losing 4-5 billion. Now it’s only a way to find a small house than the old one, “he said.
General Director of Nam Phat Nam Investment Consultancy Company, Nguyen Mac Hoai Nam, said that the situation of selling real estate interest before the eyes and then back hole in the fever spread spread throughout Saigon is not rare. Even so, this strange story happened quite popular in the period of continuous hot market as in 2017 last.
Nam analyzes that, after the market has set new floor prices higher than before, the profit-taking is to help investors earn a certain profit compared to the initial capital. However, because of the hot market, the price after the previous price, so with the total cash flow to investors still can not find a repossessed property similar position.
“I have witnessed a number of cases where the investors rushed to take advantage of the sale of land and then shortly after a short whine to know that he was scandalized, even loss of billions because of not being able to buy a property. Equally worthwhile, “Nam said.
The expert said that in the case of Mr. Ninh, if still insist on buying a house sold or a similar location and scale, the script sure has to spend another 3-5 billion.
However, Mr. Ninh will still have many opportunities ahead if the hard-to-buy home area smaller, cheaper to live and business. The rest of the money is reinvested in land that is inferior to the facade but is relatively beautiful, which is located in the car alley.
General Director of Nam Phat Investment Consulting Company analyzes that, as long as the money is to be put into the market and given it a new spin on it, investors still have the opportunity to “revenge”. The market always plays the wave after the previous wave. Growth Cycle – Crisis – a repeat recovery in a sinusoidal pattern so that the investor, after taking profit, immediately determines the new target.
“Do not wait for the old house to fall down to buy it for less than or equal to the price you originally traded, because it is very unlikely. The hole is heavier due to the slide and the opportunity cost, “Nam said.