The savings interest rate has plummeted, prompting investors to pour billions into "bottom-fishing" for real estate.

Faced with savings interest rates continuously being adjusted sharply downward by banks, some investors with idle money have decided to move to the real estate channel in the hope that the market will recover and increase sharply in the next 3-5 years.



In late November and early December, a series of banks adjusted savings interest rates, bringing interest rates for many terms to a record low. Accordingly, Vietcombank's 12-month term interest rate has dropped to the lowest level in history at 4.8%, many other joint stock banks have also brought the highest deposit interest rate to around the 5%/year mark for 12 month term.


For example, HDBank 5.7%/year; Nam A Bank 5.5%/year; Eximbank, SHB, SeABank, TPBank together 5.4%/year; OCB, LPBank, VPBank, BIDV, VietinBank together 5.3%/year...



If you deposit for a longer term of 18 months or more, some banks are mobilizing interest rates above 6%/year such as HDBank 6.5%/year, Kienlongbank 6%/year, MSB 6.2%/year, Vietbank 6.2%/year, VietABank 6.1%/year, NCB 6%/year... while terms from 3 to less than 12 months are only around 3%/year.


Savings interest dropped sharply, causing a part of people with idle money to decide to change their investment channel. Mr. Phuong, 42 years old from Nam Dinh, is the owner of a refrigeration supplies store. He said he recently decided to spend 1.4 billion VND to buy 2 pieces of land at auction in his hometown.





This investor said that compared to the price during the land fever of up to 160-180 million VND/meter of road surface land (about 10 million VND/m2), the new auction land price in his hometown has decreased quite a lot. He hopes his land investment will be profitable in the next 3 to 5 years.




Land is always an investment channel that many people are interested in




No longer in a "defensive" position like over the past year, since the beginning of November, Mr. Anh - a real estate investor in Ha Dong, Hanoi and his investment group have been looking for land in the following areas: potential area. The criteria for buying into this investment group are plots of land worth 2-3 billion VND, with clear legal regulations, priority given to land in developed residential areas, and a road system with equal investment. set.





"In my opinion, this is the time of market recovery, buying real estate at this time brings more opportunities than risks. Cash flow is showing signs of shifting to real estate in the context of savings interest. continuously adjusted by banks to record low levels," Mr. Anh said.




Mr. Hai, a real estate broker in Hoa Lac, Hanoi, said that recently people's demand for investing in land has increased significantly. The segment targeted by investors fluctuates around 1-2 billion VND. Accordingly, in just the first days of December, his office successfully closed several dozen land transactions, even up to 9 successful transactions one day.





Similar to Mr. Hai, Mr. Minh Duc, a professional real estate investor in Ha Dong, Hanoi, is optimistic that the real estate market is showing good signs of recovery. Mr. Duc said that compared to the beginning of the year, recently the level of interest in real estate in Ha Dong, Hoai Duc,... of many investors has increased significantly.




Among them, the real estate segment from 1-2.5 billion VND receives the most attention. Every month he can buy and resell 4-5 transactions. This investor believes that right now is the early stage of the recovery process, so investment opportunities for those with idle money are huge.




"Except for apartments, prices of a series of other real estate products such as land, townhouses, houses in alleys... have stagnated and many products are still sold at a loss or deeply discounted by capital investors.




Thin faced financial pressure and was forced to sell assets to restructure their investment portfolio. Meanwhile, bank savings interest rates dropped sharply, so many people expected their land investment to generate income. generate profits in the next 3-5 years.

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