1. Homeowners have no client and forced to reduce prices.
Due to the negative effects of the Covid-19 epidemic, pupils and students of schools across the country have been absent from school during the past time.
The fact that students of colleges and universities in Hanoi continue to be absent in the coming time, making the housing business, especially student houses, face challenges and difficulties. According to many motel owners, in the past time the number of students checking out was higher than usual. Meanwhile, it is not easy to find new tenants at this time due to the large number of vacant rooms, not to mention many new inns after the construction period is put into operation.
Ms. Thanh, who owns a 15-room inn for rent in Nguyen Trai, Thanh Xuan, said that there are seven guest rooms that students pay from the Lunar New Year holiday period but have not been able to find new guests for several months.
Similarly, Trang (Cau Giay, Hanoi), owner of a mini apartment with 19 rooms for rent), said that the number of rooms returned by students accounted for two-thirds.
She said the price of her family’s mini apartment is ranging from 1.5 to 2.5 million VND / month (excluding electricity, water and internet). All rooms are furnished with air conditioning, hot and cold, beds, cabinets, kitchen shelves, fingerprint lock, elevator, washing machine, security cameras, free parking on the first floor. To find new tenants, Her family has also decided to lower the room and service rates in March.
However, students in colleges and universities in the region are all in the middle of the Covid-19 epidemic prevention period, so finding new tenants is difficult. Many days she posted on the website, online forum but did not have visitors to ask because the number of ads for renting student accommodation at this time appeared smoothly in all areas with competitive prices.
The continuous decline in sales during the Covid-19 season is the story shared by the sales manager of HOMINIUM INC, a company with nearly 100 serviced apartments in Tay Ho area. He said that the number of apartments managed by him is 97% foreigner, 90% of the employees and family members account for 10% with prices ranging from 350USD to 1500USD /month.
He also admits that due to the long absence of students from schools, the number of tenants who are English teachers paying rooms is higher than usual. Meanwhile, the number of guests who are working in other fields and households renting is still stable.
Michael said that due to business services, every time guests check out, HOMINIUM is significantly affected not only on economic issues but also many other issues. Before the complicated situation of Covid-19, the company has launched many solutions to support its customers such as payment extension, discount up to 30% for old customers, discounts up to 20%. for new contracts.
From the inn to the apartment, up to now (April 13, 2020) the situation is still the same.
2. Brokers are stressed to looking for customers and even considering switching jobs.
As noted, the general situation is that many brokers have not been able to stand on the real estate market since before the Lunar New Year due to oversupply, but demand is nowhere to be seen. Many brokers of businesses have “long-term Tet holiday” because businesses have difficulties.
The remaining brokers on the market started to “struggle” to sell in the epidemic season. Although it has used forms such as using technology to sell online, supporting customers to view products online, discounting “hard” more … but perhaps not quite satisfactory, but sometimes customers buy in real and investors are in psychological worry about the disease.
As noted, during the period after Tet there were many unemployed brokers, applying for other jobs to deal with immediate difficulties. A head of the human resources department of a major car distribution company in Ho Chi Minh City shared in the press recently that in the past two months, 50 sales staff have been recruited for the new branch. other automakers passed, or new graduates of economics. But in this recruitment round, up to 70% of candidates from real estate companies. Most of them are people who can no longer stand with the real estate market when the supply is scarce, the disease is raging.
The broker without a job, moving to another job may not be too new in the current market context. As the real estate market is quiet unprecedented in the past 4 years. Many brokers have switched to grab, sell seafood or sell their home-cooked specialties online in urban areas … With brokers who have to take a break due to hardships, according to the exchanges, they still keep their relationship with them. do business when the opportunity arises.
According to the Vietnam Real Estate Brokers Association, 100% of real estate brokers and individuals are affected by the disease situation; due to the lack of attention from customers and investors because of anti-epidemic concerns. According to records from the region, about 50% of the exchanges have to close, with many individuals real estate brokers unemployed.
Mr. Nguyen Van Dinh, Vice President of Vietnam Real Estate Brokers Association, acknowledged that the real estate market has been in trouble since mid-2018 due to the tight cash flow control policy. By the end of 2019, the market manifested difficulties more clearly because of less capital inflows, more projects but no buyers, so investors faced difficulties, so the real estate brokerage industry also struggled.
By the beginning of 2020, the epidemic was complicated. “Out of about 1,000 enterprises operating in the brokerage sector, up to 1/3 of real estate trading floors had to close. Besides, about 500 exchanges had to temporarily suspend a partial operation. These are floors that still have stock to sell because there are still sales contracts signed with the investor. This is the time when the market is the most tragic in recent decades, “Mr. Dinh added.
According to experts in the industry, the real estate market is “difficult to get in trouble”, so it is necessary to have support mechanisms so as not to cause bad effects on the economy. The representative of the Housing and Real Estate Market Management Department, Ministry of Construction, also said that the real estate market’s common difficulties, including a series of real estate, real estate brokers, were reported to government.