Behind the trick of "cutting losses" on real estate worth hundreds of millions of dong in the "ghost month"

According to a real estate website, a service land plot with an area of ​​about 70 square meters in Hoai Duc (Hanoi) is being advertised for sale with the following content: Due to urgent need for money, liquidating the land plot during the ghost month for more than 70 million VND/square meter.

Contacting the phone number for sale, the broker said that at the beginning of the year, land in this area was priced at no less than 80 million VND per square meter. Because it was the ghost month, the landowner had to accept a "loss cut" to get the above price to get rid of the goods.

Surveying the land segment, the "loss-cutting" wave still shows no signs of cooling down.

An account advertised for sale "cutting losses in the ghost month" a fund of nearly 10 lots with a 10m frontage along National Highway 6 (Hoa Binh) at a price of 15 million VND/m2.

According to information, last year, these plots of land cost from 25 to 30 million VND/m2. Thus, the landowner accepted a reduction of up to 50%.

Mr. Do Thanh, director of a real estate trading floor in Ha Dong (Hanoi), assessed that in the past few years, the concept of buying and selling real estate in the “ghost month” has changed. Many people believe that in the “ghost month”, investors often launch many good policies, so this is an opportunity to hunt for real estate at good prices.

“Looking at the reality of real estate from last year until now, the market has always been in a state of low liquidity, especially in the land segment, so the price reduction has been going on for a long time, not just in the ghost month. This price reduction in some areas is actually an adjustment to the real value after a period of “inflation” and hot growth, so customers need to be alert to the tricks of brokers selling at “losses” and “deep discounts”,” said Mr. Thanh.

Ms. Thu Thuy (Hoang Mai, Hanoi) said that she is in need of buying a townhouse, her family has been looking to buy and surveying on real estate websites for many months now. When entering the ghost month, a series of real estates are being advertised for sale at attractive prices. Some houses are being advertised for sale at a discount of 500 - 600 million VND. Some houses are even being advertised for sale at a discount of 800 million VND with the content applied in July, only need to pay a deposit.

“Recently, my family saw information about a house for sale in Ha Dong with a price reduction of up to 600 million during the ghost month. However, after a week of research and information from many friends, the price has not decreased compared to 1-2 months ago. This is just a trick of the broker to attract attention,” Ms. Thuy shared.

Mr. Dang D., a real estate broker with many years of experience, said that apartments and houses in alleys for sale at a loss do exist, but they are very rare. And the “loss” value is not much, so most of the loss-cutting ads are just a trick to appeal to buyers’ psychology.

Mr. D. shared that brokers also have to pay fees to post ads or display ads in good locations, so they need to think of ways to attract customers, in which the most attractive factor is price. Content such as "cut loss, deep discount, shock discount, urgent sale, urgent liquidation"... are often used by brokers. When customers call, brokers will introduce and market other apartments to them or collect information from customers with real needs.

Real estate experts also acknowledge that buying and selling real estate during the ghost month is no longer too psychologically burdensome. However, buyers need to consider many factors, the most important of which are financial suitability, needs, and be wary of “shocking discounts” in brokers’ sales information.

The expert warned that the real estate market is still quite gloomy, however, in segments that meet the real needs of people such as houses in alleys priced at several billion, mid-range apartments, old apartments... there is always a lot of demand so there is no possibility of a price reduction of several hundred million dong in a short time.