How high the price of gold affects real estate
Real estate temporarily suffered from gold taking the leading position in the group of safe shelters when the precious metal price constantly peaked.
Increasing consecutively one week, domestic gold prices constantly set new records. From around VND 51 million per tael on July 21, SJC gold price jumped to over VND 58 million in the morning of July 28, an increase of nearly VND 7 million within seven days. And this is also the highest price of all time that SJC gold has recorded so far.
Talking to VnExpress, Mr. Tran Khanh Quang, General Director of Viet An Hoa Real Estate Investment Company, said that in July, gold price movement continuously increased, disturbing the priority order of the first channels. Investment in the unpredictable uncertainty of financial markets. Real estate from the leading position in the group of safe shelter channels is temporarily giving way to the precious metal market. At the same time, cash flow to invest in real estate must split fire with the gold market.
Mr. Quang analyzed, for investors, channels: real estate, gold, securities and interest rates are important reference factors such as ventilating rule to make short, medium and long-term financial plans. and long term for future cash flows.
At this time, interest rates were completely inferior due to being adjusted lower than before, while the stock market had a lot of technical and unpredictable movements, these two balances had a relatively low position in the group of resident channels. hide safe. Real estate of the project group has not solved the problems of legal procedures, so only the land plots with the red book remain the attraction of investment capital flows, the influence is narrowed slightly.
Meanwhile, the continuous increase of gold price and anchoring at high prices in the context of unstable global economy has made this precious metal rise to the position of the highest priority shelter channel and attract the Great interest of investment cash flow. If the movements of the gold market continue to accelerate in the coming time when interest rates are flat, this precious metal may be considered to be prioritized by investors first, then to real estate and channels. other financing.