A steady economic growth rate, the new Property Business Law and therevised Housing Law, which took effect on July 1, are encouraging therecovery of the property market which has suffered a long period ofdownturns.
Statistics showed since thebeginning of this year, 5,137 flats have been made available in themarket, up to 1,518 of which are considered high-grade.
Despite an increase in prices, around 4,480 high-class flats weresold in the second quarter, up 80 percent against the same period, andaccounted for about 22 percent of the total transactions in the firstsix months, as compared with 6 percent in 2013 and 18 percent in 2014.
Prices of luxury flats are also rising,increasing from 4-6 percent from one year ago, especially for projectswith advantageous locations.
Meanwhile, therewas a decline in the real estate market’s segment of plain flats withthe number of transactions accounting for only 26 percent, a strong dropfrom 49 percent in 2013 and 33 percent in 2014.
According to experts, the luxury real estate market will continue togrow with positive economic prospects and key infrastructure projects.-VNA
Statistics showed since thebeginning of this year, 5,137 flats have been made available in themarket, up to 1,518 of which are considered high-grade.
Despite an increase in prices, around 4,480 high-class flats weresold in the second quarter, up 80 percent against the same period, andaccounted for about 22 percent of the total transactions in the firstsix months, as compared with 6 percent in 2013 and 18 percent in 2014.
Prices of luxury flats are also rising,increasing from 4-6 percent from one year ago, especially for projectswith advantageous locations.
Meanwhile, therewas a decline in the real estate market’s segment of plain flats withthe number of transactions accounting for only 26 percent, a strong dropfrom 49 percent in 2013 and 33 percent in 2014.
According to experts, the luxury real estate market will continue togrow with positive economic prospects and key infrastructure projects.-VNA
