D-Vela residence apartment project by Dreamhouse. (Photo: d-vela-dreamhouse.com)HCM City(VNA) – The real estate market in HCM City has continued its positive growthlate 2016 with many new projects launched, particularly in the mid-end segment,in the first quarter of this year.
Notable mid-endprojects include D-Vela residence apartment by Dreamhouse, Phu Hoi Urban Area,Him Lam Phu An residence apartment and Moonlight Boulevard and Richmond City byHung Thinh Corp.
According to CBREVietnam, the market welcomed more than 5,000 units from 21 projects in thefirst quarter of 2017, a decrease of 44 percent quarter-on-quarter. The mid-endsegment accounted for 52 percent of total newly launched units.
The average sellingprice reached 1,595 USD per sqm, up 6 percent from the previous quarter.
“The average priceswere quite flat across the market. While District 2’s average selling pricerose by 1.4 percent quarter-on-quarter and District 7’s by 1.9 per centquarter-on-quarter, other decentralised districts such as Binh Thanh District,Go Vap District and District 12 witnessed their selling prices increasing by1.5 – 3 percent quarter-on-quarter”, CBRE Vietnam said.
The selling pricesof ready-built villas/townhouses picked up 16-40 percent from the fourthquarter of 2016 in Thanh My Loi and Binh Trung Dong wards of District 2 whilein Nha Be District, Thu Duc District, Binh Chanh District and District 12, theselling prices rose by as much as 25 percent quarter-on-quarter, it added.
Data from the Housingand Real Estate Market Management Agency shows that real estate inventories inVietnam hit approximately 29 trillion VND in the first quarter of 2017, anincrease of 6.54 percent from the previous quarter.
Of the figure, theinventory of land plots contributed the biggest proportion of over 13.4trillion VND, or more than 3.4 million sqm, due to a large number of land lotsleft unsold in areas lacking infrastructure.
It was followed byvillas/townhouses with 3,620 units, worth about 7.9 trillion VND and residenceapartments with 3,505 units, worth over 5 trillion VND.
Real estateinventories in Hanoi fell by 1.56 percent, or 87 billion VND, lower than HCMCity’s reduction of 6.93 percent, or 402 billion VND.-VNA
VNA
