Illustrative photo (Source: VNA)Hanoi (VNA) – The real estate market will welcome many newlaunches in the second quarter of 2017 and sales volumes will be higher thanthe last quarter, according to the Vietnam National Real Estate Association(VNREA).
The forecast was announced during a regular press briefing held by theVNREA to update the quarterly market data and outlook in Hanoi on April 21.
Speaking at the press briefing, VNREA Vice President Nguyen Manh Ha saidthe housing market in Vietnam barely budged in the first few months of 2017 dueto the traditional New Year holiday (when people were more likely to enjoy sometime off rather than search for a new home).
A quarterly growth of 29 percent in international tourist arrivals toVietnam in the first three months of this year coupled with 334 million USD inFDI poured into the country’s housing projects, a quarterly jump of 91.5percent, had a positive impact on the market, he added.
Meanwhile, the Vietnam Association of Realtors (VARS) recordedapproximately 18,340 transactions of land plots, residential and resortproperties during the first quarter of 2017, a decrease from the previousquarter as well as the same period of 2016.
Mid- and high-end residential apartments dominated the market in Hanoiand Ho Chi Minh City while central Da Nang city saw a boom in sales of landplots with over 1,000 successful transactions.
More than 3,620 apartments, equivalent to 312,300 sq.m, were sold inHanoi while the number tripled in Ho Chi Minh City with 9,808 units, or 742,700sq.m.
VARS Vice President Nguyen Van Dinh said there were few new launches oflow-cost housing and villas projects last quarter, leading to the stagnancy inthese segments.
A large number of mid-end apartments were rolled out in the west ofHanoi during March, notably Hanoi Paragon, La Casa Villa, Garden Hill My Dinh,Anland Complex, Xuan Mai Complex, Golden Field My Dinh, Pandora, and ParkRiverside while the south of Hanoi saw the launches of Eco Green Tower,Eco-Lake View, Sunshine Palace, Gelexia Riverside, Smile Building and theGolden Star.
New projects in Ho Chi Minh City include The Art, Citisoho, LuxGarden, CeladonCity, Green Town Binh Tan, Sun Square, Conic Skyway Residence, and The GoldenStar.-VNA
VNA
