Despite many mixed happenings in the market and the sweeping Covid epidemic, the apartment segment in Ho Chi Minh City still had an optimistic trading month.
Based on the May 2021 market report of vicenland.com, some other types of real estate often decline in transactions and buying demand beneath the impact of the pandemic, apartments would be the type. only recorded a rise in buying demand in both HCMC and Hanoi markets.
Specifically, in May 2021 alone, apartments and villas are two rare forms of products that recorded an increase in interest and purchase while plots of land, townhouses, and project land all fell sharply..The quantity of interest to buy apartments increased by 3.3% compared to the previous April, while the number of searches for villas also increased by 4.5%. Demand for apartments in Hanoi increased by 12% compared to April 2021 during Ho Chi Minh City, this number increased by 8%. The merchandise line that recorded high buying demand mainly came from mid-high-end apartment for sale in Ho Chi Minh City products with a cost range of 40 million VND/m2 or maybe more, an average increase of 7-9% in the Ho Chi Minh City market and 14-16% in Hanoi market.
Not just the demand for buying and selling increased, the selling price of apartments in Ho Chi Minh City also continued to record a linear trend before May. Accordingly, the selling price of apartments in several suburban districts increased by 1% compared to April 2021 and 5% compared to the same period in 2020. In particular, the amount of advertisements for apartment products for sale. Industry in May showed signs of a decrease greater than 3% set alongside the previous month. The biggest decline in supply was in the type of mid-high-end apartments for sale.
The actual fact from market transactions in May also shows that many new apartment projects offered available before the full time of social distancing under Directive 15 recorded good consumption regardless of the epidemic. The majority of the goods are of high quality, scale and prestige of large investors, in the cost selection of VND 40-50 million/m2. Specifically, through the opening sale of an apartment project in Mizuki Park urban area (Binh Chanh) in early May, Nam Long investor stated that even though it was the week of the epidemic, how many customers visiting the project increased. 40% more compared to previous April. Significantly more than 600 isolated apartments of Mizuki Park project were successfully transacted within 5 hours, which 60% of transaction demand was from investment buyers. Although this project will be offered on the market in phase 2, the existing price has increased by significantly more than 30-40% set alongside the first phase, reaching nearly 40 million/m2, but many investors still consider this a soft price with a apartment project deployed in a large-scale and closed urban area in Ho Chi Minh City.
Another project of Nam Long investor, Akari Binh Tan apartment, also recorded a growth in buying demand in the last week. Accordingly, the amount of visitors to the project increased by more than 40% compared to the previous month. Compared with projects in the East – South area, Akari Binh Tan is really a mid-range housing project, the price is approximately 35-38 million/m2, ideal for many buyers wishing to be in down. In fact, over 808 of customers buying this project are buyers to reside in. Along with the above two primary projects, a great many other apartment projects are increasingly being implemented in the vicinity of Ho Chi Minh City with the purchase price range of 37-60 million VND/m2 such as for example LDG Sky; Bcons Plaza, Bcons Sala; PiCity apartment (District 12); Sunshine City, Sunshine Diamond River District 7, Celesta Rise in Nha Be all recorded good buying demand in May.
Explaining the reason why apartments in Ho Chi Minh City still record high demand, experts say that the limited supply whilst the high absorption capacity of the marketplace may be the factor which makes this kind of apartment regardless of the high price. continued to escalate however the demand did not decrease. With regards to apartment supply, Ho Chi Minh City in the initial 5 months of the season only had about 8 projects on the market, the supply of about 3,422 apartments, about 2-3 projects of of in the mid-range price range. Meanwhile, the consumption of apartments in the complete HCMC market reached 6,460 products, a lot of the buyers are having to deal with the backlog of secondary goods.
CONTACT BUSINESS ROOM: (+84) 0928888222 (viber)