Real Estate News Ho Chi Minh City, Vietnam

Despite many mixed happenings available in the market and the sweeping Covid epidemic, the apartment segment in Ho Chi Minh City still had an optimistic trading month.

According to the May 2021 market report of vicenland.com, while most other forms of real estate often decline in transactions and buying demand under the impact of the pandemic, apartments are 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 types of products that recorded a growth in interest and purchase while plots of land, townhouses, and project land all fell sharply..The total amount of interest to get apartments increased by 3.3% set alongside the previous April, while the amount of pursuit of 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 bat dong san quan 8%. The merchandise line that recorded high buying demand mainly originated from mid-high-end apartment products with a budget range of 40 million VND/m2 or even more, the 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 in the past May. Accordingly, the selling price of apartments in many 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. The marketplace in May showed signs of a decrease greater than 3% set alongside the previous month. The largest reduction in supply was in the type of mid-high-end apartments for sale.

The actual fact from market transactions in Can also shows that lots of new apartment projects offered for sale before the time of social distancing under Directive 15 recorded good consumption regardless of the epidemic. All the items are of good quality, scale and prestige of large investors, in the cost range of VND 40-50 million/m2. Specifically, during the opening sale of a flat project in Mizuki Park urban area (Binh Chanh) in early May, Nam Long investor said that though it was the week of the epidemic, the amount of customers visiting the project increased. 40% more compared to previous April. More than 600 isolated apartments of Mizuki Park project were successfully transacted within 5 hours, of which 60% of transaction demand was from investment buyers. Although this project will be offered for sale in phase 2, the existing price has increased by more than 30-40% set alongside the first phase, reaching nearly 40 million/m2, but many investors still look at 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 an increase in buying demand within the last week. Accordingly, the number 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 a mid-range housing project, the price is about 35-38 million/m2, suited to many buyers wishing to stay down. In fact, over 808 of customers buying this project are buyers to call home in. In addition to the above two primary projects, many other apartment projects are being implemented in the vicinity of Ho Chi Minh City with the price selection 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 claim that the limited supply as the high absorption capacity of the market may be the factor that produces this sort of apartment despite the high price. continued to escalate but the demand didn’t decrease. In terms of apartment supply, Ho Chi Minh City in the first 5 months of the season only had about 8 projects on the market, the way to obtain about 3,422 apartments, about 2-3 projects of of in the mid-range price range. Meanwhile, the use of apartments in the whole HCMC market reached 6,460 products, the majority of the buyers are experiencing to manage the backlog of secondary goods.

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