Strong recovery in HCM City property market in 2015
Strong recovery was seen in the Ho Chi Minh City housing market in 2015, particularly in the mid- and hi-end segments, according to an expert from CBRE Vietnam.
A hi-end apartment block in District 2, Ho Chi Minh City (Source: VNA)During the year, close to 42,000 apartments from 78 projects were put up for sale in the city, with nearly half in the eastern part (47 percent), up 122 percent from 2014, Director of CBRE Vietnam’s Research and Consulting Services Duong Thuy Dung told a meeting on January 5.
More than 36,000 flats were sold in wholesale and retail, marking a 98 percent increase year-on-year. Up to 75 percent of total sales were those priced at 1-1.3 billion VND (45,000-60,000 USD).
In the fourth quarter alone, the figure was 10,340.
CBRE also reported that foreigners accounted for 41 percent of customers seeking information on housing in Vietnam during the year, predominantly Singaporeans.
Housing prices were on the rise, averaging 2,012 USD USD per sq.m, up 4.4 percent from the previous year.
In 2016, several projects in downtown area are expected to list an asking price of more than 7,000 USD per sq.m.
Over 45,000 apartments in 90 projects will be made available next year, with the supply of hi-end developments rising 20 percent compared to 2015.
Marc Townsend, CBRE Vietnam Managing Director, said it is time to open training centres for real estate brokers in preparation for a more intense competition, especially when more foreigners join the market.-VNA
You should also see
PM attends ceremony to start work on Him Lam resistance centre renovation project
Prime Minister Pham Minh Chinh on April 17 attended a ceremony to start work on a project to renovate Him Lam resistance centre, a part of the Dien Bien Phu complex of fortifications in the northern mountainous province of Dien Bien.
See more
Business
Forum discusses support for women-owned firms to join supply chains
A forum on supporting women-owned businesses to join supply chains through sustainable development tools took place in Hanoi on April 17.
Business
Satisfaction of administrative services improves
Vietnamese citizens had greater satisfaction with the administrative services provided by State agencies last year, according to the Satisfaction Index of Public Administration Services (SIPAS) 2023 announced by the Ministry of Home Affairs (MoHA) on April 17.
Business
Petrol prices increase slightly on April 17
The retail prices of petrol were adjusted up from 3pm on April 17 by the Ministry of Industry and Trade and the Ministry of Finance.
Business
Central Highlands provinces seek closer trade, investment ties with India
A business and investment conference was held in Dak Lak province’s Buon Ma Thuot city on April 17 with the aim of enhancing connectivity between Indian firms and Central Highlands provinces.
Business
Foreign purchasers show interest in five product groups of Vietnam
Foreign hypermarkets, retail distributors and international buying group registering to join the Vietnam International Sourcing 2024 have shown interest in five groups of Vietnamese products, namely foodstuff, textiles and fashion accessories; shoes, backpacks, bags and accessories; sporting goods and equipment; and household appliances and furniture.
