Friday, August 18, 2017 - 21:52:15

Supply of villas, attached houses abundant

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Supply of villas and attached houses is abundant but the segment is suffering from the fierce competition of cheaper apartment and housing land, real estate experts said.

According to Do Thu Hang, Head of Savills Hanoi’s Research and Consultancy, many developers are delaying putting their projects on the market.

The company’s statistics showed a total 30,040 villas and attached houses from 107 projects were being offered on the market as of the end of the first quarter, while 109 more units in 16 projects are expected to be launched from now to 2016.

Average asking prices of villas will reduce slightly while a slight rise is expected for attached houses, Hang said, adding that higher numbers of transactions were recorded in the first quarter compared to the previous periods.

Experts said the high-end segment will gain a boost when the housing law allowing foreigners to own properties in Vietnam takes effect in July, 2015.-VNA
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