Both the Ho Chi Minh City and Hanoi apartment markets have seen anupward trend through the first half of the year, the Vietnam InvestmentReview (VIR) reported on July 18.
At the end of May, Vingroupannounced its second phase of Times City Hanoi was up for sale atstarting price of 1.9 billion VND (90,000 USD) per unit with numerousincentives and financing options.
In just two days, nearly 600units were sold. This meant that market demand required for the rightproducts and Vingroup was timely in putting the units up for sale.
DeveloperFLC made a market splash last week when it announced it would sellunits in its tower at 36 Pham Hung street for 23 million VND (1,050 USD)per square metre, compared to the roughly 30 million VND (1,400 USD)per square metre for neighbouring projects.
Many projects are reporting solid sales, such as Thang Long Number One, Discovery Complex and Royal City.
InHo Chi Minh City, a range of projects are experiencing rocketing salessuch as 8X Thai An, Hung Ngan Garden, Sunview Town and 4S Linh Dong.
According to Savills Vietnam, the apartment market overall has seen an upswing in terms of both transaction and price.
Inthe second quarter of this year, approximately 1,900 units were sold inHanoi, up 54 percent on-quarter thanks to strong sales of Grade Bprojects. According to Savills, projects with good construction progressand strong development credibility generated good sales this quarter.
From the third quarter onward, 83 projects with more than 65,800apartments are slated to start construction in Hanoi. But 50 percent ofthose are still in the planning stages. The second half of 2014 willwelcome approximately 5,000 units from nine projects, and more than4,900 apartments from five projects are expected to launch in 2015.
Meanwhile,in Ho Chi Minh City, Savills reported that the overall absorption ratewas 17 percent, up 7 percent on-quarter and 9 percent on-year.
“Thenumber of transactions in the second quarter was approximately 2,500units, up a notable 60 percent on-quarter and 115 percent on-year. GradeC accounted for nearly 70 percent of transaction volume, which was thehighest in the last three years in the southern market,” reportedSavills.
In the second quarter, Ho Chi Minh City’s districts 2and 7 continued to see the highest transaction volume, accounting for 46percent of total sales, followed by Go Vap, Tan Phu, Binh Tan, and ThuDuc, with 34 percent.
“Competitive mortgage rates helped supportbuyers and strengthen residential demand. Flexible payment terms in anumber of Grade B and C projects also encouraged buyer confidence,”Savills noted.-VNA
At the end of May, Vingroupannounced its second phase of Times City Hanoi was up for sale atstarting price of 1.9 billion VND (90,000 USD) per unit with numerousincentives and financing options.
In just two days, nearly 600units were sold. This meant that market demand required for the rightproducts and Vingroup was timely in putting the units up for sale.
DeveloperFLC made a market splash last week when it announced it would sellunits in its tower at 36 Pham Hung street for 23 million VND (1,050 USD)per square metre, compared to the roughly 30 million VND (1,400 USD)per square metre for neighbouring projects.
Many projects are reporting solid sales, such as Thang Long Number One, Discovery Complex and Royal City.
InHo Chi Minh City, a range of projects are experiencing rocketing salessuch as 8X Thai An, Hung Ngan Garden, Sunview Town and 4S Linh Dong.
According to Savills Vietnam, the apartment market overall has seen an upswing in terms of both transaction and price.
Inthe second quarter of this year, approximately 1,900 units were sold inHanoi, up 54 percent on-quarter thanks to strong sales of Grade Bprojects. According to Savills, projects with good construction progressand strong development credibility generated good sales this quarter.
From the third quarter onward, 83 projects with more than 65,800apartments are slated to start construction in Hanoi. But 50 percent ofthose are still in the planning stages. The second half of 2014 willwelcome approximately 5,000 units from nine projects, and more than4,900 apartments from five projects are expected to launch in 2015.
Meanwhile,in Ho Chi Minh City, Savills reported that the overall absorption ratewas 17 percent, up 7 percent on-quarter and 9 percent on-year.
“Thenumber of transactions in the second quarter was approximately 2,500units, up a notable 60 percent on-quarter and 115 percent on-year. GradeC accounted for nearly 70 percent of transaction volume, which was thehighest in the last three years in the southern market,” reportedSavills.
In the second quarter, Ho Chi Minh City’s districts 2and 7 continued to see the highest transaction volume, accounting for 46percent of total sales, followed by Go Vap, Tan Phu, Binh Tan, and ThuDuc, with 34 percent.
“Competitive mortgage rates helped supportbuyers and strengthen residential demand. Flexible payment terms in anumber of Grade B and C projects also encouraged buyer confidence,”Savills noted.-VNA
