Up to 80 percent of the total new launch of landed property in Hanoi are located in eastern areas of the city (Photo: VNA) Hanoi (VNA) – The east of Hanoileads the new supply of landed property, covering 80 percent of the total newlaunch in the first half of 2019, property consultancy CRBE Vietnam announcedin an event to review the capital city’s real estate market from January toJune and the future trends.
The first six months of the year witnessedthe excitement of the landed property market in Hanoi with a total of 3,241 newunits, most of which were launched in the first quarter. The six-month figureis nearly 1.5 times the total supply of last year, sending out a positiveoutlook for the market in the time ahead.
The improvement of urban infrastructure andinner-city traffic continued to boost the expansion of supply in emerginglocations. Better infrastructure has not only facilitated the launch of newprojects in the emerging locations but also energized delayed projects. TheCBRE Vietnam reported a dynamic rise in supply of landed property in theoutskirts of the city, compared to that in inner districts.
Sales were impressive during the monthsunder review despite the massive stock of new launches. About 2,980 new villasand shop houses were sold in January – June, 14 percent higher than the totalnumber of 2018.
The secondary prices for villas in thefirst half averaged 4,075 USD per sqm, with VAT and construction costs allincluded. The average price was mostly fetched at emerging locations, such asGia Lam, Long Bien and Ha Dong districts, which benefited from developedinfrastructure and well-known developers.
The recent establishment of manywell-developed large-scale projects has further intensified the competitionwithin the supply of landed property in the city. According to the CBRE, forthe remaining months of this year, high-quality products, consistent managementand reputable developers will remain key factors affecting both end-user buyersand investors.
2019 is also set to welcome a great volumeof new supply in the landed residential market with many subsequent phases ofpreviously launched projects expected to come onboard, insiders said. –VNA
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