Hanoi: 80 percent of new landed property supply located in the east
The east of Hanoi leads the new supply of landed property, covering 80 percent of the total new launch in the first half of 2019, property consultancy CRBE Vietnam announced in an event to review the capital city’s real estate market from January to June and the future trends.
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 Hanoi leads the new supply of landed property, covering 80 percent of the total new launch in the first half of 2019, property consultancy CRBE Vietnam announced in an event to review the capital city’s real estate market from January to June and the future trends.
The first six months of the year witnessed the excitement of the landed property market in Hanoi with a total of 3,241 new units, most of which were launched in the first quarter. The six-month figure is nearly 1.5 times the total supply of last year, sending out a positive outlook for the market in the time ahead.
The improvement of urban infrastructure and inner-city traffic continued to boost the expansion of supply in emerging locations. Better infrastructure has not only facilitated the launch of new projects in the emerging locations but also energized delayed projects. The CBRE Vietnam reported a dynamic rise in supply of landed property in the outskirts of the city, compared to that in inner districts.
Sales were impressive during the months under review despite the massive stock of new launches. About 2,980 new villas and shop houses were sold in January – June, 14 percent higher than the total number of 2018.
The secondary prices for villas in the first half averaged 4,075 USD per sqm, with VAT and construction costs all included. The average price was mostly fetched at emerging locations, such as Gia Lam, Long Bien and Ha Dong districts, which benefited from developed infrastructure and well-known developers.
The recent establishment of many well-developed large-scale projects has further intensified the competition within the supply of landed property in the city. According to the CBRE, for the remaining months of this year, high-quality products, consistent management and reputable developers will remain key factors affecting both end-user buyers and investors.
2019 is also set to welcome a great volume of new supply in the landed residential market with many subsequent phases of previously launched projects expected to come onboard, insiders said. –VNA
You should also see
Vietnam, China promote judicial cooperation
Minister of Justice Le Thanh Long held talks with his visiting Chinese counterpart He Rong in Hanoi on April 19 to discuss measures to promote judicial cooperation between the two countries.
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
