With rising sales, the prices of villas/townhouse and apartments inHanoi are also escalating in the second quarter of this year.
Accordingto a quarterly report released on July 9 by Savills Vietnam LtdCompany, on the Hanoi property market in Q2, the average primary pricewas approximately 41.7 million VND (1,966 USD) per square metre forvillas and 41.5 million VND (1,958 USD) per square metre for townhouses.
Thehighest price was in Tay Ho district at approximately 105 million VND(4,950 USD) per square metre and the lowest was in Quoc Oai, at 18million VND (850 USD) per square metre.
The average secondaryasking price decreased slightly by 0.4 percent quarter-on-quarter(q-o-q) for villas and 0.3 percent q-o-q for townhouses.
Meanwhile,the price increased slightly between 1 and 6 percent in districts wherea number of projects were nearly completed, including Cau Giay, TuLiem, Ha Dong and Hoai Duc.
"Villas/townhouse have facedcompetition from private, landed houses and apartments that are sellingmore as they cost less," said Ngo Thi Huong Giang, Senior Manager ofResearch and Consultancy.
In Q2/2014, the total stock isapproximately 29,400 units from 105 projects. The primary stockcomprises 16 projects with approximately 1,100 units, with approximately28,300 units in secondary stock. One new project in Hoang Mai districtlaunched this quarter is providing 35 villas.
Giang said thattaking effect June 16th 2014, a Joint Circular No01/2014/TTLT-NHNN-BXD-BTP-BTNMT was issued to guide the mortgageprocedures for future homes. This circular may increase market demand inthe future.
Also in the report, Savills said the average primaryprice was approximately 28 million VND (1,320 USD) per square metre,increasing 15 percent q-o-q. The prices increased significantly by 8percent for Grade B apartments and by 3 percent for Grade A apartments,but reduced by 7 percent q-o-q for Grade C.
The average secondaryasking price increased in all districts, up 4 percent q-o-q toapproximately 29 million VND (1,368 USD) per square metre. Ba Dinhshowed the most significant increase of 5 percent to 38 million VND(1,792 USD) per square metre.
In Q2/2014, approximately 1,900units were sold, up 54 percent q-o-q due to strong sales in Grade Bprojects. The absorption rate was 14 percent, increasing by 5 percentagepoints, q-o-q.
"Projects which were progressing smoothly and hadstrong developer creditability generated good sales this quarter. Mostbuyers are end-users who expect real products," Giang said.
In Q2/2014, Hanoi's total apartment supply was approximately 95,800 units from 162 sold projects and 67 active projects.
Thetotal primary stock decreased by 8 percent q-o-q to over 13,400 units.Only one new project was launched. However, four Grade C projects weresold and removed from the primary market. The total secondary stockincreased by 15 percent q-o-q to approximately 82,400 units.-VNA
Accordingto a quarterly report released on July 9 by Savills Vietnam LtdCompany, on the Hanoi property market in Q2, the average primary pricewas approximately 41.7 million VND (1,966 USD) per square metre forvillas and 41.5 million VND (1,958 USD) per square metre for townhouses.
Thehighest price was in Tay Ho district at approximately 105 million VND(4,950 USD) per square metre and the lowest was in Quoc Oai, at 18million VND (850 USD) per square metre.
The average secondaryasking price decreased slightly by 0.4 percent quarter-on-quarter(q-o-q) for villas and 0.3 percent q-o-q for townhouses.
Meanwhile,the price increased slightly between 1 and 6 percent in districts wherea number of projects were nearly completed, including Cau Giay, TuLiem, Ha Dong and Hoai Duc.
"Villas/townhouse have facedcompetition from private, landed houses and apartments that are sellingmore as they cost less," said Ngo Thi Huong Giang, Senior Manager ofResearch and Consultancy.
In Q2/2014, the total stock isapproximately 29,400 units from 105 projects. The primary stockcomprises 16 projects with approximately 1,100 units, with approximately28,300 units in secondary stock. One new project in Hoang Mai districtlaunched this quarter is providing 35 villas.
Giang said thattaking effect June 16th 2014, a Joint Circular No01/2014/TTLT-NHNN-BXD-BTP-BTNMT was issued to guide the mortgageprocedures for future homes. This circular may increase market demand inthe future.
Also in the report, Savills said the average primaryprice was approximately 28 million VND (1,320 USD) per square metre,increasing 15 percent q-o-q. The prices increased significantly by 8percent for Grade B apartments and by 3 percent for Grade A apartments,but reduced by 7 percent q-o-q for Grade C.
The average secondaryasking price increased in all districts, up 4 percent q-o-q toapproximately 29 million VND (1,368 USD) per square metre. Ba Dinhshowed the most significant increase of 5 percent to 38 million VND(1,792 USD) per square metre.
In Q2/2014, approximately 1,900units were sold, up 54 percent q-o-q due to strong sales in Grade Bprojects. The absorption rate was 14 percent, increasing by 5 percentagepoints, q-o-q.
"Projects which were progressing smoothly and hadstrong developer creditability generated good sales this quarter. Mostbuyers are end-users who expect real products," Giang said.
In Q2/2014, Hanoi's total apartment supply was approximately 95,800 units from 162 sold projects and 67 active projects.
Thetotal primary stock decreased by 8 percent q-o-q to over 13,400 units.Only one new project was launched. However, four Grade C projects weresold and removed from the primary market. The total secondary stockincreased by 15 percent q-o-q to approximately 82,400 units.-VNA
