With rising sales, the prices of villas/townhouse and apartments in Hanoi are also escalating in the second quarter of this year.
According to a quarterly report released on July 9 by Savills Vietnam Ltd Company, on the Hanoi property market in Q2, the average primary price was approximately 41.7 million VND (1,966 USD) per square metre for villas and 41.5 million VND (1,958 USD) per square metre for townhouses.
The highest 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 18 million VND (850 USD) per square metre.
The average secondary asking 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 where a number of projects were nearly completed, including Cau Giay, Tu Liem, Ha Dong and Hoai Duc.
"Villas/townhouse have faced competition from private, landed houses and apartments that are selling more as they cost less," said Ngo Thi Huong Giang, Senior Manager of Research and Consultancy.
In Q2/2014, the total stock is approximately 29,400 units from 105 projects. The primary stock comprises 16 projects with approximately 1,100 units, with approximately 28,300 units in secondary stock. One new project in Hoang Mai district launched this quarter is providing 35 villas.
Giang said that taking effect June 16th 2014, a Joint Circular No 01/2014/TTLT-NHNN-BXD-BTP-BTNMT was issued to guide the mortgage procedures for future homes. This circular may increase market demand in the future.
Also in the report, Savills said the average primary price was approximately 28 million VND (1,320 USD) per square metre, increasing 15 percent q-o-q. The prices increased significantly by 8 percent 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 secondary asking price increased in all districts, up 4 percent q-o-q to approximately 29 million VND (1,368 USD) per square metre. Ba Dinh showed the most significant increase of 5 percent to 38 million VND (1,792 USD) per square metre.
In Q2/2014, approximately 1,900 units were sold, up 54 percent q-o-q due to strong sales in Grade B projects. The absorption rate was 14 percent, increasing by 5 percentage points, q-o-q.
"Projects which were progressing smoothly and had strong developer creditability generated good sales this quarter. Most buyers 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.
The total 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 were sold and removed from the primary market. The total secondary stock increased by 15 percent q-o-q to approximately 82,400 units.-VNA
According to a quarterly report released on July 9 by Savills Vietnam Ltd Company, on the Hanoi property market in Q2, the average primary price was approximately 41.7 million VND (1,966 USD) per square metre for villas and 41.5 million VND (1,958 USD) per square metre for townhouses.
The highest 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 18 million VND (850 USD) per square metre.
The average secondary asking 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 where a number of projects were nearly completed, including Cau Giay, Tu Liem, Ha Dong and Hoai Duc.
"Villas/townhouse have faced competition from private, landed houses and apartments that are selling more as they cost less," said Ngo Thi Huong Giang, Senior Manager of Research and Consultancy.
In Q2/2014, the total stock is approximately 29,400 units from 105 projects. The primary stock comprises 16 projects with approximately 1,100 units, with approximately 28,300 units in secondary stock. One new project in Hoang Mai district launched this quarter is providing 35 villas.
Giang said that taking effect June 16th 2014, a Joint Circular No 01/2014/TTLT-NHNN-BXD-BTP-BTNMT was issued to guide the mortgage procedures for future homes. This circular may increase market demand in the future.
Also in the report, Savills said the average primary price was approximately 28 million VND (1,320 USD) per square metre, increasing 15 percent q-o-q. The prices increased significantly by 8 percent 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 secondary asking price increased in all districts, up 4 percent q-o-q to approximately 29 million VND (1,368 USD) per square metre. Ba Dinh showed the most significant increase of 5 percent to 38 million VND (1,792 USD) per square metre.
In Q2/2014, approximately 1,900 units were sold, up 54 percent q-o-q due to strong sales in Grade B projects. The absorption rate was 14 percent, increasing by 5 percentage points, q-o-q.
"Projects which were progressing smoothly and had strong developer creditability generated good sales this quarter. Most buyers 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.
The total 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 were sold and removed from the primary market. The total secondary stock increased by 15 percent q-o-q to approximately 82,400 units.-VNA
