HCM City: more apartments, less demand hinh anh 1Illustrative image (Source: batdongsan.com.vn)

HCM City (VNA) – More than 10,000 apartments were put for sale in Ho Chi Minh City in the second quarter of 2016, of which just over 5,800 units were sold, according to property service firm CBRE Vietnam.

In comparison to the previous quarter, the figures represented a 20 percent increase in the number of apartments and a 35 percent drop in the sales.

Of the total apartments in the period, 22 percent belonged to the high-end segment, most of which came from VinGroup’s Vinhomes Golden River project.

In the later half of the year, more apartments from a number of property projects, such as the Golf Park Residence, Elite Park, Diamond Island and Empire City, will be available.

Le Hoang Chau, President of the HCM City Real Estate Association, said the local property market has shown signs of slowdown with a shortage of affordable small- and medium-sized products.

He said a total of approximately 57,000 apartments will be marketed this year.

In the first half of 2016, the city issued 15,148 certificates of land and property ownership.-VNA