Ho Chi Minh City’s property market is predicted to experience significant growth in 2015 as the number of apartments for sale continues surging, especially within districts 2, 9, Binh Thanh, and Thu Duc, according to CBRE Vietnam.

According to CBRE’s recent market research report from the last quarter of 2014, high-end property sales increased significantly in the reviewed period, especially among newly available projects.

Marc Townsend, CBRE Chief executive officer, said many domestic investors are taking a renewed interest in real estate projects as a result of positive and promising market recovery signals.

He revealed his firm intends to work with 12 leading experts in the field in Southwest Asia who have expressed interest in entering Vietnam’s property market.

The country’s ongoing macroeconomic stability, improving purchasing-power and favourable changes in the Housing Law have contributed significantly to the market’s recent recovery, Townsend noted.

The last quarter of 2014 recorded 6,760 new units, a 117.8 percent increase from the previous quarter between quarters and 105.2 percent from the previous year. Progress in the reviewed quarter brought the total of new properties in 2014 to 14,807 units, 3.2 times the units developed in 2013.

The new properties saw a soar in sales, causing the overall sales rate among high-end properties in 2014 to reach 60 percent, with the mid-range properties following at 35 percent.

About 15,000 new apartments were available in 2014, setting a record figure over the last four years, according to Duong Thuy Dung, Head of the CBRE Research and Consulting Department.

Currently, investors from Singapore and the Republic of Korea are working to commence large-scale projects in the city, while Japanese investors and joint ventures are seeking locations for their housing projects.-VNA