Business

Ho Chi Minh City apartment sales up 47 percent in Q4

Total apartment sales in Ho Chi Minh City reached nearly 7,700 units in the fourth quarter of 2015, up 47 percent quarterly, according to Savills Vietnam ’s Market Brief released on Jauary 29.
Ho Chi Minh City apartment sales up 47 percent in Q4 ảnh 1An apartment block in district 2, Ho Chi Minh City (Source: VNA)

Ho Chi Minh City (VNA) – Total apartment sales in Ho Chi Minh City reached nearly 7,700 units in the fourth quarter of 2015, up 47 percent from the previous quarter, according to Savills Vietnam’s Market Brief released on January 29.

Sales of Grade A apartments rose 129 percent quarterly. Grade Bs were up 79 percent. Both Grade A and B have reached their highest sales levels in the last five years, thanks to banking support and diversified products.

Meanwhile, the office market performed its best in the past four years.

The total take-up was 60,000 sq.m, up 264 percent from the figure of entire 2014– mostly Grade B and C office space.

This year, more than 71,000 sq.m in six projects are expected to be made available, pushing the total stock up 4 percent from 2015.

Nguyen Toan Thang, Director of the municipal Department of Natural Resources and Environment, said the city collected more than 10.6 trillion VND (481 million USD) in land use fees, up 34.56 percent from 2014.

Nearly 45,000 certificates of land use, home ownership and ownership of other properties associated with land were granted to individuals and households. More than 11,000 were granted to organisations, raising the total number of licences to 1.4 million, or 92.8 percent.

The department also submitted a plan to municipal authorities to reclaim 3,290ha for 491 projects and take back 229ha in 32 slow-progressing projects.-VNA

VNA
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