With low deposit interest rate and less attractive investment in other sectors, many investors have returned to the high-end real estate segment, the Vietnam Business Forum reported.
Investment activities in Vietnamese real estate market have mostly “disappeared” in recent years. Many housing developers suffered heavily from the bursting of real estate bubbles.
Trading in real estate has improved and prices stabilised, helping to boost customers’ confidence in the market, the weekly magazine of the Vietnam Chamber of Commerce and Industry quoted Minister of Construction Trinh Dinh Dung as saying.
Particularly, in the first two months of 2014, in Hanoi, there were about 1,300 apartments successfully traded, and in Ho Chi Minh City about 1,000 apartments.
The latest report by Ministry of Construction about real estate market showed some indicators of the 2013 real estate market considerably improved. In the first months of 2014, rapid inventory reduction rate marked 2.8 percent and 4.32 percent in Hanoi and Ho Chi Minh City respectively.The total remaining inventory decreased to nearly 93,000 billion VND.
In fact, volume of real estate transaction has recently improved. Especially, since the beginning of 2014, investors have returned to luxury real estate, which was mostly frozen in recent time. Thang Long Number One project (Number one of Thang Long Boulevard). Just in a short time open for sale, about 200 apartments were sold. Of overall 1,000 apartments, there are now only over 100 apartments left.
The project is favourably located, opposite Big C supermarket, near the National Conventional Centre, Amsterdam Secondary School. Especially, the project possesses beautiful landscape.
Invested by Viglacera Corporation, the project consists of 40 floors and 3 basements. The 20th and 21st floors being for green space makes this project stand apart from others.
According to Phan Thanh Diep, Director of Viglacera Real Estate Trading Company, trade volume of the project has been considerably good because of good location and reasonable price. Especially, the project is ready to be handed over to customers in the third quarter of 2014.
Hoa Binh Green City (Minh Khai, Hanoi) is another typical example when just in a short time, the project had sold over 400 apartments. There are now only about 100 apartments available.
Sharing with the press, Phan Xuan Can, Chairman of Sohovietnam assessed that commercial housing segment has shown a warming sign since late 2013.
Sharing the same viewpoint with Can, Le Minh Dung, Director of CB Richard Ellis Group Vietnam (CBRE) also said that currently luxury real estate segment has revealed positive changes.
“It can be proved by higher purchasing rate of luxurious apartment in 2013 compared to 2012. Inventories in the real estate market have continuously decreased since 2013. Presently, most inventories in the real estate market belong to uncompleted projects,” Dung said.
In Hanoi, Dung said in projects whose apartments are going to be handed over like Thang Long Number One, Star City Le Van Luong, Times City, etc have a high rate of successful transactions.-VNA
Investment activities in Vietnamese real estate market have mostly “disappeared” in recent years. Many housing developers suffered heavily from the bursting of real estate bubbles.
Trading in real estate has improved and prices stabilised, helping to boost customers’ confidence in the market, the weekly magazine of the Vietnam Chamber of Commerce and Industry quoted Minister of Construction Trinh Dinh Dung as saying.
Particularly, in the first two months of 2014, in Hanoi, there were about 1,300 apartments successfully traded, and in Ho Chi Minh City about 1,000 apartments.
The latest report by Ministry of Construction about real estate market showed some indicators of the 2013 real estate market considerably improved. In the first months of 2014, rapid inventory reduction rate marked 2.8 percent and 4.32 percent in Hanoi and Ho Chi Minh City respectively.The total remaining inventory decreased to nearly 93,000 billion VND.
In fact, volume of real estate transaction has recently improved. Especially, since the beginning of 2014, investors have returned to luxury real estate, which was mostly frozen in recent time. Thang Long Number One project (Number one of Thang Long Boulevard). Just in a short time open for sale, about 200 apartments were sold. Of overall 1,000 apartments, there are now only over 100 apartments left.
The project is favourably located, opposite Big C supermarket, near the National Conventional Centre, Amsterdam Secondary School. Especially, the project possesses beautiful landscape.
Invested by Viglacera Corporation, the project consists of 40 floors and 3 basements. The 20th and 21st floors being for green space makes this project stand apart from others.
According to Phan Thanh Diep, Director of Viglacera Real Estate Trading Company, trade volume of the project has been considerably good because of good location and reasonable price. Especially, the project is ready to be handed over to customers in the third quarter of 2014.
Hoa Binh Green City (Minh Khai, Hanoi) is another typical example when just in a short time, the project had sold over 400 apartments. There are now only about 100 apartments available.
Sharing with the press, Phan Xuan Can, Chairman of Sohovietnam assessed that commercial housing segment has shown a warming sign since late 2013.
Sharing the same viewpoint with Can, Le Minh Dung, Director of CB Richard Ellis Group Vietnam (CBRE) also said that currently luxury real estate segment has revealed positive changes.
“It can be proved by higher purchasing rate of luxurious apartment in 2013 compared to 2012. Inventories in the real estate market have continuously decreased since 2013. Presently, most inventories in the real estate market belong to uncompleted projects,” Dung said.
In Hanoi, Dung said in projects whose apartments are going to be handed over like Thang Long Number One, Star City Le Van Luong, Times City, etc have a high rate of successful transactions.-VNA
