The real estate market will see an abundant supply of mid-end apartments toward the end of the year (Source: VNA) Hanoi (VNA) – The real estate marketwill see an abundant supply of mid-end apartments toward the end of the year,according to the Vietnam National Real Estate Association.
A number of renowned investors, such as Vingroupand Eurowindow, will launch a large number of mid-end apartments, which are ofhigh demand.
Over 20,000 apartments will be completed by theend of this year, of which 50 percent are of the mid-end segment, mostly in thewest and southwest of Hanoi.
Other downtown districts, including Tay Ho, DongDa and Ba Dinh are expected to have more high-quality projects.
In the second quarter this year, the supply ofserviced apartments exceeded 4,130 units, with 60 percent of them in Ba Dinhand Tay Ho districts.
The renting prices of these apartments havefallen slightly by 2.4 percent on a quarterly basis and 2.7 percent year onyear.
An additional 1,180 apartments of this type willbe made available in the third quarter, creating more competition pressure in thissector.-VNA
VNA
