Illustrative photo (Photo: vivariverside.com) Hanoi (VNA)– Real estate prices remained stable in the first three months of 2017 withmid- and high-end segments dominating the market, according to the Housing andReal Estate Market Management Agency.
The agency said themid- and high-end products still accounted for the majority of new launcheswhile there is a limited supply of low-cost housing projects.
Vietnam’s leadingproperty developer, Vingroup, unveiled the affordable housing project Vincityon the outskirt areas of Hanoi last year in order to satisfy the increasingdemand from local mid- and low-income buyers in the near future.
About 1,000 successfultransactions of mid- and high-end apartments were reported in Hanoi in March,up 17.6 percent from a month earlier, most of which are from projects VinhomesSkylake Pham Hung in Cau Giay district, Gelexia Riverside and Sunshine Palacein Hoang Mai district, and Vinhomes Thang Long in Hoai Duc district.
Ho Chi Minh City hadabout 1,100 mid- and high-range units sold in March, an increase of 22 percentfrom February.
There have been fewnew launches in the southern economic hub since the beginning of this year,thus most of the supply relied on those that went on sale in 2016. High-endprojects with big sales last month included Charmington La Pointe in District10, Jamona Apartment in District 7, Lakeview City in District 2, and VinhomesCentre Park Tan Cang in Binh Thanh district.
Nguyen Tran Nam,Chairman of the Vietnam National Real Estate Association, has warned of animbalance between supply and demand in the country’s housing market. The demandfor low-cost apartments is very high but it is not easy for people to find thosesold less than 20 million VND per sqm.
There are still a poorreal estate database and limited market forecast, he said, adding that thesewere also behind the real estate crisis from 2009-2013.-VNA
The agency said themid- and high-end products still accounted for the majority of new launcheswhile there is a limited supply of low-cost housing projects.
Vietnam’s leadingproperty developer, Vingroup, unveiled the affordable housing project Vincityon the outskirt areas of Hanoi last year in order to satisfy the increasingdemand from local mid- and low-income buyers in the near future.
About 1,000 successfultransactions of mid- and high-end apartments were reported in Hanoi in March,up 17.6 percent from a month earlier, most of which are from projects VinhomesSkylake Pham Hung in Cau Giay district, Gelexia Riverside and Sunshine Palacein Hoang Mai district, and Vinhomes Thang Long in Hoai Duc district.
Ho Chi Minh City hadabout 1,100 mid- and high-range units sold in March, an increase of 22 percentfrom February.
There have been fewnew launches in the southern economic hub since the beginning of this year,thus most of the supply relied on those that went on sale in 2016. High-endprojects with big sales last month included Charmington La Pointe in District10, Jamona Apartment in District 7, Lakeview City in District 2, and VinhomesCentre Park Tan Cang in Binh Thanh district.
Nguyen Tran Nam,Chairman of the Vietnam National Real Estate Association, has warned of animbalance between supply and demand in the country’s housing market. The demandfor low-cost apartments is very high but it is not easy for people to find thosesold less than 20 million VND per sqm.
There are still a poorreal estate database and limited market forecast, he said, adding that thesewere also behind the real estate crisis from 2009-2013.-VNA
VNA
