Mid-end apartment supply plentiful
The real estate market will see an abundant supply of mid-end apartments toward the end of the year, according to the Vietnam National Real Estate Association.
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 market will 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 Vingroup and Eurowindow, will launch a large number of mid-end apartments, which are of high demand.
Over 20,000 apartments will be completed by the end of this year, of which 50 percent are of the mid-end segment, mostly in the west and southwest of Hanoi.
Other downtown districts, including Tay Ho, Dong Da and Ba Dinh are expected to have more high-quality projects.
In the second quarter this year, the supply of serviced apartments exceeded 4,130 units, with 60 percent of them in Ba Dinh and Tay Ho districts.
The renting prices of these apartments have fallen slightly by 2.4 percent on a quarterly basis and 2.7 percent year on year.
An additional 1,180 apartments of this type will be made available in the third quarter, creating more competition pressure in this sector.-VNA
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