Mid-segment homes continue to be market’s main driver
The real estate market will hot up in the remaining months of this year as developers, including VinGroup and Eurowindow, are launching a large number of mid-end projects, according to the Vietnam Real Estate Association (VNREA).
Illustrative image. (Photo: VNA)Hanoi (VNA) – The real estate market will hot up in the remaining months of this year as developers, including VinGroup and Eurowindow, are launching a large number of mid-end projects, according to the Vietnam Real Estate Association (VNREA).
The VNREA forecast that the mid-end segment will continue to be the market’s main driver as it has drawn most investment. With expected high sale volumes, the segment will help increase market liquidity, it said.
More than 9,000 residential apartments of 35 projects were put for sale in Hanoi during the first quarter of 2017, 62 percent of which were mid-end homes. The segment also accounted for over half of new launches in Ho Chi Minh City during the period, up 13 percent year-on-year.
In the remaining months of the year, the capital city is forecast to welcome more than 30,000 new homes while the southern hub expects up to 36,000 items. Both markets will be dominated by mid-end housing.
Projects in the western area of Ho Chi Minh City are catching investors’ eyes as infrastructure there is about to improve with the launch of flyovers connecting Nguyen Van Cu and Nguyen Tri Phuong bridges with Vo Van Kiet Avenue, as well as a number of public facilities, including a hospital in Binh Chanh district.
Projects in the west and southwest of Hanoi are predicted to continue making up the majority of the city’s supply.-VNA
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