The Savills property price index (SPPI) for residential and officemarkets here and in HCM City increased in the third quarter of 2014.
Savills,the Vietnam property service provider, reported on October 30 that inthe third quarter, Hanoi's residential SPPI was 102.7, a 2.4-pointquarter-on-quarter (QoQ) increase and a slight 0.6-point year-on-year(YoY) increase.
According to Savills, the quarter witnessed a significant rise that can be considered as a positive signal from market.
Theinventory ratio declined sharply by 24 percentage points QoQ and 26percentage points YoY because of the entire market's strong performance.This quarter, the absorption rate in Hanoi was 38 percent, a15-percentage point QoQ increase.
The average price in thethird quarter was approximately 25.2 million VND per square meter, atwo-per cent QoQ increase. Hoan Kiem, Tay Ho and Ba Dinh districts hadthe highest prices because of their central location and numerousupscale projects.
In HCM City, the residential index was89.5, the same as last quarter and a 0.7-point YoY increase. The overallabsorption rate was 19 percent, a two-percentage point increase QoQ anda seven-percentage point increase YoY.
Approximately3,280 units were sold, a 29-percent QoQ and 85-percent YoY increase,representing the highest transaction volume since the fourth quarter of2010.-VNA