Model of a property project. (Source: VNA) Some 550 villas and row houses are set to be available in Hanoi’s real estate market by the end of this year, according to statistics from Savills Vietnam, the largest property company in the country.
By the end of the third quarter this year, the total supply of villas and row houses in Hanoi was estimated at 30,400 units built by 114 property projects. Of the total, 1,200 units were available in the primary market and 29,200 units in the secondary market.
The average secondary price was approximately 48.7 million VND (2,194 USD) per square metre for villas, down 0.4 percent from previous quarter and falling 1.9 percent compared to the same period last year. Row houses were snapped up for 61 million VND (2,748 USD) for each square metre, rising 1.2 percent from last quarter and 1.8 percent from the same time last year.
The highest primary price for villas is in Tay Ho district, which stands at 117 million VND (5,271 USD) for each square metre and the lowest in Thach That district at 18 million VND (810.9 USD) per square metre.
Meanwhile, property projects in Cau Giay district hold the highest price for row houses, which is currently at 136 million VND (6,127 USD) per square metre. Cau Giay district is one of the most attractive areas in Hanoi due to its comprehensive infrastructure and advanced services.
Buyers have been increasingly attracted to new housing projects, which have completed infrastructure and easy access. In addition, relevant policies have offered legal procedure support to property clients.
According to statistics from General Statistics Office of Vietnam, Vietnam’s credit growth picked up 10.78 percent from the end of 2014, the highest recorded since 2011. Savills experts said that this will be the main financial support for both property investors and buyers.-VNA
