Hanoi’s real estate market in the fourth quarter of 2022 saw a better performance in the serviced apartment segment than in apartments sales, according to the Savills’ report on the Hanoi property market released on January 10.
Hanoi authorities have requested the Department of Natural Resources and Environment strictly handle the bulldozing of hills and mountains and levelling of ponds, rivers and streams to sell land.
The real estate market in Hanoi is gradually recovering and may see a lot of development prospects in the time to come, according to analysts from property consultation company Savills Vietnam.
A recent survey by Savills found that gap of property prices are narrowing between urban and surrounding areas as more facilities are offered to compensate for outer locations.
While the COVID-19 epidemic has basically been controlled in Vietnam and business activities have resumed, the retail space market in Hanoi is gloomy with rentals down from 20-30 percent.
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