Illustrative image (Source: VNA) In the first quarter of this year, Ha Dong, Nam Tu Liem and Thanh Xuandistricts in the region had most apartments for sale in the city with12,000-19,000 apartments per district, reported JLL Vietnam, a foreign propertyservice provider.
Meanwhile, CB Richard Ellis (CBRE) Vietnam Co, Ltd, another foreign propertyservice provider, said the region accounted for 36 percent of new apartmentsupply in the city in the first quarter of this year.
In the first quarter, core urban districts such as Cau Giay, Tay Ho and Tu Liemin this region continued to witness increases in resale prices, ranging from1.4 percent to 7 percent quarter-on-quarter, on the back of newly-recordedlarge-scale projects that were launched in previous quarters and offered atprices higher than average, said CBRE Hanoi.
Additionally, developers of landed homes were committed to stronger investmentin facilities and amenities within the townships. For instance, clubhouses ofinternational standard at Park City came into use during the quarter, whileDinosaur Park is to be introduced at Vinhomes Riverside Phase 2, together withseveral clubhouses catering for different zones within the township.
According to a plan on developing Hanoi by 2030 with a vision to 2050, the westand southwest of Hanoi will become a new administrative, service and tradingcentre, reported cafef.vn.
The development will promote socio-economic growth in the region, leading tohigher demand for housing, synchronous infrastructure and public convenience.
Moving forward, the west and southwest will continue to have the largest numberof units launched, says a report by CBRE Hanoi on the city’s propertymarket in the first quarter.
Other areas such as Tay Ho district and midtown are also expected to welcomenew quality supply. There is increasing interest from local developers in theaffordable segment, and new units are to be launched from this segment in theupcoming quarters.
Near-term stable performance is expected with more multi-functional products.The focus will be on affordable housing, mainly in large-scale projects in Ha Dong,Hoang Mai, Tu Liem and Thanh Xuan districts, Savills Vietnam, a foreignproperty service company, says in its May report on property prices in Hanoi.
In the first quarter, the Residential Index was 106.6, decreasing less than 1point quarter-on-quarter and year-on- year. The average selling price of 27.4million VND per sq.m was due to lower secondary prices in some projects underpressure of increasing supply, according to the report.
The overall primary absorption rate of approximately at 27 percent was down 4percentage points quarter-on-quarter and eight year-on-year due to the largesupply. – VNA
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