On July 5, at the quarterly market review quarter 2/2016, Savills Vietnam said that the real estate market in HCMC continues to be active in the segment of apartments, villas and townhouses.
Specifically, in the second quarter of 2016, 19 new projects and the second phase of an existing project opened for sale, providing more than 8,700 apartments, growing by 15% quarterly. The total primary stock reached more than 40,100 units.
The number of apartments in the city has grown significantly, with over 6,900 transactions, up 10% quarter-on-quarter and 34% over the same period in 2015. It is reported that from the third quarter of 2016 to 2018, more than 35,000 units are expected. Market entry. Some developers have begun moving strategically towards high-density residential districts in the western part of the city.
In the second quarter of 2016, 11 villas and townhouses and three new projects will provide approximately 1,600 units. Trading volume increased by 78% quarter-on-quarter and 106% from the previous year, with the main contribution of the adjacent house, accounting for 68% of total transactions, District 2 has the best performance. The adjacent large and large area from 90 to 120 sqm is well absorbed in the first six months of the year.
However, reputable investors continue to offer smaller size products.
Along with that, the strong growth in the retail segment, with a total retail space of over 1 million sqm, stabilized on a quarterly basis, up 13% year on year. The new supply of 30,500 sqm is equivalent to the area of some closed centers.
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Savills adds that demand for luxury goods has declined, reflecting a number of stimulus packages at major retailers. The food industry continues to grow rapidly due to increasing consumer perceptions of the food safety factor consumed daily.
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