The current real estate market in HCM City

HCMC real estate market in recent years has been positive changes and no signs of cooling. Besides some less wave areas, wave surfing areas such as East and South … still receive the first wave of attractive with diversified types of products offered in the market.

In order to have a broader and broader view of the real estate market in Ho Chi Minh City, customers can refer to a number of key issues such as:

There is still a phase gap between supply and demand

In the past few years, the real estate market has been developing positively and in stable orbit. Many urban projects have been started, especially in areas near Saigon. This satellite urban area plays the role of sharing with the city center in terms of population, traffic as well as utilities. The area is currently a “slice of bread” with investors can list as District 2, District 12, District 9, Thu Duc or Binh Tan area, Binh Chanh. The investors are moving to the coastal areas because of the relatively dense population, convenient transportation, can move to the center easily. In addition, the investment capital is not as high as the central area.

Focusing on high-end apartments leads to over supply but the demand is lacking

However, the problem is not solved and the solution is that development is the phase difference between market share of supply and demand. Most of the average income of people living in HCMC is medium income. Meanwhile, the supply of housing is mostly in the mid-range segment. Some projects focus on developing high-end apartments. This has led to “over supply but lack of demand”. To overcome this situation, according to Deputy Minister of Construction cum chairman of Vietnam Real Estate Association – Mr. Nguyen Tran Nam said that in 2018, the real estate market in HCMC will continue to develop steadily and unclear. Invest in affordable housing to meet the real needs of people choose the city as a settlement and development.

Buy luxury apartments are signs of cooling

According to statistics released by CBRE Vietnam in the third quarter of 2017 on the apartment market in Ho Chi Minh City showed that there was a decrease in supply in July lunar calendar and then the decline in purchasing power. As noted from July to September 2014 only HCM City has nearly 8,000 apartments open for sale from 21 projects. This figure dropped 20% from the previous quarter, down 9% over the same period in 2016. In particular, the segment of high-end apartments fell sharply to 32%.

Luxury apartment purchase is cooling down

The land market is gradually occupying the staff

While the real estate market in Ho Chi Minh City with high-end apartment projects are slowing down, the land market is showing signs of “land fever”. From the beginning of the year to now, besides the area near HCMC, investors are beginning to eye the neighborhood of the city. Commenting on this issue, many real estate experts say that demand is rising while supply of land in urban areas is limited. In addition, the mentality of “durable wear and tear” is deeply ingrained in the people’s consciousness, so the investment in land is an essential trend in the present time. The land market is expected to be active in 2018. Investors can choose to surf to hands when profit difference is a feasible investment.

The market land fever in the area near the city

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