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Customer Are The Biggest Beneficiaries In The “Race” Of Real Estate

real estate race

At the quarterly report on the HCM City real estate market in quarter 2/2017 with the theme “Luxury apartment: internal and external competition”, Danh Khoi A Chau (DKRA) Real Estate Joint Stock Company said that the win in this race does not belong to the foreign or domestic investor but belongs to the customer.

DKRA commented on the general market that overall quarter 2 markets performance is quite optimistic. Much of the information on proposed transport infrastructure, commenced or to be completed, regional planning proposals and new projects, urban areas approved by the city to make investment in many regional real estate prices increase compared to the beginning of the year.

For the apartment market, DKRA said total supply and sales in quarter 2 increased quarter-on-quarter. Specifically, in the second quarter, the total supply of apartments delivered to the market was about 9.326 apartments, up 31%, consumption reached 6.534 apartments, up 33%.

>>> See more information: Many Good Signals From The Real Estate Market In Vietnam

Explaining the reasons for the increase in total supply and total consumption in the apartment market compared with quarter 1 / 2017, Mr. Pham Lam, General Director of DKRA said that the impressive return of the high-end apartment segment to move the supply and demand histogram of the entire market. Accordingly, the high-end apartment segment’s occupancy rate reached 87% and accounted for 36% of the total apartment market, leading to a second-quarter increase.

Real estate race
Infrastructure is invested together with the advantage of large clean land fund is making real estate in East HCMC become exciting.

Supply of popular apartment segment continues to be plentiful with 3.855 apartments (accounting for nearly 41% of the total supply of apartments in the market), opening up opportunities for many customers who want to buy houses for living at reasonable prices. Recognizing that, the market began to diversify when the prestigious investors, reasonable prices, full benefits are found by customers and are quite impressive sales.

If quarter 1/2017 luxury apartment segment cool down, quarter 2/2017 mark the impressive return of this segment. In the second quarter, the high-end segment had about 2.697 apartments sold to the market and absorbed about 2.359, accounting for 36% of the total consumption of the apartment market, which is a very positive figure.

In terms of area consumption, the East has not been overheated and has always been the buyer’s first choice as the segment absorption rate reached 92%. This shows that both buyers and investors are still very much expecting growth in this area.

The market of townhouses and villas did not have much fluctuation compared to the previous quarter. Accordingly, the market supply is always limited and although the price is quite high but this consumption is quite good. The projects are concentrated mainly in the East such as District 9, Thu Duc District. In the second quarter of 2017, there were about 707 new townhouses and villas marketed to the market with an average consumption rate of 63%, especially there are projects where the consumption rate is 80-90% in just 1-2 months.

>>> See more: High-end Real Estate “Counter-attack” After Quiet Time

The land market, especially the subdivision land in the outskirts, continued to fever from the first quarter to the beginning of the second quarter. Some land prices pushed up, from 30 to 50% only in Short time and signs of virtual fever such as Hoc Mon, Can Gio, Cu Chi, …

real estate race
Thang Long Highway – the longest and most modern urban highway in Vietnam

However, in early May, before the warning of the media, experts and especially the intervention of some authorities, the land fever in the land subdivision has cooled down completely. Specifically, the notification correct and confirmed that the province has not reached the district has profound impact and bring the market back to balance.

In the second quarter of 1977, there were about 1,579 new homes open for sale, reaching about 84% of the market. This quarter witnessed the excitement of the land project adjacent area Ho Chi Minh City as Long An, Dong Nai, Vung Tau, especially Long An area.

The real estate resort market in quarter 2/2017 showed signs of cooling down, the main source of revenue from open projects sold last year, low consumption. The supply side has not changed much from the previous quarter, mainly in Phu Quoc, Da Nang, Nha Trang,… However, the inventors have also begun to pay attention to potential markets such as Ba Ria – Vung Tau, Binh Thuan, Quang Nam or new markets such as Binh Dinh.

According to Pham Lam, the biggest thing now is that customers have mastered the game of the market, not as before. The competition and pursuit among investors always create endless efforts and improvement in quality, design, sales policy … In this game, the customer is the biggest beneficiary.

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Customer Are The Biggest Beneficiaries In The “Race” Of Real Estate
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