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Groundland In East Saigon Increases 30%

Groundland in East Saigon

The selling price of the land segment is 5-7% higher than at the end of 2016. Especially in the East, there is a 30% increase compared to the beginning of 2017.

On April 5, the Asian Real Estate Joint Stock Company (DUCRA) announced the property market in Ho Chi Minh City with the theme “When the market moves.”

According to DKRA, in 2016 medium and high-grade apartments accounted for 70% of supply. The apartment is relatively low, causing the negative impact on the market.

In the first quarter, 45% of the supply of affordable apartment projects was launched to the market, opening up opportunities for many customers with appropriate financial levels. Specifically, the supply of apartments in the first three months reached about 7,100 units. Sales volume reached 4,946 units.

Groundland in East Saigon
The land of the East is virtual fever

The apartment market also moved from East to West. In 2016, apartment projects were concentrated in the East with 31% of total supply. At the beginning of this year, the projects concentrated mainly in western districts with 4,494 apartments.

In the segment of villas and townhouses, due to increasingly limited land and planning issues, the supply is increasingly limited. This makes the segment sell well despite high prices.

Most of the projects are located in districts such as District 9, Thu Duc. In the first quarter, there were about 650 new townhouses and villas launched by the investors but 366 units were sold.

In the first three months of the year, two new ground-up projects sold about 60 products. Project land supply mainly from the previous projects, concentrated in coastal districts such as District 9, Nha Be, Binh Chanh … The overall point of this project is not perfect infrastructure, lack of utilities needed.

Groundland in East Saigon
Project land supply mainly from the previous projects, concentrated in the coastal districts such as District 9, Nha Be, Binh Chanh …

Secondary sales increased by 5-7% compared to the fourth quarter of 2016. Particularly in some areas in the East increased 30% compared to early 2017 depending on each project, each position that price will increase differently. As forecasted by DKRA, in 2017 supply in the segment of apartments, townhouses and villas will continue to be plentiful.

In particular, the mid-end and low-end segments continue to account for a large share of the overall supply. In the short term, the West is still a major source of supply.

>>>Update on new information on the real estate law in Vietnam here: Vietnam real estate law 

“With the bushes related to the project over time, customers will increasingly pay attention to the reputation of the owner as the quality of products, sales policies, payment schedule …” said Mr. Pham Lam, DKRA’s  director.

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Groundland In East Saigon Increases 30%
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