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Ha Noi Real Estate In The First Quarter: Popular Housing Increased Heat, Villas Decelerated

Ha Noi real estate

The real estate market in Hanoi has experienced the first quarter of 2017 with the highlight is the segment of average and average apartment transactions tripled compared to the fourth quarter of 2016.

In contrast with this figure, the villa and townhouse segment showed signs of “cooling down” 1.8% qoq and down 5.3% over the same period in 2016.

Popular segment growth

Continuing to grow from 2016, Q1 / 2017 is a busy period for investors of popular projects in Hanoi. With 9,398 units open for new sale from 35 projects across the City, showing a quarterly increase in the number of apartments and projects open for sale.

According to CBRE data, the mid-market segment dominates the market with 62% of total new supply, followed by the high-end segment. It is worth noting that the number of new openings from the popular segment is nearly three times that of the fourth quarter of 2016. Specifically, there were 6,143 units sold in this quarter, showing that the market price of cheap apartments is very exciting. Impressive sales by the owner of a series of preferential sales policies, especially the occasion before the Lunar New Year.

It is noteworthy that the popular segment’s sales show a significant improvement in the availability of more supplies, offering more options for the “god”.

Ha Noi real estate
Q1 / 2017 is a busy period for investors of popular projects in Hanoi

In terms of offering prices, projects located in favorable location, providing full facilities and utilities for residents tend to increase prices. All segments witnessed primary price increases by the year. Of which, luxury segment and luxury segment increased the most at 8.4% and 12.3% over the same period last year. This price increase is mainly due to the high price level of high-end projects opened for sale in the first quarter of 2017 compared to the same period last year.

In the secondary market, the average market price fell slightly at 1.4% quarter-on-quarter but rose 0.5% year-on-year.

According to CBRE, in the future, the West and South West of the capital is expected to continue to dominate the supply. Other areas such as Tay Ho or Dong Da, Ba Dinh are also expected to welcome quality projects.

According to this unit, as domestic investors are more and more interested in the popular segment, it is expected that in the coming quarters there will be new sources coming from this segment. Most of the projects will be located outside the center.

Villa, adjoining … reduced

According to a report from CBRE, in the first quarter of 2017, 715 villas, 319 adjacent houses and 204 townhouses were opened for sale, coming from six projects, including Ciputra Zone K, Dream Lake Tay Ho, Vinhomes Green Bay, Vinhomes Riverside Phase 2, Eurowindow River Park and Marina Arc (end of Stage 3 Ecopark Aquabay).

As a result, there were 1,238 units opened for sale in the first quarter, equal to 40% of total new supply in 2016. Another noteworthy point is that most of the new openings are in very good locations. Beautiful, with complete infrastructure, convenient transportation and available living resources available.

Ha Noi real estate
According to CBRE, the segment of villas, adjoining is still down slightly due to the focus on the mid-range residential segment.

Therefore, the primary selling prices of these projects are much higher than the market average. Of the three types of houses, townhouses are still the most popular products sold by the sellers, which have the highest selling ratio, which can be used as housing and can be used for trading and be increasing. Benefits to buyers. However, according to CBRE, this segment is still down slightly due to the focus on the middle-income segment. At the same time, average secondary market prices continued to fall slightly by 1.8% quarter by quarter and 5.3% year over year to $ 3,200 /sqm.

In addition, last quarter also noted the strong investment of developers in the development of utility items in urban areas. For example, at the Park City project, international standard facilities have been put into operation, or the Dinosaur Park is about to open in Vinhomes Riverside, along with its own clubhouse. Each subdivision in the project.

However, in contrast to the quietness in the first quarter, CBRE is still predicting that 2017 will be an exciting year for the villa and townhouse market as a series of large new projects are expected to open. Selling this year as Ecopark CBD (Phase 4 of Ecopark), The Manor Central Park, Phase 2 Splendora, Hanoi Garden City and new openings of a Starlake project.

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