HCMC Is Going To Have More 50,000 New Apartments In 2016

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CBRE forecasts that in 2016, the real estate market in HCM City will be abundant in the supply of 40,000 to 50,000 apartments to be offered. Real estate in District 2, District 7 will continue exciting, property prices will not increase but go sideways.

On November 24, Forbes Vietnam held a real estate conference titled “Cash flow tracking” in Ho Chi Minh City.

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The conference attracted nearly 300 participants with the participation from representatives of many large real estate companies, financial institutions name. Industry experts gathered at the event to outline the picture of the real estate market in Vietnam and help participants identify opportunities and risk parallel. According to experts, real estate in 2015 is one of the most exciting development areas of the Vietnamese economy.

According to CBRE’s statistics, in the first nine months of the year, the number of apartments sold in Ho Chi Minh City reached nearly 24,000 units, exceeding the previous record set in 2014 at 17,000 units.

Similarly, in Hanoi, according to CBRE, the number of apartments reached nearly 15,000 units, reaching a record peak formed in 2009. In addition to liquidity, compared with 2014 highlights of the transaction is 2015 Exciting in all product segments. Projects are being deployed in many areas instead of only in some central areas of Hanoi and Ho Chi Minh City.

Experts explain the recovery of the property market is supported by many factors: stable macroeconomic situation; Tram system in Ho Chi Minh City and Hanoi helped hundreds of new projects have been started in the past 12 months, flexible financial products of banks with reasonable interest rates to support liquidity for the market; Legal corridors related to business and property gradually improved is expected to create new hitches …

However, there are also many early concerns about the market as the supply of products by the end of 2015 to 2016 is estimated at 57,500 units (data from Savills); In the third quarter of 2015 sales opened record new quarterly but absorption rate was only 35%, half the same period (CBRE statistics).

CBRE forecasts that, in 2016, the HCMC property market will be abundant in the supply of 40,000-50,000 apartments to be offered. Real estate in District 2, District 7 will continue exciting, property prices will not increase but go sideways.

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