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The vibrant real estate market in 2015 and the first months of 2016 has stimulated developers to race to develop medium and high-end real estate projects. Because these projects are often more profitable to the owner. In Hanoi, the supply of luxury apartments accounted for one-third of the total new units opened in the first quarter of 2016.
By the second quarter of 2016, transaction volume tended to decrease slightly due to the increase in supply, but still concentrated mainly in the middle and high-end segment, the popular segment was not launched many new projects. Market downturn extends to the first half of the third quarter of 2016.
In that context, many businesses have renewed themselves, in which popular forms of promotion, high discount, and promotion of communication activities …
Thus, through July lunar calendar, the rate of successful transactions on the total number of open apartments resale increased sharply, reaching a record since the first quarter of 2012. According to CBRE statistics, in Hanoi, in the third quarter of 2016, more than 6,800 apartments were sold from 16 projects, an increase of 14% compared the previous quarter. A total of 5,279 units were sold this quarter, an increase of 52% compared the previous quarter. The mid-end segment still accounts for the majority of openings, however, new supply from high-end and luxury flats has increased significantly with about 3,000 units being launched, accounting for 45% Total sales open in Hanoi.
In the fourth quarter of 2016, the market continued to grow. According to the Department of Housing and Real Estate Market Management (Ministry of Construction), in October 2016, Hanoi has about 1,300 successful house transactions (up 18.2% over the previous month) and HCMC HCM City has 1,225 successful transactions (up 16.7% over the previous month). A large number of successful transactions are still concentrated in mid- to high-end housing projects; The volume of transactions in low-cost housing projects is not much due to limited supply.
“The performance of the Hanoi housing market is showing positive signals in all districts. The last quarter of 2016 is expected to have more open projects of reputable developers open to selling, helping to further promote transactions on the market, “said Mr.Nguyen Hoai An, Deputy Director of Research and Consulting, CBRE reviews.
Mr. Tran Ngoc Quang, the general secretary of the Vietnam Real Estate Association, said that the fourth quarter was the “hot” time of the market. At this point, employees try to sell to earn revenue, investors also want to push the goods to pick up cash flow year-end brush, while the demand for housing of people also increased sharply because of more bonuses, profit from business …
Therefore, the real estate market in late 2016 and early 2017 will continue to develop positively, housing transactions, especially high-end segment will increase sharply due to a number of remittances at the end of the year to real estate. donate. In addition, a large part of the demand for high-end housing products may come from foreigners when the 2014 Housing Law is coming to life.
Similarly, Mr. Phuoc Vo, director of pricing and research Cushman & Wakefield, said that in 2017 the real estate sector is still promising promised by the Government to make Vietnam a destination for investment. Market sentiment is expected to remain positive in the coming time, both in terms of new sales and sales. Medium and high-end segments tend to recover and attract large numbers of investors.
Concurrently, CBRE said that real estate market will continue to flourish in 2017 both in the number of open projects and selling speed. Medium to mid-range apartments continues to dominate the market due to their high liquidity. The luxury projects are also focused to attract foreign buyers, overseas Vietnamese.
Many investors are re-launching projects, relocating projects and launching new projects. Therefore, in 2017, more high-end projects will open for sale. This means that the owners have to compete more with the sales program, improve product quality.
“Expectations that central-area projects with limited land funds, high land prices, and those on the fringe of the center, are in a favorable position to increase prices in 2017,” said the representative of CBRE forecasts.
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