Real estate market in august in Ho Chi Minh City

In August, the real estate market in Ho Chi Minh City has been kept in a number of segments such as low- and mid-priced residential units, land plots, condominiums and adjacent houses.

Districts 2 and 7 are still the two main districts in the market

Specifically, according to new data released by the Department of Housing Management and Real Estate Market (Ministry of Construction) in HCMC. In Augustv2017, about 1,400 transactions were successful. Equivalent to the number of successful transactions last month. The transactions are mainly concentrated in the form of apartments cheap.

In addition, the reality in the market in HCM City showed that until now not many new projects are deployed and sold. The supply is still concentrated in the mid-high segment.

And from the projects launched before the end of 2016 and early 2017. Meanwhile, the supply of social housing and cheap housing on the market is very low, although these are segments with demand. Great bridge.

Social housing and affordable housing in Ho Chi Minh City are not available to meet the growing demand of people here.

The number of transactions kept stable in Ho Chi Minh City in August was mainly due to the fact that many apartment, villa and townhouse projects were sold in districts 7 and 2 such as Jamona GoldSilk, Phu My Town , Hung Phat SilverStar, Sunshine Riverside, …

In the East of Ho Chi Minh City, besides the land segment still maintained the number of transactions at high levels. The type of apartments, villas and townhouses also recorded a number of transactions increase compared to the previous period in some projects such as Palm City, Feliz en Vista (District 2).

Land phenomenon in the area near district 9 has run out of fever. Price has stabilized again, the number of transactions no longer spike as during the fever. In terms of price, real estate prices still fluctuate slightly in different types. For high-grade and high-grade apartments with good location and progress in accordance with the process, prestigious investors, prices are still stable.

Forecasts real estate market in Ho Chi Minh City until the end of this year

The real estate market has been going half way through 2017 with many big changes over the same period in 2016. In particular, the change of supply from luxury apartments to cheap apartments and fever Back ground is the focal point.

The city’s real estate market is preparing a solid foundation to dominate the market

HCM City real estate market is forecasted to be in the last three months of 2017. HCM City Real Estate Association (HoREA) recently said that the HCM City market is still in the cycle of growth.

But will continue to trend down from 2016. HoREA said that in the last months of the year there will be a pair from the high-end segment into the pocket money. Meet the real needs of most low and middle income people.

Mr.Le Hoang Chau, Chairman of HoREA, said that the trend of cooperation and joint ventures between domestic and foreign enterprises will be inevitable. Mergers and Acquisitions (M & A) will also grow. Especially after the date of August 15 2017 when the Resolution of the National Assembly on bad debt treatment officially take effect

“The state will issue many legal instruments and use tax, credit, land use and administrative tools to bind the owner to protect customer interests. That is also to adjust the property market aims to develop healthy and sustainable, “said Mr.Chau.

In addition to solving administrative procedures quickly, simply reduce the harassment situation. HoREA also said that foreign investment inflows and remittances will continue to be an important source to boost the market in the near future.

The trend of investment cooperation with foreign enterprises to create high quality products will be indispensable trend

The most noteworthy thing is, the size of the HCMC real estate market has gone beyond the administrative boundaries of the “urban area of ​​HCMC”, especially in the districts bordering the city.

At the same time, it is necessary to require enterprises to make fundamental changes. Build the culture in the enterprise, showing the responsibility to society, the responsibility to customers.

The market will still appear unexpected risks

Besides, it is also important to note the risk factors in the market. As the phase difference between supply – demand, secondary investors are more and more. Or the supply of credit tends to focus mainly on large businesses, investing in high-end real estate.

Particularly, the situation of safety and handling of disputes in apartment projects has been increasing. More and more people are choosing the type of apartment in the process of presenting strong urbanization.

It is forecasted that in the coming years (2017-2020) there will be adjustments coming from the government to solve the current phase of supply-demand. Helping the market to re-orient itself to a healthy, sustainable development.

In particular, HoREA also noted that the plan to develop new urban infrastructure system should be more synchronous, creating more effective. First of all is the traffic, metro, overhead rail, fast bus, river bus. They will create great opportunities for businesses to “follow” to invest, along with developing the real estate market both now and in the future.

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