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The Housing Market At The End Of The Year: Prices Trend Continue Going Up

Prices trend continue going up

In particular, in Ho Chi Minh City, the new apartment opened at 8,438 units. In particular, the segment of popular and middle-class apartments accounted for 44% and 37%, respectively.

In the segment of villas, townhouses are open new sales reached 820 units with units priced from $225,000 to $450,000 per unit, accounting for more than 70%.

JLL said that housing prices from now until the end of the year continue to trend up, especially the primary market, the price of apartments increased in all segments of the market. While the popular segment recorded the highest increase of 2.2% quarterly. The segment of villas, townhouses upward trend was recorded at 2.4% quarterly, the top is District 9 and Nha Be District.

In the secondary market, apartments are selling at a slower pace than in recent quarters. The pressure from the abundant supply on the completed projects is getting better and better. Villa sales increased for the 11th consecutive quarter, marking a significant contribution to the investment trend.

Prices trend continue going up
Real estate market last year.

In Hanoi market, according to JLL survey, the supply continued to be high with sales open at 7,854 units, down 6% quarter on quarter and up 5% year on year, with nearly half of which sold over $1,200 // sqm. The number of semi-detached apartments in the southern district of Tu Liem and Thanh Xuan with about 2,000 units from each district.

Successful sales reached 8,015 units, slightly increased compared to Q2 / 2016. The proportion of mid-end and low-end apartments in total sales was 52% and 37%, respectively. Leading the market is Nam Tu Liem district with nearly 1,800 units sold successfully, followed by Thanh Xuan district and Hoang Mai district with 1,500 units per district.

Selling prices have also continued to increase, with the primary market selling for a sustained uptrend with most of the primary stock projects reporting a 1-5% increase quarter-on-quarter. The highest increase in the third quarter was recorded in the premium segment, an increase of 3.6% quarterly.

For the secondary market, quarter-on-quarter trends slowed to 1.1% in the quarter versus an average of 1.5% recorded in the first quarter of 2015.

Meanwhile, a number of projects have been completed, especially high-end and luxury projects, which have seen prices fall due to competitive pressure.

Prices trend continue going up
Observations on the real estate market can be seen, the end of the year the investors to open each sale, launch the project.

JLL forecasts that demand will continue to be high so sales will continue to rise, coming from both buyers to invest and buy to stay but will continue to depend on new supply. Price will increase.

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

But the latest report from the Bureau of Housing Management and Real Estate Market (MOC) contrasts with JLL figures. Accordingly, the supply in the market is still concentrated in the segment of high-end and high-end apartments, while the supply of apartments in the popular segment is not much. The supply of cheap housing projects and social housing in this period is still from the projects that have been implemented since the beginning of the year.

In terms of apartment prices, the projects did not have many fluctuations. For medium to high-end segment, the number of apartments supplying this segment is high; however, the market does not reduce the direct selling price but rather forms of discount, promotion and incentives from investors. to attract customers. This is actually a stimulus. For villas, adjoining houses, mainly trading in the secondary market, the prices did not change much.

Therefore, the Department of Property Management predicted, real estate market continues to remain stable, prices are not many fluctuations. But from now until the end of the year will continue to exceed the supply of high-end apartments, lack of supply of popular housing.

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The Housing Market At The End Of The Year: Prices Trend Continue Going Up
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