The common segment has created a buzz for the real estate market in the second quarter of 2017and this is also the trend of the year.
A real estate transaction in the second quarter of 2017 was better than the first quarter. However, a buzz of the market is created by the common segment and this is also the trend of the year.
Viet Nam Real Estate Association judged that many real estate projects from branded investors such as Vingroup, Eurowindow … will soon launch a large number of middle-class housing products. This is the segment with great demand that the market is waiting for. Therefore, the market is expected to be more active thanking to this segment and liquidity will be better.
Accordingly, the expected sales continue to reaching the high rate until the end of the year, both investment trends and investment. The middle-class houses will be the segment that attracts the attention of investors.
Standard-size housing will have the potential to grow this segment. At the same time, social housing will be facilitated by the development of participation of government, organizations and businesses.
In Hanoi, if there are more than 9,000 units sold in the first quarter from 35 projects in the city, the middle-class segment occupies 62% of the new supply. This figure shows that supply has also improved compared to previous quarters, helping investors make more choices.
In the remaining months of the year, the number of newly completed housing units in Hanoi is expected to reach over 30,000 units, with 50% of the middle-class segment. The West and South West regions are expected to continue to “dominating” the supplies.
Other areas such as Tay Ho or Dong Da – Ba Dinh are also expected to welcome the quality projects. Most of the projects are now in the non-CBD areas.
Offering projects are expected to increase and be vibrant in all segments. However, the forecasted selling price may increase by 3-5% compared to the first quarter.
For Ho Chi Minh City, in the first quarter, there were about 5,083 units from 21 projects being offered including 6 new projects. The middle-class segment accounted for 52% of all units offering at an average price of $1,595/sqm, up to 13% compared with the previous year.
Offering prices in the high-class segment in Ho Chi Minh City also increased by 7.9% thanks to high-quality projects that really attracted customers, particularly in District 2.
From now to the end of the year, the supply of apartments in Ho Chi Minh City can reach about 9000-12,000 units/quarter. The similarity with Hanoi is that the middle-class segment will also dominate the market.
In Ho Chi Minh City, improvements in infrastructure such as Nguyen Van Cu Bridge and Nguyen Tri Phuong Bridge with Vo Van Kiet Avenue and public facilities (Children’s Hospital 3 in Binh Chanh District) … will attract the attention of the market to the west of the city.
Similar to customers in Ha Noi Capital, Ho Chi Minh City is also waiting for a large-scale project from Vingroup in the common segment in the East area. The high-class segment will also increase significantly as some high-quality projects are expected to be launched in the near future.
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